Distribution 2022

Prospect Reosurces Limited - Distribution 2022

As announced to the ASX on 20 April 2022, PSC completed the sale of its 87% interest in the Arcadia Project for net proceeds of US$342.9 million.

The Board has determined to distribute most of these proceeds by way of a A$0.96 per share distribution (“Distribution”). The Distribution comprises an unfranked dividend component of A$0.77 per share (“Special Dividend”) and, subject to shareholder approval, a capital reduction component of A$0.19 per share (“Capital Reduction”). The Extraordinary General Meeting (“EGM”) to consider approval of the Capital Reduction is being held on 18 July 2022. For further information on the EGM, see the EGM materials which were dispatched to shareholders and announced to the ASX on 17 June 2022.

The proposed timeline for the Distribution is as follows:

If the Capital Reduction is approved by Shareholders at the EGM*
Following the EGM Announcement of voting result
Tuesday, 19th July 2022The Capital Reduction becomes effective
Wednesday, 20th July 2022 Last day for trading on a ‘cum Capital Reduction’ basis* and ‘cum Special Dividend’ basis
Thursday, 21st July 2022Trading in Shares on an ‘ex Capital Reduction’ basis*, and ‘ex Special Dividend’ basis
Friday, 22nd July 2022Record Date for Capital Reduction* and Special Dividend
Friday, 29th July 2022Payment Date of Capital Reduction* and Special Dividend

* If the Capital Reduction is not approved by Shareholders at the EGM, only the Special Dividend will be paid in accordance with the timetable above. Note that the timetable is indicative and is subject to change to the extent permitted under law and the ASX Listing Rules.

Payment will be made by Electronic Funds Transfer (EFT) only. To ensure the prompt payment of the Distribution, the Company strongly recommends that shareholders ensure their bank and TFN/ABN details are up to date with the Company’s share registry, Automic.

Instructions to Shareholders

If you are an Australian resident or an overseas resident with an Australian bank account, instructions on how to update your details online are set out below.

If you are an Overseas resident that does not have an Australian bank account, you will need to update your details by completing the Overseas EFT Form and returning it to Automic as noted in the instructions in the form. The form can be located on Automic’s website here: https://automic.com.au/form/Overseas_EFT_Form.pdf.

If you have recently updated your details, you do not need to do anything.

Updating your details online for Australian Resident or Overseas Resident with Australian Bank Account:

if you haven’t already done so you need to register for an online account via the investor portal of the Company’s share registry, Automic Group, and then update your bank and TFN/ABN details online to receive your Distribution in a timely and efficient manner.

Please follow the instructions below to access your holding statement and sign up for access to Automic Group’s Investor Portal.

Sign up to access your account

  1. Enter the following address into your web browser: investor.automic.com.au/#/signup
  2. Select “Prospect Resources Limited” from the fund name drop down list.
  3. Enter your Holding Number (HIN or SRN). This can be found on correspondence such as a holding statement or proxy form from either Automic or your broker
  4. Enter your postcode OR if outside Australia, your country of residence.
  5. Tick the box “I’m not a robot”, then select “Next”.
  6. Set up your username and password details.
  7. Important – update your bank & TFN details

Once you have created your account by following the instructions above, you will need to update your bank account details and Tax File Number (TFN)/Australian Business Number (ABN) information by clicking “my details” under the “profile” section of your Investor Portal account.

If you have any problems setting up your account access, Automic is ready to help – please contact 1300 288 664 or on +61 (0)2 9698 5414 if calling from outside or Australia, or email at hello@automic.com.au.

Please note that you will need to ensure your details are updated online or forms are received by Automic Group no later than the Record Date of Friday 22 July 2022, to be included in the initial payment group.

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