Advises Grant of Waiver to ASX Listing Rule 6.24
Brisbane, Mar 3, 2014 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) ("Company") advises that it has been granted a waiver from ASX listing rule 6.24 to the extent necessary to permit the Company not to send the notice required by paragraph 6.1 of Appendix 6A in relation to the 60,571,728 quoted options exercisable at $0.80 (80 cents) each, expiring 5pm (WST) on 31 March 2014 (ASX:CTPO).
Accordingly, option expiry notices will not be sent by the Company to quoted option holders.
In accordance with the ASX listing rules and the conditions of the waiver granted by the ASX, the Company provides the following information:
1) The number of options to which this notice applies is 60,571,728;
2) On exercise, each option entitles the holder to receive 1 fully paid ordinary share in the capital of the Company;
3) The exercise price for each option is $0.80 (80 cents);
4) The due date for payment of the exercise price is 5pm (WST) on 30 March 2014;
5) If payment is not received by 5pm (WST) on 30 March 2014, the options will lapse and all rights under the options will cease;
6) Official quotation of the options on ASX will cease on 24 March 2014;
7) The market price of fully paid ordinary shares in the Company on 28 February 2014 (being the last trading day prior to the date of this notice) was $0.44 (44 cents);
8) During the three months immediately preceding the date of this notice, the highest market price of fully paid ordinary shares in the Company was $0.47 (47 cents) on 20 February 2014 and the lowest market price was $0.36 (36 cents) on 11, 20, 23 and 24 December 2013; and
9) The exercise of the options is not underwritten.
About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
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