SHARE PURCHASE PLAN MRL Corporation Limited (MRL or the Company) is pleased to announce that it will undertake a share purchase plan (Plan) offering eligible shareholders the opportunity to acquire up to $15,000 worth of fully paid ordinary shares (New Shares) in the Company at $0.055 per share (Offer). Shareholders of MRL as at Thursday, 3 September 2015 (being the business day prior to the release of this announcement) will be entitled to participate in the Offer. Eligible Shareholders will also receive one free attaching option (New Option), for every two New Shares subscribed for and issued. The New Options will be exercisable at $0.10 on or before 21 May 2017. The New Options will be issued on the same terms and conditions as the existing option series (ASX:MRFAI). The New Shares are offered under the SPP and the associated Terms and Conditions, while the Company intends to offer the New Options by a prospectus shortly after the Offer closes (Prospectus). It is anticipated that the Plan will be distributed to those shareholders entitled to participate on or around 7 September 2015. The Prospectus will be sent to each shareholder who accepts the Offer and to each investor who subscribes for New Shares under the shortfall (if applicable). The Offer is scheduled to open on Monday, 7 September 2015 and currently scheduled to close on Thursday, 24 September 2015. A maximum of up to 29,000,000 Shares may be issued pursuant to the Offer to raise up to a maximum of $1,595,000. The Company will seek to issue up to 14,500,000 New Options under the Prospectus. If less than 29,000,000 Shares are applied for pursuant to the Offer, the shortfall may be placed at the Directors’ discretion in consultation with our corporate advisors, Far East Capital Limited. For further information please contact: Peter R. Youd Executive Director Chief Financial Officer & Company Secretary
MRF Price at posting:
6.1¢ Sentiment: None Disclosure: Held
