| 17/12/2015: Update on Rights Issue | |
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Microsoft Word - 151215 rights issue update Draft V2_DT v2
ACN. 000 317 251
MARKET RELEASE 17 December 2015
NON-RENOUNCEABLE RIGHTS ISSUE UPDATE
Non-Renounceable Revised Rights Issue to raise $63 million
The Company is in advanced discussions with an Underwriter for the Rights Issue Funds raised to be used towards completing the construction and commissioning of the 100% owned Rocklands Group Copper Project
CuDeco Limited (ACN 000 317 251) (Company) advises that it is in advanced stages of negotiations with a potential underwriter for the revised Rights Issue on the basis of one new fully paid ordinary share for every four shares held at an issue price of $0.80.
The proposed underwriting is subject to the execution of a formal underwriting agreement the details of which will be required to be included in the Prospectus for the Rights Issue.
The Prospectus is therefore now expected to be lodged with the ASX and the Australian Securities and Investments Commission as soon as the following steps are completed:-
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execution of any underwriting agreement;
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updating of the Prospectus to reflect the possible Underwriting agreement; and
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receipt of the consents from its directors for the lodgment of the Prospectus.
This announcement does not lift the suspension from quotation of the Company's shares. On behalf of the Board.
-ends
Unit 34, Brickworks Annex, 19 Brolga Avenue, SOUTHPORT 4215
Phone: +617 5503 1955 Facsimile: +617 5503 0288 Email: [email protected]
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CuDeco Limited
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EXPLORATION STAGE |
CODE : CDU.AX |
ISIN : AU000000CDU1 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
CuDeco is a copper producing company based in Australia. CuDeco holds various exploration projects in Australia. Its main exploration properties are LAS MINERALE and ROCKLANDS in Australia. CuDeco is listed in Australia. Its market capitalisation is AU$ 90.7 millions as of today (US$ 62.0 millions, € 55.9 millions). Its stock quote reached its highest recent level on August 13, 2010 at AU$ 4.38, and its lowest recent point on February 09, 2018 at AU$ 0.20. CuDeco has 394 280 000 shares outstanding. |