EDITOR: | January 8th, 2014

East Africa to undertake a 1 for 3 non-renounceable entitlement issue of approximately 75,802,547 shares at an issue price of $0.01 per share.

| January 08, 2014 | No Comments

January 8, 2014 (Source: East Africa Resources) — East Africa Resources Limited (ASX:EAF) is pleased to announce that it will undertake a 1 for 3 entitlement issue to all eligible shareholders on the record date, 17 January 2014, of approximately 75,802,547 shares at an issue price of $0.01 per share.

The share issue will raise approximately $758,025 before costs and will be applied to funding East Africa’s exploration activities and working capital.

Non-renounceable 1 for 3 Entitlement issue to eligible shareholders registered on the record date, 4.00pm AWST, 17 January 2014.

The Entitlement Issue will offer each Eligible Shareholder the right to subscribe for one (1) new share (“New Share”) in the capital of the Company for every three (3) shares held by that shareholder on the Record Date, at an issue price of 1 cent per New Share to raise up to $758,025 before expenses of the Entitlement Issue.

The Entitlement Issue will open on 22 January 2014 and close on 11 February 2014.
The timetable for the share issue program follows below.

Announcement of Entitlement Issue and Application for Quotation of New Shares (Appendix 3B) Wednesday, 8 January 2014
Letter to Shareholders advising of Entitlement Issue Friday, 10 January 2014
Ex-Date: Shares Quoted ex-Entitlement Monday, 13 January 2014
Record Date Friday, 17 January 2014
Issue Cleansing Notice in accordance with Section 708AA of Corporations Act Wednesday, 22 January 2014
Despatch offer of Entitlement Issue to Eligible Shareholders Wednesday, 22 January 2014
Closing Date Tuesday, 11 February 2014
Securities quoted on a deferred settlement basis Wednesday, 12 February 2014
Notification of under subscriptions Friday, 14 February 2014
Despatch of Holding Statements and deferred settlement ends Wednesday, 19 February 2014

Raj Shah


Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>

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