Archer Exploration Limited - Share Purchase Plan Allotment and Return Cheques
14.05.2012 | ABN Newswire
13:47 AEST May 14, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - As advised in the release to the ASX on 3 May 2012, the Archer Exploration Limited (ASX:AXE) Share Purchase Plan (SPP) was oversubscribed and closed early with applications received by mail postmarked 3 May 2012 or earlier, or BPay up to 6.00 pm on 3 May 2012 to be accepted. Application monies received after the close will be fully refunded.
Even though the SPP was closed early, there was a significant oversubscription and all valid applications received from entitled holders prior to the amended closing date will be scaled back. Successful applicants will receive approximately 70% of the number of shares applied for with the remaining application monies to be refunded.
The original Key Dates for the SPP have not changed and the maximum 5,000,000 shares to be issued under the SPP will be allotted on 16 May 2012. The Despatch Date for the confirmation of transaction and refund cheques will be mailed to applicants on 18 May 2012.
The Directors wish to thank all shareholders who have participated in the SPP for the continued confidence they have shown in the Company.
About Archer Exploration Limited:
Archer Exploration Limited (ASX:AXE) is a copper, gold and uranium explorer focused on the discovery of world-class ore deposits.
The company has carefully acquired a portfolio of projects, covering an area in excess of 7,000 km2, in the highly prospective Gawler Craton and Adelaide Fold Belt regions of South Australia. All projects are 100% owned by the company.
The company's flagship Evelyn Dam prospect in the West Roxby Project is an iron ore-copper-gold-uranium (IOCG-U) target which has a gravity anomaly similar in size to the nearby Olympic Dam operations.
Archer Exploration Limited has an experienced board and management team and has the ability to maximise the potential of the company's world-class projects.
Contact:
Archer Exploration Limited
T: +62-8-8272-3288
WWW: www.archerexploration.com.au
