13 January 2012
Dear Shareholder,
The board of Alchemy Resources Limited (the Company) has
announced a pro-rata non- renounceable offer to eligible
shareholders of 1 ordinary fully paid share for every 3
shares held on the Record Date (the Issue) at an issue price
of $0.13 per share to raise approximately $4.2 million
(before costs).
The Prospectus for the Issue was lodged with the Australian
Securities and Investments Commission (ASIC) on 12 January
2012 and will be sent to all eligible shareholders together
with a personalised Entitlement and Acceptance Application
Form by 30 January 2012. The Prospectus is available on both
the ASX website (www.asx.com.au) and on the Company's website
(www.alchemyresources.com.au).
On 16 December 2011 shareholders approved the issue of $3.5
million worth of shares to Grosvenor Gold Pty Ltd (or its
nominee) to acquire various exploration assets adjacent to
the Company's tenements in the Bryah Basin (the area which
hosts Sandfire Resources' DeGrussa copper-gold project) and
settle litigation. The Issue satisfies a condition of the
acquisition and settlement, being a capital raising of a
minimum of $4.0 million, and sets the deemed issue price of
the share issue to Grosvenor Gold at $0.13 per share (or
26,923,077 shares in total). Upon settlement of the purchase
of the Grosvenor exploration assets, the Company will
immediately commence a significant exploration program
proposed for its tenement holding in the region.
The Issue is non-renounceable which means that there will be
no rights trading.
Type of Issue Pro-rata non-renounceable issue of ordinary
fully paid shares on a 1 for 3 basis
Amount payable 13 cents per share
No. of shares to be issued 32,482,470
Amount to be raised $4,222,721 before costs
Purpose of the Issue Exploration on the Grosvenor Assets and
the Company's existing Projects
Level 2, 72 Kings Park Road | GPO Box 2815 | T: +61 8 9481 4400 | E: admin@alchemyresources.com.au |
West Perth WA 6005 | Perth WA 6001 | F: +61 8 9481 4404 | W: www.alchemyresources.com.au |
Underwriting Fully underwritten by Jindalee Resources Limited
and
Grandor Pty Ltd
Shortfall applications Shareholders will be able to apply for
additional shares arising from any shortfall acceptances
Quotation of New Shares Application for quotation of the New
Shares has been made to the Australian Securities Exchange
(ASX)
Announcement of Entitlement Issue and Lodgement of Prospectus
12 January 2012
Ex Date - shares trade ex Entitlement 17 January 2012
Record date to determine Entitlement 23 January 2012
Prospectus and Entitlement and Acceptance Form sent to
Shareholders 30 January 2012
Closing date for receipt of acceptances 13 February 2012
Allotment and issue of New Shares and despatch of
shareholding statements 21 February 2012
Full details of the Issue are set out in the Prospectus,
which is expected to be despatched to
Shareholders on or about 30 January 2012.
Any Eligible Shareholder who wishes to acquire new shares
pursuant to the Issue should consider the Prospectus in
deciding whether to subscribe for shares and will need to
complete the personalised Entitlement and Acceptance Form
that will accompany the Issue Prospectus.
I am particularly pleased that Jindalee Resources Ltd
(Jindalee) and Grandor Pty Ltd (a company controlled by Mr
Mark Scott, the Chairman of Jindalee), two of your Company`s
key shareholders, have both agreed to take up their
Entitlements and to fully underwrite the balance of the
Issue. Details of this underwriting are provided in the Issue
Prospectus. I believe this indicates strong support for the
future of the Company and firm interest in the technical
merit of the Company's Gascoyne Projects.
On behalf of your Board, I invite you to consider this
investment opportunity and thank you for your ongoing support
for our Company.
Yours faithfully
Level 2, 72 Kings Park Road | GPO Box 2815 | T: +61 8 9481 4400 | E: admin@alchemyresources.com.au |
West Perth WA 6005 | Perth WA 6001 | F: +61 8 9481 4404 | W: www.alchemyresources.com.au |
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13 Jan 2012: Letter to Shareholders re Non-Renounceable Issue |