2012-09-10 14:40:38 -
Aurora, Ontario CANADA, September 10, 2012 /FSC/ - TriAusMin Limited (ASX:TRO, TSX:TOR), ("TriAusMin" or the "Company") refers to its announcement to ASX on 31 August 2012 of a renounceable rights issue offer of fully paid ordinary shares in TriAusMin (Shares) to its shareholders (Offer).
The Offer remains as a "1 for 4" entitlement for all Shareholders as per the Company's announcement of 31 August 2012. However, due to the different technical processing requirements of the ASX and TSX, the Company has restructured the Offer to offer Shareholders a right to acquire 1 new Share for every 4 Shares registered in their name at 7.00pm Sydney time on 18 September 2012 (Record Date). The Company notes that, in substance, this does
not affect the entitlement offered to Shareholders.
As per the Company's announcement of 31 August 2012, the issue price for each new Share is C$0.06 per Share (in Canadian dollars) or A$0.059 per Share (in Australian dollars)(1), which represents a 18.6% discount to the volume weighted average price of Shares traded on the ASX and a 11.9% discount to the volume weighted average price of Shares traded on the TSX over the 5 trading days up to and including 30 August 2012. Eligible Shareholders may subscribe for Shares in either Australian dollars or Canadian dollars.
All other terms of the Offer as announced on 31 August 2012 remain the same. The revised terms of the Offer will be set out in a rights offer document to be mailed by TriAusMin to its shareholders shortly.
The Offer Document will be available on the ASX website at www.asx.com.au and will also be available on the SEDAR website at www.sedar.com.
The Offer is not being made to shareholders who are resident in jurisdictions outside of Australia, New Zealand and the Provinces of British Columbia, Alberta, Ontario and Quebec, Canada (the "Qualified Jurisdictions and is not, and under no circumstances is to be construed as, an offering of any securities for sale in or to a resident of any jurisdiction other than the Qualified Jurisdictions or a solicitation therein of an offer to buy or sell securities. The Offer will be available to shareholders who have registered addresses in the Qualified Jurisdictions as at the Record Date.
TriAusMin is engaged in the exploration and development of base and precious metals deposits in the Lachlan Fold Belt of New South Wales, Australia. TriAusMin's projects include the Woodlawn Project, the Lewis Ponds Project located near Orange, 200 kilometres west of Sydney, as well as a number of other quality exploration properties.
Indicative timetable for Rights Issue
Announcement Date: Announcement of the Rights 31 August 2012
Ex Date: The date on which issued Shares 12 September 2012
trading on ASX without the entitlement to
participate in the Offer.
Rights Trading opens: The day when Eligible 12 September 2012 Shareholders are entitled to trade their Rights
Record Date: The date for determining entitlements 18 September 2012
of Shareholders to participate in the Offer (at 7:00pm)
Offer Document sent to ASX Shareholders: Anticipated 19 September 2012
dispatch of Offer Document and Entitlement and
Rights Trading ceases on ASX 9 October 2012
Date on which Shares will begin trading on ASX on a 10 October 2012
deferred settlement basis and on the TSX
Closing Date: The last day for receipt of Entitlement 16 October 2012
and Acceptance Forms and Rights Certificates and
payment and Rights trading ceases on TSX and the
Rights expire on this date (at 5:00pm).
Despatch Date: Anticipated date of entry of New Shares 24 October 2012
into uncertificated holding accounts in respect of
Shares trading on the ASX, and the anticipated date of
Delivery of certificates evidencing the New Shares in
respect of Shares trading on the TSX
* These dates are subject to change and are indicative only. TriAusMin reserves the right to amend this indicative Timetable without notice. In particular, TriAusMin reserves the right, subject to the Corporations Act, the ASX Listing Rules, the rules of the TSX, and applicable securities laws to close the offer early, to extend the Closing Date or to withdraw the offer without prior notice. Any extension of the Closing Date will have a consequential effect on the date for the issue of New Shares.
For further information, please visit www.triausmin.com or contact:
Mr Wayne Taylor, Managing Director and Chief Executive Officer
Tel: +61 02 9299 7800 (Sydney) firstname.lastname@example.org
Tel: +1 905 727 8688 (Toronto) email@example.com
(1) The Issue Price of A$0.059 per New Share is calculated based on the Issue Price of CDN$0.06 and the exchange rate of 1.02467 quoted from the Bank of Canada as at 30 August 2012, rounded to the closest 3 digits after the decimal point.
To view this press release as a web page, click onto the link below:
Source: TriAusMin Limited (TOR-TSX) www.triausmin.com
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