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Share Name Share Symbol Market Type Share ISIN Share Description
Prairie Mining Limited LSE:PDZ London Ordinary Share AU000000PDZ2 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.75 -5.56% 12.75 12.00 13.50 13.50 12.75 13.50 32,378 16:15:45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.4 -2.8 -1.3 - 27

Prairie Mining Limited SPP - Closing Date Extended

11/08/2020 7:51am

UK Regulatory (RNS & others)


TIDMPDZ

RNS Number : 7678V

Prairie Mining Limited

11 August 2020

PRAIRIE MINING LIMITED

   NEWS RELEASE |   11 August 2020 

SHARE PURCHASE PLAN - CLOSING DATE EXTENDED TO

ALLOW POLISH PARTICIPATION

Prairie Mining Limited (Prairie or Company) advises that following logistical and processing issues that have prevented Polish shareholders from participating in the Company's Share Purchase Plan (SPP), the Company is extending the Closing Date for all Eligible Shareholders to participate in the SPP to 5:00pm (CET) on 31 August 2020. The issues that have affected Polish Shareholders have now been resolved and given the strong Polish interest in the SPP, the extended Closing Date will ensure that Polish shareholders are not disadvantaged from the delay.

An updated timetable has been provided over page.

The Company encourages shareholders eligible to participate in the SPP to lodge their SPP application forms and/or remit their application monies as soon as possible as the Company will not accept any late applications and reserves the right, subject to the Corporations Act and the ASX Listing Rules, to vary the closing date without prior notice, including closing the SPP early.

ARBITRATION CLAIMS

On 1 July 2020, Prairie announced it had executed a Litigation Funding Agreement (LFA) for A$18m (US$12.3m) with LCM Funding UK Limited (a subsidiary of Litigation Capital Management Limited). The facility is available for immediate draw down for Prairie to pursue damages claims in relation to the investment dispute between Prairie and the Polish Government that has arisen out of certain measures taken by Poland in breach of the Energy Charter Treaty and the Australia-Poland Bilateral Investment Treaty (Treaties).

Prairie and its legal counsel are currently preparing for arbitration claims which will be submitted in the coming weeks. The claim will allege that the Republic of Poland has breached its obligations under both domestic law and Treaties. Prairie's claim for damages may include, but is not limited to, lost profits for both the Jan Karski and Debiensko mines as well as the value of Prairie's historic expenditure in developing both mines plus interest and costs.

For further information, please contact:

 
 Prairie Mining Limited              Tel: +44 207 478 3900 
  Ben Stoikovich, Chief Executive   Email: info@pdz.com.au 
   Officer 
 Sapan Ghai, Head of Corporate 
  Development 
  Kazimierz Chojna, Commercial 
  Officer 
 

This announcement has been authorised for release by the Company Secretary.

Updated SPP Timetable

 
 Details                                                                    Date 
 Record Date                                 5:00pm (Perth time) on 20 July 2020 
  The date on which the Company determines 
  Eligible Shareholders 
------------------------------------------ 
 Dispatch Date                                                      23 July 2020 
  The date on which this document and 
  the Application Forms are dispatched 
  to Eligible Shareholders 
------------------------------------------ 
 Opening Date                                                       23 July 2020 
  The date on which the Offer opens 
------------------------------------------ 
 Closing Date                                     5:00pm (CET) on 31 August 2020 
  The date on which the Offer closes 
  Applications and payments must be 
  received by this date 
------------------------------------------ 
 Announcement of SPP results                                    3 September 2020 
------------------------------------------ 
 Issue Date                                                     9 September 2020 
  The date New Shares are intended to 
  be issued 
------------------------------------------ 
 Quotation of New Shares on ASX                                11 September 2020 
  With an application for the shares 
  to trade on the London and Warsaw 
  Stock exchanges occurring as soon 
  as possible following quotation on 
  ASX. 
------------------------------------------ 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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August 11, 2020 02:51 ET (06:51 GMT)

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