Share Purchase Plan and Application Form
Melbourne, Sep 26, 2014 AEST (ABN Newswire) - As announced on 18 September 2014, Valence Industries (
ASX:VXL) is offering a Share Purchase Plan to all eligible shareholders in Australia and New Zealand at an issue price of 70 cents per Share (SPP).
The SPP permits all eligible shareholders to participate on the same basis as the recent placement by the Company. Patersons Securities Limited is the underwriter to the SPP to the target of $3,000,000, subject to standard terms and conditions. Patersons has also agreed to act as the lead manager to the SPP.
The SPP will be open for three and a half weeks and is currently scheduled to close on 22 October 2014. The Company may close the SPP at any time dependent on demand for shares. Shareholders are encouraged to submit their applications as soon as possible as the Directors reserve the right to close the SPP early.
Use of Funds
The funds raised under the SPP together with the funds raised from the recent Placement will be used to complete the feasibility study process, assess new high grade mineralisation, permit early work on Phase II and for operating capital requirements.
Further details of the underwriting arrangements, and the terms and conditions of the SPP, are set out in the offer letter as attached and which will be sent to shareholders today, 26 September 2014, with a personalised application form.
To download the application form, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-VXL-819926.pdf
About Valence Industries Ltd
Valence Industries Limited (ASX:VXL) is an industrial manufacturing company producing high grade flake graphite products for distribution and sale to global markets. Valence Industries owns established processing facilities and infrastructure to manufacture a wide range of graphite product lines for multiple applications and multiple industries. Valence Industries produces and sells its graphite products from its Uley Graphite facilities in regional South Australia for delivery to diversified markets for graphite in the Asia Pacific, Europe and North America. Visit Valence Industries
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