Latin Resources Limited Option Entitlement Issue

TIDMLRS

RNS Number : 9696C

Latin Resources Limited

23 April 2013

Option Entitlement Issue - Revised Timetable

The revised timetable for the Option Entitlement Issue that was previously announced on 5 April 2013 and deferred on 12 April 2013 is set out below.

The non-renounceable entitlement issue involves one (1) Option (New Option) for every two (2) Shares held by those Shareholders registered at the Record Date at an issue price of $0.01 per Option ('Offer').

The Offer is now expected to raise up to approximately $1,052,887 (less costs) through the issue of up to 105,288,717 New Options at $0.01.

Proceeds from the Offer will be used to fund, the costs of the Offer, progress of the Company's projects in Peru and working capital.

The Offer will be available to all registered shareholders who hold shares in the Company at the Record Date.

The Company will apply for official quotation of the New Options issued under the Prospectus which will have an exercise price of $0.20 each and a term of 18 months from the issue date.

The revised proposed timetable for the Offer is set out in the table below:

 
 Lodgement of Prospectus & Appendix 3B with        26 April 2013 
  ASIC and ASX 
------------------------------------------------  -------------- 
 Notice sent to Optionholders                      26 April 2013 
------------------------------------------------  -------------- 
 Notice sent to Shareholders                       30 April 2013 
------------------------------------------------  -------------- 
 'Ex' date                                            2 May 2013 
------------------------------------------------  -------------- 
 Record date for determining entitlements             8 May 2013 
------------------------------------------------  -------------- 
 Prospectus despatched to Shareholders               14 May 2013 
------------------------------------------------  -------------- 
 Closing date for acceptances*                       28 May 2013 
------------------------------------------------  -------------- 
 Securities quoted on a deferred settlement          29 May 2013 
  basis 
------------------------------------------------  -------------- 
 ASX notified of under subscriptions                 31 May 2013 
------------------------------------------------  -------------- 
 Despatch of holding statements                      4 June 2013 
------------------------------------------------  -------------- 
 Anticipated date of Quotation of Options issued     5 June 2013 
  under the Offer 
------------------------------------------------  --------------

*The Directors may extend the Closing Date by giving at least 6 business days' notice to ASX prior to the Closing Date. As such the date the new securities are expected to commence trading on ASX may vary.

On behalf of the Board

Anthony Begovich

Company Secretary

This information is provided by RNS

The company news service from the London Stock Exchange

END

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