Rights Issue Offer
7/09/2011
NobleOak has announced a non-renounceable pro rata offer of Shares each at an issue price of $0.50 to Eligible Shareholders on the basis of 8 Shares for every 7 Shares on 15th July 2011.
The rights issue to raise $2.2million will be used:
· to provide additional working capital as well as to meet statutory capital reserve requirements as the cost of starting up a company manufacturing and distributing life insurance product is capital intensive;
· to enable NobleOak to achieve its strategic business plans as it needs to invest and update its infrastructure;
· to raise sufficient capital to take up the numerous business opportunities that are available to the Company.
Shortfall shares arising from the rights issue will be offered to interested investors. The shortfall share issue is expected to be completed before November 2011.