17 March 2017 ASX: ARU
CORRECTION TO LETTER DATED 15 MARCH 2017 - SPP Arafura Resources Limited (ASX: ARU, "Arafura" or the "Company") advises that the Share Purchase Plan ("SPP") 5 day Volume Weighted Average Market Price Calculation ("VWAMP") Period shown in the letter to shareholders dated 15 March 2017 was incorrect.As set out in the Share Purchase Plan (ASX: ARU 27/02/17), the VWAMP Period is the 5 trading days before the day on which the share issue or allotment is made for the SPP shares. The proposed SPP closing date is 31 March 2017 and the SPP shares are scheduled for allotment on 7 April 2017. On this basis, the correct 5 day VWAMP Calculation Period is 31 March 2017 to 6 April 2017.
Please refer to the accompanying letter and timetable which sets out the correct "SPP 5 day VWAMP Calculation Period".
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AN EMERGING RARE EARTHS PRODUCER FOR USERS WORLDWIDE
ARAFURA RESOURCES LIMITED
arafura@arultd.com www.arafuraresources.com.au ABN 22 080 933 455
PERTH: Level 3/263 Adelaide Tce, Perth WA 6000 | PO Box 5773, St Georges Tce, Perth WA 6831 T: +618 6210 7666
DARWIN: 18 Menmuir St, Winnellie NT 0820 | PO Box 37220, Winnellie NT 0821 T: +618 8947 5588 F: +618 8947 5599
AN EMERGING RARE EARTHS PRODUCER
FOR USERS WORLDWIDE
17 March 2017 Dear Shareholder,
CORRECTION TO LETTER DATED 15 MARCH 2017 - SPP
The Directors of Arafura Resources Limited (ASX: ARU) (Arafura or the Company) advise that further to the Company's previous announcement on 20 February 2017 regarding its Share Purchase Plan (SPP) the Board has decided to extend the closing date for acceptances and receipt of applications under the SPP to Friday 31 March 2017 at 5:00pm AEST.
The response by Shareholders to the SPP has been extremely positive and the Company continues to receive enquires, the extension will ensure all eligible Shareholders have sufficient time to complete their applications to participate.
Under the SPP, eligible shareholders can subscribe for up to A$15,000 worth of Arafura shares. The SPP issue price of the new Shares will be the lesser of $0.077 or 80% of the Volume Weighted Average Market Price ("VWAMP") of the Shares calculated over the last five trading days before the date on which the share issue is made under the Plan.
The Funds raised through the SPP will be allocated to fund the continuation and operation of the Company's Pilot Plant in relation to its Nolans Project. Full details of the SPP have previously been despatched to eligible shareholders. Please refer to the ASX announcement dated 27 February 2017 for further details.
A revised timetable of important dates applicable to the issue is referenced below.
Event | Date |
SPP Record Date | 17 February 2017 |
SPP Opened | 27 February 2017 |
SPP Closes | 31 March 2017 |
SPP 5 day VWAMP Calculation Period | 31 March 2017 to 6 April 2017 |
Allotment of SPP shares | 7 April 2017 |
SPP shares commence trading on ASX | 11 April 2017 |
(This timetable is indicative only and may be changed subject to the Corporations Act 2001 (Cth) and the ASX Listing Rules)
Gavin Lockyer
Managing Director Arafura Resources LimitedARAFURA RESOURCES LIMITED
arafura@arultd.com www.arafuraresources.com.au ABN 22 080 933 455
PERTH: Level 3/263 Adelaide Tce, Perth WA 6000 | PO Box 5773, St Georges Tce, Perth WA 6831 T: +618 6210 7666
DARWIN: 18 Menmuir St, Winnellie NT 0820 | PO Box 37220, Winnellie NT 0821 T: +618 8947 5588 F: +618 8947 5599
Arafura Resources Ltd. published this content on 17 March 2017 and is solely responsible for the information contained herein.
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