Dec 1 (Reuters) - Ovato Ltd OVT.AX :
* ENTITLEMENT OFFER TO RAISE APPROX. $40M-OVT.AX
* ANNOUNCES ENTITLEMENT OFFER TO RAISE ABOUT $40 MILLION WITH UP TO $35 MILLION CONDITIONALLY UNDERWRITTEN
* OFFER VIA ISSUE OF 10.93 NEW SHARES IN OVATO FOR EVERY 1 SHARE HELD AT $0.005 PER NEW SHARE