Legend
Announces Filing
of Rights Offering
Registration
Statement Legend International
Holdings, Inc.
(OTCBB:LGDI)
announced today
that it had filed a
registration statement with the
Securities and Exchange Commission for a
proposed rights offering to holders of its common
stock. Upon Effectiveness of the registration statement,
the Company intends to distribute non-transferable
subscription rights to purchase up to an aggregate
of 444,047,971 shares of common stock. Each
stockholder of record on the record date will receive
one subscription right for each share of common stock owned on the record date. Each subscription
right entitles the holder to purchase one share of
common stock at a purchase price of $0.05 per
share. The Company expects the record date to be
October 24, 2013 or later. Upon commencement of
the rights offering, stockholders will be able to exercise their rights to purchase shares in the rights
offering until the expiration date, which has not yet
been determined. The Company plans to finalize the
record date and the expiration date for the rights
offering shortly before the registration statement is
declared effective by the SEC. The Company reserves the right to cancel or terminate the rights
offering at any time prior to the expiration of the
rights offering. Perfectus Management Ltd., an affiliate of the
Company’s Chairman, President and Chief
Executive Officer, has agreed, subject to certain
conditions, to purchase 200 million shares of
common stock not otherwise purchased by our
stockholders in the subscription rights, at the subscription price of $0.05, totalling $10 million
(“Standby Purchase Quantity). In addition, Perfectus
has been granted an option to purchase the balance
of any shares not subscribed for by shareholders
under the rights issue and after the purchase of the
Standby Purchase Quantity (“Option Quantity”). The consideration for the Option Quantity is $0.05 per
share. The Company intends to use the net proceeds of
the offering, to develop its phosphate assets and for
general corporate purposes. Any remaining net
proceeds will be used for working capital and
general corporate purposes. A registration statement relating to the shares of
common stock underlying the rights has been filed
with the Securities and Exchange Commission but
has not yet become effective. These securities may
not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective. A copy of the prospectus relating to the rights
offering meeting the requirements of Section 10 of
the Securities Act of 1933 and additional materials
relating to the rights offering will be mailed to
stockholders of the Company shortly after the
record date. Stockholders will then also be able to obtain a copy of this prospectus from the
Subscription Agent for the offering. This press release does not constitute an offer to
sell or the solicitation of an offer to buy the
securities discussed herein, and there shall not be
any offer, solicitation or sale of these securities in
any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such state. “Safe Harbor” Statement. With the exception of the
historical information contained in this news release,
the matters described herein contain “forward-
looking” statements that involve risk and
uncertainties that may individually or collectively
impact the maters herein described. These are detailed from time to time in the “Risk Factors”
section of the prospectus and the Company’s SEC
reports. Copyright Business Wire 2013 Source: Business Wire (September 2, 2013 - 6:00
AM EDT)

What's a rights issue?

who dat?

same here...fingers, toes, etc. all crossed!

Rink

ggg.gl/