New Zealand Exchange Limited
P.O. Box 2959
26 August 2011
Widespread Portfolios Net Asset Backing
We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.6 cents.
Effect of Proposed Restructure
As previously advised, the re-arrangement of assets held by Widespread Portfolios and associate company Chatham Rock Phosphate, combined with the independently supported revaluation of the Chatham Rise project, had a marked beneficial effect on the value of Chatham Rock Phosphate shares and options. This translated into a significant increase in the asset backing of Widespread Portfolios which appears to have been overlooked by the market.
Diluted Net Assets per share
The fully diluted NTA per WID share is $0.98 assuming the listed warrants are exercised @ $2.982 and the unlisted director-held warrants are exercised @ $3.282. All warrants expire on 30 June 2012.
For and on behalf of the Board,
Chris D Castle
Sonid Zuqui, Inner Mongolia, 26 August 2011