Precious Metal Resources (ASX:PMR) has now completed due diligence on its acquisition target CK Graphic Sdn Bhd.
CK Graphic was established in Malaysia in 2003 and has grown as a visual communication company focussed on the latest media and visualisation technology.
PMR is required to recomply with chapters 1 and 2 of the ASX listing rules and this will be required before the completion of the acquisition.
PMR has determined to increase the amount to be raised via the public offer from a minimum of $3 million to a minimum of $4 million via a prospectus, to be lodged shortly following the meeting of shareholders (subject to approval being obtained).
The raising will be via the issue of a minimum of 20,000,000 fully paid ordinary shares, priced at $0.20 per share.
The amount raised is a condition precedent to completion of the acquisition.
Consideration
Consideration for CK Graphic remains the same with the issue of 37,500,000 fully paid ordinary shares at $0.20 per share, with 37,500,000 attaching unlisted options exercisable at $0.20 per share within 3 years from the date of issue.
