Letter to Overseas Optionholders- Pro-Rata Non-Renounceable Options Offer
Sydney, June 14, 2012 AEST (ABN Newswire) - On 20 March 2012 Vector Resources Limited (
ASX:VEC) announced a one (1) for two (2) non-renounceable pro rata offer of new options to holders of the Company's existing listed options. Shareholders approved the proposed offer in general meeting on 12 June 2012.
Under the terms of the options offer, the holders of listed options whose registered addresses are in Australia or New Zealand as at 22 June 2012 (Eligible Optionholders) will be offered new options in the Company for a subscription price of $0.01 each and exercisable at $0.25 each on or before 30 January 2015 (New Options).
The closing date for acceptance of the offer is 11 July 2012 unless extended at the discretion of the Board.
The options offer will raise up to approximately $884,433 before costs. The funds will be used for exploration on the Company's existing projects and for additional working capital purposes.
The Company is of the view that it is unreasonable to make an offer under the options offer to holders of listed options outside of Australia and New Zealand having regard to:
- the number of optionholders with registered addresses in countries outside of Australia and New Zealand;
- the number and value of the securities to be offered to optionholders outside of Australia and New Zealand; and
- the cost of complying with the legal requirements and requirements of regulatory authorities in the relevant overseas jurisdictions.
Accordingly, the Company is not required to make offers to optionholders with registered addresses outside of Australia and New Zealand.
Contact
Vector Resources Limited
T: +61-2-6389-5750
E: contact@vectorresources.com.au
WWW: www.vectorresources.com.au
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