The Directors of Oro Verde Limited (ASX: OVL) (Oro Verde or the Company) advise that as a result of current market conditions, the Company is immediately terminating the Share Purchase Plan (SPP) announced on 2 March 2020.
The SPP was intended to enable shareholders to purchase shares in the Company at the same price as the shares recently placed with sophisticated and professional investors. However, Oro Verde took the decision to terminate the SPP in light of significantly changed market conditions in recent weeks.
The decision does not affect the recently completed share placement to sophisticated and professional investors which raised A$1.15million at A$0.08 per share.
All SPP application monies received will be refunded in full (without interest) shortly, per the terms set out in the SPP offer booklet.
***** ENDS ***** Authorised for release by Brett Dickson, Company Secretary.
For enquiries, contact: Brett Dickson Company Secretary
+61 8 9481 2555