non-renounceable rights issue, page-6

re: non-renounceable rights issue/chutton no probs mate
glad you brought this up because ive been looking at this for a couple of weeks. i feel that it might have potential
NON-RENOUNCEABLE RIGHTS ISSUE On 3 February 2005, Wasabi Energy Limited (Company) lodged a prospectus (Prospectus) with Australian Stock Exchange Limited (ASX) and the Australian Investments Securities Commission (ASIC) for a non-renounceable rights issue of up to approximately 129,264,454 shares at an issue price of 0.0.16 cents each (Shares) on the basis of 1 (one) Share for every 2 (two) fully paid ordinary shares in the capital of the Company (Shares) held at 5.00 pm (WST) on 14 February 2005, together with one free attaching option (Option) per Share issued to raise up to approximately $2,068,230 (Rights Issue). The Prospectus is available on the ASX website at www.asx.com.au. The Shares to be issued pursuant to the Rights Issue will be fully paid ordinary shares in the capital of the Company. The expiry date of the Options is 31 December 2006 (Expiry Date). The exercise price of each Options is $0.02. The proceeds from the Rights Issue will be used to fund a significant increase in theŒ