Share Purchase Plan
Brisbane, Feb 11, 2015 AEST (ABN Newswire) - Orocobre Limited (
ASX:ORE) (TSE:ORL) is pleased to offer existing shareholders the opportunity to participate in a $15,000,000 Share Purchase Plan (the Offer) to acquire additional shares at an Issue Price of $2.55 per share.
Orocobre has recently completed commissioning the Olaroz Lithium plant which is now ramping up to full production. A copy of our recent ASX announcement is enclosed. Orocobre has also now completed a $40,000,000 institutional placement at $2.55 per share.
The Offer will open on 16 February and will remain open for subscription until 5pm (Sydney time) on 10 March 2015.
Key Features of the Offer
- Shares are offered at $2.55 per share, being the same price paid by institutional investors for shares in Orocobre in the recently completed $40,000,000 institutional placement.
- Shares will be offered at a 13% discount to the closing price on the last day of trading prior to the announcement of the Offer.
- Canaccord Genuity (Australia) Ltd has underwritten the Offer up to $10,000,000.
- There are no transaction costs to participants.
The right to participate in the Offer is optional and is available exclusively to shareholders who were registered as holders of fully paid ordinary shares in the Company as at 7.00pm Australian Eastern Daylight Time (AEDT) on 4 February 2015 and whose address in the Company's share register was in Australia or New Zealand (Eligible Shareholders).
Eligible Shareholders can purchase as little as $1,000 of shares up to a maximum of $15,000. All shares issued under the Offer will rank equally with existing Orocobre shares.
If you do not wish to participate in the Offer, you do not have to do anything and may disregard this letter and the other Offer Documents.
The Company reserves the right to scale back applications (in its absolute discretion) in the event that the total value of the acceptances to the Offer exceeds $15,000,000.
The terms and conditions of the Offer are outlined in the enclosed Offer Booklet. By making an application to purchase shares under the Offer, you will have agreed to be bound by those terms and conditions. We encourage you to read and consider carefully the Offer terms and conditions.
For all enquiries regarding the Offer, your holding of shares, or other registry enquires please contact Boardroom Pty Ltd, GPO Box 3993, Sydney NSW 2001. Tel (within Australia) 1300 737 760, (outside Australia) +61 2 9290 9600, or Facsimile +61 2 9279 0664.
To view the share purchase plan, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ORE-842029.pdf
About Orocobre Limited
Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (
ASX:ORE) (TSE:ORL) (OTCMKTS:OROCF), and is building a substantial Argentine based industrial chemicals company through its portfolio of lithium, potash and boron assets. In partnership with Toyota Tsusho Corporation (TTC) and JEMSE, Orocobre has built and is now operating the world's first commercial, brine-based lithium operation constructed in approximately 20 years.
In 2018 Orocobre announced the Stage 2 Expansion of its flagship Olaroz Lithium Facility in Argentina. The Stage 2 Expansion will add 25,000 tpa of lithium carbonate production capacity, taking full production and capacity to 42,500 tpa of lithium carbonate for sale to industrial, technical and battery markets, positioning Orocobre as one of the world's largest and lowest cost lithium chemicals producers.
Additionally, Orocobre and Toyota Tsusho Corporation have commenced construction of the 10,000 tpa lithium hydroxide plant in Naraha, Japan. The construction of the Naraha Lithium Hydroxide Plant will further cement Orocobre's position as a global lithium chemicals producer operating at the bottom quartile of the lithium cost curve. This new hydroxide plant will be the first of its kind in Japan and will provide Orocobre product diversification suitable for different battery technologies and the potential for significant margin growth on our primary lithium carbonate being converted to battery grade lithium hydroxide.
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