Dacian Gold Limited (ASX Code: DCN) (Company) has announced a fully underwritten 1 for 3.1 accelerated non-renounceable pro-rata entitlement offer of new ordinary shares at an issue price of $2.00 per new share to raise approximately A$94.4 million (Entitlement Offer).
The Entitlement Offer has the following two components.
New shares issued under the Entitlement Offer will rank equally in all respects with existing shares from the date of issue.
The anticipated timetable in relation to the Entitlement Offer is set out below.
Event |
Date |
Trading Halt commences Institutional Entitlement Offer conducted |
Wednesday, 22 February 2017 |
Announce results of Institutional Entitlement Offer and Placement Trading halt lifted Trading in ordinary shares resumes on an ex-entitlement basis (ASX Code: DCN) |
Friday, 24 February 2017 |
Record Date for Entitlement Offer |
Friday, 24 February 2017 |
Retail Entitlement Offer Booklet and acceptance forms despatched Retail Entitlement Offer opens |
Tuesday, 28 February 2017 |
Settlement of Institutional Entitlement Offer and Placement |
Friday, 3 March 2017 |
Issue of new shares under the Institutional Entitlement Offer and trading commences in new shares on a normal settlement basis (ASX Code: DCN) |
Monday, 6 March 2017 |
Retail Entitlement Offer closes |
Monday, 20 March 2017 |
Announce results and shortfall (if any) of Retail Entitlement Offer |
Wednesday, 22 March 2017 |
Issue of new shares under the Retail Entitlement Offer |
Monday, 27 March 2017 |
New shares issued under the Retail Entitlement Offer commence trading on a normal settlement basis (ASX Code: DCN) |
Tuesday, 28 March 2017 |
Despatch of holdings statements |
Tuesday, 28 March 2017 |
Settlement issues
Despite the fact that securities are trading ‘ex entitlement’ on ASX Trade, CHESS will not recognise for settlement purposes the ‘ex entitlement’ or the ‘cum entitlement’ tag on CHESS messages and CHESS will not maintain cum balances during the deemed ‘CHESS ex-period’, i.e. the period commencing on the deemed CHESS ex-date up to and including the record date. However, a record date cum balance will be available the business day following the record date, which will be equal to the registered holding balance at CHESS end of day on the record date. As a result any transfer that occurs prior to record date will be effectively transferred on a ‘cum entitlement’ basis.
Therefore, Participants must ensure that any transfer, including the priming of Broker Entrepot Accounts, is conducted in accordance with the basis of quote. For example, a transfer in relation to a transaction conducted on an ‘ex entitlement’ basis should ordinarily only occur post record date.
CHESS will perform automatic diary adjustments to ‘cum entitlement’ settlement obligations outstanding as at the record date.
Trading issues
ASX will not price a ‘cum entitlement’ market with respect to trading in the Company’s securities. Persons who acquire the Company’s securities after the commencement of the trading halt on Wednesday, 22 February 2017 are not entitled to participate in the Entitlement Offer.
For further details, please refer to the Company’s announcements on Wednesday 22 February 2017.
Elizabeth Harris
Elizabeth Harris
+61 (08) 9224 0000
info@asx.com.au