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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
  0.00 0.0% 11.75 11.00 12.50 11.75 11.75 11.75 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.4 -2.8 -1.3 - 25

Prairie Mining Limited SPP - Further Extension to Closing Date

27/08/2020 10:04am

UK Regulatory (RNS & others)


TIDMPDZ

RNS Number : 3352X

Prairie Mining Limited

27 August 2020

PRAIRIE MINING LIMITED

   NEWS RELEASE |   27 August 2020 

SHARE PURCHASE PLAN - FURTHER EXTENSION TO CLOSING DATE

Prairie Mining Limited (Prairie or Company) advises that it will extend the Closing Date for all Eligible Shareholders to participate in the Company's Share Purchase Plan (SPP) to 5:00pm (CET) on 14 September 2020.

The Company understands that some state-controlled brokers in Poland are not allowing their clients to participate in the SPP due to Prairie's dispute with the Republic of Poland. Extending the Closing Date will allow Polish shareholders additional time to participate in the SPP.

The Company recommends that Polish shareholders who have been unable to but wish to participate in the SPP, should contact Prosper Capital Dom Maklerski S.A. on +48 (22) 201 11 30 or biuro@pcdm.pl .

An updated SPP timetable has been provided below.

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 days. 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 
------------------------------------------ 
 Revised Closing Date                          5:00pm (CET) on 14 September 2020 
  The date on which the Offer closes 
  Applications and payments must be 
  received by this date 
------------------------------------------ 
 Revised Announcement of SPP results                           17 September 2020 
------------------------------------------ 
 Revised Issue Date                                            23 September 2020 
  The date New Shares are intended to 
  be issued 
------------------------------------------ 
 Revised Quotation of New Shares on                            25 September 2020 
  ASX 
  With an application for the shares 
  to trade on the London and Warsaw 
  Stock exchanges occurring as soon 
  as possible following quotation on 
  ASX. 
------------------------------------------ 
 

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END

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August 27, 2020 05:04 ET (09:04 GMT)

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