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Wedgetail varies rights issue

WEDGETAIL Exploration’s non-renounceable entitlements has been varied from 1 cent to 4 cents to two for seven at 3.5 cents.

The issue of 205,765,862 shares at 3.5 cents a share will raise $7,201,805.

Wedgetail shareholders will be able to apply for two shares at 3.5 cents each for every seven shares they hold in Wedgetail as at November 18.

With each share there will be one free attaching option exercisable at 5 cents on or before December 31 2005.

The issue of 189,892,846 shares has been jointly underwritten by Hartleys Limited and Paterson Ord Minnett and the Golden Arrow Fund II has provided Wedgetail with a firm commitment to subscribe for the remaining 15,873,016 for $555,555.

Applications will open on November 21 and will close on December 9.

 

 

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