Security Purchase Plan
Perth, Oct 14, 2013 AEST (ABN Newswire) - On behalf of the Board of Directors of WestSide Corporation Limited (
ASX:WCL), I am pleased to invite you to participate in a share purchase plan (SPP) to purchase up to A$14,999.94 worth of fully paid ordinary shares in WestSide (Shares). The SPP follows the successful private placement to institutional and sophisticated investors of $8 million announced on 2 October 2013.
Funds raised under the SPP will be used to fund WestSide's operations for the financial year ended 30 June 2014 while the Company seeks to secure new gas supply agreements and finalise associated field development plans.
The SPP provides you, as an eligible shareholder, with the opportunity to increase your shareholding in WestSide at an issue price of A$0.18 per share without incurring brokerage, commissions or other transaction costs. This issue price is the same as the placement price and represents a 15% discount to the average closing price of WestSide's ordinary shares over the last five trading days before the announcement of the SPP on 2 October 2013.
WestSide seeks to raise A$2 million under the SPP.
The enclosed document (link below) contains the terms and conditions of the SPP. With this document you will also find your personalised application form (Application Form), to be completed in accordance with the instructions on that form. You should read both the enclosed document and the Application Form in their entirety.
It is important to note that the SPP is scheduled to close at 5.00pm (Sydney time) on Monday, 4 November 2013. To participate, you need to ensure that you have paid your application monies via BPAY(R) pursuant to the instructions set out on the Application Form OR your completed Application Form and your cheque is received by our share registry, Boardroom Pty Limited, before this time and date.
You can participate in the SPP in respect of a minimum of 2,777 shares (A$499.86) up to and subject to a maximum of 83,333 shares (A$14,999.94) for each eligible shareholder, irrespective of the size of an eligible shareholder's existing shareholding.
Participation in the SPP is optional and the right to participate is not transferable.
You should consult your stockbroker, accountant or other independent professional adviser to evaluate whether or not to participate in the SPP.
You can find more information in respect of WestSide's plans in our recent investor presentation on the Company's website:
http://www.westsidecorporation.com/Investor_Centre/ASX_Announcements
If you have any questions in relation to the SPP please contact WestSide's Share Registry Inquiry Line on 1300 737 760 (within Australia) and +61 2 9290 9600 (outside Australia) between 8:15am and 5.30pm (Sydney time) Monday to Friday.
On behalf of the WestSide Board, I invite you to consider this investment opportunity and thank you for your ongoing support of our company.
Angus Karoll
Chairman
To view the full detail, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WCL-760953.pdf
Contact
WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com
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