ABN 50 127 291 927
ASX Code: EMU10 Walker Ave
West Perth, WA 6005
M +61 41798 1814
E info@emunickel.com.au
PO Box 1112
West Perth, WA 6872
Issued Capital: Shares - Quoted:34,642,856 fully paid shares
Options - Unquoted:4,596,438 exercisable at
$1.0878 by 27.2.2013
841,148 exercisable at
$0.5874 by 22.12.2014
82,736 exercisable at
$0.4266 by 21.12.2015
Cash: $3 million Directors: Peter Thomas (Non- executive Chairman) Greg Steemson (ManagingDirector)
George Sakalidis & Gavin Rutherford (Non-Executive Directors)
Messrs Thomas and Steemson, two of Emu's directors, have elected to subscribe for 7,142,856 ordinary fully paid shares at $0.07 per share (effectively representing the current market price for the securities) pursuant to the authority in that regard conferred by the approval of shareholders given at the 2012 annual general meeting of Emu thereby injecting an additional $500,000 of working capital.
As foreshadowed in the 2012 Annual Report and more recently in the September 2012 Quarterly Report, Emu Nickel NL has been and is currently assessing several advanced mining projects. While none of these opportunities has crystallised, it is the Board's intention to pursue
this strategy until a project meeting the Board's criteria of early cashflow is realised. To enable the Company to move quickly should such an event occur, the Board has resolved to proceed with a Rights Issue which offers existing shareholders the opportunity to participate in the growth of Emu.
The Rights Issue will: