Royal Resources to Hold a 1:1 Renounceable Rights Issue of 101.33m New Shares at 10 Cents to Raise $10.13m (ROY.AX, 01003980, 20091028)

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Royal Resources to Hold a 1:1 Renounceable Rights Issue of 101.33m New Shares at 10 Cents to Raise $10.13m
Wednesday October 28, 2009, 12:27 pm

Original Announcement: Rights Issue Prospectus

Royal Resources announced that it will hold a pro-rata renounceable rights issue of approximately 101,329,828 new shares on the basis of 1 new share for every 1 share held on the record date of 22 October 2009 at an issue price of $0.10 per new share, together with approximately 33,776,609 free attaching new options, each exercisable at $0.10 on or before 31 October 2011 on the basis of 1 new option for every 3 new shares issued, to raise approximately $10,132,983. If a New Option is exercised between 3 May 2010 and 31 May 2010 the New Option holder is entitled to receive a Secondary Option exercisable at $0.12 on or before 31 October 2013. The Rights Issue closes at 5.00pm WST on 12 November 2009.

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