West Perth-based platinum company Nkwe Platinum Ltd has reached agreement with Indian Ocean Capital Pty Ltd to underwrite the exercise of the company's unlisted options, resulting in Nkwe receiving $7 million.
West Perth-based platinum company Nkwe Platinum Ltd has reached agreement with Indian Ocean Capital Pty Ltd to underwrite the exercise of the company's unlisted options, resulting in Nkwe receiving $7 million.
The full text of a company announcement is pasted below
Nkwe Platinum Limited (ASX: NKP) is pleased to announce that it has reached agreement with Indian Ocean Capital Pty Ltd to underwrite the exercise of the Company's unlisted options.
The underwriting will mean that all of the 14 million unlisted options (exercise price of 50 cents, expiry 30 June 2007)will be exercised resulting in the Company receiving gross funds of $7 million. The underwriting agreement is subject to normal underwriting terms and conditions and will be issued to Indian Ocean Capital Pty Ltd or its nominee within 10 business days.
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