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Elementos Ltd Updates On Share Purchase Plan


Sunday, 26 May 2013 09:06pm EDT 

Elementos Ltd announced that with reference to the announcement made on May 24, 2013, in relation to its intention to offer Eligible Shareholders the opportunity to participate in the 2013 share purchase plan to subscribe for fully paid ordinary shares in the Company (SPP or Plan). The board of directors of the Company (Board) now announced that it makes that offer to eligible shareholders on the terms and conditions set out in this letter and Application Form (Plan Documents). The Company proposes a maximum raising of $833,485 under the Plan, comprising the issue of up to 46,304,762 shares (New Shares). However, the Company reserves the right to accept over subscriptions and to place any Shortfall in its absolute discretion at a price not less than the Issue Price, subject to the ASX Listing Rules. The Issue Price represents a 19.64% discount to the average price of the Company’s shares traded on the ASX during the 5 trading days immediately prior to the announcement date of the Plan, and is free of both brokerage and commission. The proposed use of the funds raised is as follows: to complete the merger; and satisfy the Company’s general working capital requirements. The offer opens May 27 2013. The offer closes at June 12, 2013. 

Company Quote

0.014
-0.0010 -6.67%
29 Aug 2014