News and Announcements
Connexion Media Limited to Undertake a Pro Rata Offer of Options to Shareholders
- Published November 28, 2014 10:54AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
HIGHLIGHTS
- Non–renounceable pro-rata offer of options to shareholders at an issue price of 1.5 cents per option.
- Two options (2) for every three (3) shares held.
- Options exercise price of 20 cents.
- Option expiry date 31 August 2016.
- Options exercised by 31 August 2015 will result in an issue of another option at an exercise price of 25 cents expiring August 31 2017 (Piggy Back Options).
- Offer is fully underwritten.
Connexion Media Limited (ASX:CXZ) (Connexion) is pleased to announce that it intends to undertake a non-renounceable pro-rata entitlement issue of options to Connexion shareholders with registered addresses in Australia and New Zealand.
The Company proposes a non-renounceable issue of options, being two (2) options for every three (3) shares held, at an issue price of one and half (1.5) cents per option, exercisable at twenty cents (20) per option before the expiry date of August 31 2016. Connexion have signed an agreement with Raven Holdings Pty Ltd to have any shortfall in respect of the offer fully underwritten.
Subject to the ASX Listing Rules, Connexion will apply to list the options on the Australian Securities Exchange (ASX).
A copy of the prospectus relating to the offer of the options will be mailed to each shareholder registered on the Connexion share register as at the record date (to be announced) and also obtainable in hard copy from Connexion following lodgment with the Australian Securities & Investments Commission (ASIC). The Company anticipates lodging a prospectus for the offer of the options with ASIC by the end of December 2014.
For further information, please contact:
George Karafotias
Company Secretary
(03) 9866 7889