Last Chance to Buy Discounted Archer Shares
Adelaide, June 1, 2016 AEST (ABN Newswire) - Archer Exploration Ltd (
ASX:AXE) advises shareholders that the opportunity to purchase Archer shares at a price of $0.08 per share (a 19.19% discount to yesterday's closing price on ASX) under the company's Share Purchase Plan (SPP) closes at 5pm (Adelaide time) on Tuesday, 7 June 2016.
Key points:
- Opportunity to purchase Archer shares at discount to current market price closes next Tuesday, 7 June 2016 at 5pm (Adelaide time).
- Funds raised will be allocated to magnesite, graphene and graphite development
Shareholders who subscribe for shares under the SPP will also be entitled to apply for one free attaching unlisted option for every share allotted to them under the SPP. The free attaching options will have an exercise price of $0.12 and expiry date of 30 June 2017.
Funds raised via the SPP will primarily be used by the Company:
- to develop the company's Leigh Creek Magnesite Project; and
- to develop the graphite and graphene projects.
To apply for new shares, funds must be received no later than 5pm (CST) on 7 June 2016. The fastest way to apply and pay for your shares is by using BPAY. If you are an eligible shareholder and need a new personalised SPP Application Form, please call the company on +61-8-8272-3288 or email Damien Connor, Company Secretary at (dconnor@archerexploration.com.au).
We encourage all shareholders to read the Share Purchase Plan offer document lodged with ASX on 18 May 2016 (refer to link below), posted to shareholders and available at http://www.archerexploration.com.au.
This announcement is not investment advice and shareholders should consult their professional advisors before deciding whether or not to participate in the SPP.
To view Archer's SPP Offer announcement, please visit:
http://www.abnnewswire.net/lnk/UHW1JWCO
To directly download Archer's SPP offer document, please visit:
http://www.abnnewswire.net/lnk/LEP03LA7
Contact
Mr Greg English
Chairman
Archer Exploration Limited
Tel: +61-8-8272-3288
Mr Gerard Anderson
Managing Director
Archer Exploration Limited
Tel: +61-8-8272-3288
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