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Chatham raises another $1.24m

Chatham Rock Phosphate Limited (NZX:CRP.NZ - News) is pleased to advise that it has today raised a further NZD$1.24 million in new capital from qualified investors.

As previously announced to the market CRP is undertaking a rights issue on a 2 for 17 basis; each right granting its holder the right to subscribe for one ordinary share in CRP (and one new option to be granted for each share allotted). Rights trading is due to commence on Monday 8 September, 2014.

Shares have today been issued at NZD0.12 per share (or the approximate foreign currency equivalent). In addition, for each share issued, one CRPOB $0.688 option has been issued.