Orica share purchase plan open

29 Feb 2024

Orica (ASX: ORI) announced on Wednesday, 21 February 2024 that it would be undertaking a share purchase plan (SPP). The SPP follows Orica’s successfully completed A$400 million placement to eligible institutional investors (Placement). The proceeds of the Placement and SPP will be used to partially fund the acquisition of Cyanco, a US based leader in the manufacture and distribution of sodium cyanide primarily serving the gold mining industries in the US, Canada, Mexico, Latin America and Africa.

Not for release or distribution in the United States.

The SPP is now open to eligible Orica shareholders, being shareholders who had a registered address in Australia or New Zealand on Orica’s register at 7.00pm (Melbourne time) on Tuesday, 20 February 2024 (Eligible Shareholders), to apply for up to A$30,000 of new fully paid ordinary shares (SPP Shares) free of any brokerage, commission and transaction costs.

SPP Shares will be offered at the lower of:

  • the price shares were issued under the Placement (which was A$15.84 per share); and
  • a 2.00% discount to the 5-day VWAP of Orica shares up to, and including, the closing date of the SPP, which is currently scheduled for 5.00pm (Melbourne time) on Monday, 18 March 2024.

The SPP will be capped at A$65 million and is not underwritten. Participation in the SPP is optional. SPP Shares will rank equally with existing Orica shares from their date of issue.

SPP Booklet

The SPP is subject to the terms and conditions set out in the SPP booklet, which is being sent to Eligible Shareholders today. Eligible Shareholders who have elected to receive electronic communications will receive details of how to obtain a copy of the SPP booklet and their personalised acceptance form via email. All other Eligible Shareholders will receive a copy of the SPP booklet and their personalised acceptance form via post.

Eligible Shareholders are encouraged to read the SPP booklet carefully, and if in any doubt about whether or not to accept the SPP offer, to consult with a financial or other professional adviser.

To apply for SPP Shares, Eligible Shareholders must, by 5.00pm (Melbourne time) on Monday, 18 March 2024, make a payment directly via BPAY®1 in accordance with the instructions on their personalised application form. Eligible Shareholders with a registered address in New Zealand who are unable to pay by BPAY may pay for SPP Shares by making an electronic funds transfer in accordance with the instructions on their personalised application form.

Personalised application forms can also be accessed by Eligible Shareholders via https://events.miraqle.com/ori-offer.

Shareholders with questions in relation to how to participate in the SPP may contact Orica’s registry from 8.30am to 7.30pm (Melbourne time) Monday to Friday on 1300 301 253 (callers within Australia) or +61 1300 301 253 (callers outside Australia).

1 Registered by BPAY Pty Ltd (ABN 69 079 137 518).

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