I'm not interested in the uranium at this stage - but I really think the rights issue is a beauty and if you tuck away the free option for a while and take the bonus shares, I think it's going to be a sweet little deal mid term.
Todays rights issue ann is the one I like - forget the uranium for now - think we'll see more action on this over the coming week as they get some dates out to market. Full confidence of underwriting by Patersons also says there is market confidence in their future.
We've seen Mineral Sands become very profitable for other companies - and a U deal thrown in should give us some good mid term benefits.
The market took a bashing today, but I expect this to have a nice bounce when the timetable is released.
Ann:
O L Y M P I A
RESOURCES LIMITED
ABN 52 077 221 722
Office – Level 4, 25 Walters Drive Herdsman WA 6016
Tel: (08) 92441411 Fax: (08) 92441511
Postal Address: PO Box 1341 Osborne Park WA 6916
Website: www.olympiaresources.com
11 May 2007
The Manager
Australian Stock Exchange Limited (“ASX”)
Company Announcements Office
Dear Sir
Fully Underwritten Renounceable Rights Issue
Olympia Resources Limited is pleased to announce a renounceable rights issue (Rights
Issue) to raise approximately $3.2 million before costs. The Rights Issue offers two new
shares and one free attaching option for every seven shares held at an application price of 10
cents per share. The new options will have an exercise price of 20 cents and an expiry date
of 30 June 2010. The Company will apply for the quotation of new shares and new options
on ASX.
The Rights Issue is fully underwritten by Patersons Securities Limited and Olympia
Resources has incorporated a top up facility whereby eligible shareholders may apply for
additional shares in excess of their entitlement at the issue price. Additional shares will
only be available to the extent that other eligible shareholders do not take up their
entitlements.
The funds raised will be used to fund the development of the Company’s projects,
exploration and for working capital.
The Prospectus relating to this Rights Issue is expected to be lodged with ASIC and ASX on
Friday, 11 May 2007 and will be available after lodgement on the ASX website
www.asx.com.au and also on the Company’s website www.olympiaresources.com. An
Appendix 3B will be lodged with the ASX in due course.
Yours faithfully
Peter Gazzard
Managing Director
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- oversold but wait might have u in n.t
I'm not interested in the uranium at this stage - but I really...
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