FIRSTWAVE CLOUD TECHNOLOGY LTD T 000001 000 MTH
MR SAM SAMPLE FLAT 123
123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE
SAMPLEVILLE VIC 3030
8 January 2015
Dear Shareholder
RENOUNCEABLE RIGHTS ISSUE
On 19 December 2014 Tellus Resources Limited (TLU or the Company) announced the details of a partially underwritten capital raising by way of a three (3) for two (2) pro-rata renounceable rights issue at a price of 0.2 cents per share.
The Rights Issue seeks to raise up to approximately $897,000. The funds to be raised from the Rights Issue will be used to fund the Company's ongoing working capital requirements, meet expenses associated with the Covenant Mondo joint venture and maintain its various tenements and other assets in good standing.
TLU invites shareholders who were registered as such at 7.00 pm (Sydney time) on 13 January 2015 (Record Date), and who have a registered address in Australia or New Zealand (Eligible Shareholders), to participate in the Rights Issue.
Fractional entitlements will be rounded up to the nearest whole number.
New Shares will rank equally with all fully paid ordinary shares in the capital of the Company already on issue.
Assuming the Offer is fully subscribed, following completion of the Offer the Company will have issued approximately 448,272,443 New Shares resulting in total Shares on issue of approximately
747,120,738.
Eligible Shareholders are also invited to consider applying for Additional Shares in addition to their rights, particularly if they have small or unmarketable parcels of Company Shares.
Full details of the Rights Issue are contained in the Prospectus which will be mailed to Eligible Shareholders shortly. A copy of the Prospectus will also be made available on the ASX and Company websites.
Level 7, 28 Grenfell Street, Adelaide, South Australia 5034
Telephone: (61 8) 8100 9200 Fax: (61 8) 8212 9291
Web: www.tellusresources.com.auEmail: admin@tellusresources.com.au
ABN: 35 144 733 595
Ineligible Shareholders
A Shareholder who has a registered address outside Australia and New Zealand (Ineligible
Shareholder) will not be eligible to participate in the Offer.
As you are not eligible to participate in the Offer you will not be sent a copy of the Prospectus. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia and New Zealand compared with the small number of Ineligible Shareholders and the number and value of New Shares to which they would otherwise be entitled.
The Company has appointed Taycol Nominees Pty. Ltd. (Nominee) as nominee to sell the rights to subscribe for New Shares pursuant to the Prospectus (Entitlements) to which Ineligible Shareholders are entitled. The Nominee will have the absolute and sole discretion to determine the timing and price at which the Entitlements may be sold and the manner of any such sale.
Any proceeds of the sale of these Entitlements will firstly be applied against expenses of such sale, including brokerage, and any balance will accrue to Ineligible Shareholders.
The net proceeds of the sale of these Entitlements will then be forwarded by the Company as soon as practicable to the Ineligible Shareholders, in proportion to their share of such Entitlements (after deducting brokerage commission and other expenses). If any such net proceeds of sale are less than the reasonable costs that would be incurred by the Company for distributing those proceeds, such proceeds may be retained by the Company.
Notwithstanding that the Nominee may sell Entitlements, Ineligible Shareholders may nevertheless receive no net proceeds if the costs of the sale are greater than the sale proceeds.
There is no guarantee that the Nominee will be able to sell Entitlements of Ineligible Shareholders on ASX and Ineligible Shareholders may receive no value for the Entitlements. Both the Company and the Nominee take no responsibility for the outcome of the sale of such Entitlements or the failure to sell such Entitlements.
Level 7, 28 Grenfell Street, Adelaide, South Australia 5034
Telephone: (61 8) 8100 9200 Fax: (61 8) 8212 9291
Web: www.tellusresources.com.auEmail: admin@tellusresources.com.au
ABN: 35 144 733 595
Key dates which shareholders should note are as follows:
EVENT | DATE |
Announcement of Rights Issue | 19 December 2014 |
Prospectus and Appendix 3B lodged with ASIC and ASX | 7 January 2015 |
Ex Date Rights trading commences | 9 January 2015 |
Record Date to identify Shareholders entitled to participate in the Offer | 13 January 2015 |
Prospectus and Entitlement and Acceptance Forms dispatched to Shareholders Opening Date | 16 January 2015 |
Rights trading ends | 20 January 2015 |
Deferred settlement trading of securities begins | 21 January 2015 |
Closing Date for Acceptances (5.00pm Adelaide time) | 28 January 2015 |
Notification to ASX of under subscriptions | 2 February 2015 |
Issue Date - Allotment of New Shares Deferred settlement trading ends | 4 February 2015 |
Expected date for commencement of normal trading of New Shares on ASX | 5 February 2015 |
These dates are subject to change and are indicative only. TLU reserves the right to amend this timetable, including, subject to the
Corporations Act and Listing Rules, to extend the Closing Date.
Yours faithfully
Bob Kennedy
Chairman
Level 7, 28 Grenfell Street, Adelaide, South Australia 5034
Telephone: (61 8) 8100 9200 Fax: (61 8) 8212 9291
Web: www.tellusresources.com.auEmail: admin@tellusresources.com.au
ABN: 35 144 733 595
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