Finders shareholders support capital raising
2010年10月6日 - 5:01PM
RNSを含む英国規制内ニュース (英語)
TIDMFND
6(th) October 2010
FINDERS RESOURCES LIMITED
Finders shareholders support capital raising
Finders Resources ('Finders') is pleased to announce it has received
overwhelming shareholder support for its capital raising. Shareholders voted in
favour of the capital raising, by a show of hands at a shareholder meeting held
today in Sydney.
Proxies received were as follows:
=------------------------------------+-+----------+-------+----------+---------
| | For |Against| Abstain | Open
=------------------------------------+-+----------+-------+----------+---------
| | | | |
=------------------------------------+-+----------+-------+----------+---------
Resolution 1: Ratify issue of | | | | |
28,076,000 Shares to Placement | |35,890,411| Nil|24,297,548|3,719,637
Investors | | | | |
=------------------------------------+-+----------+-------+----------+---------
| | | | |
=------------------------------------+-+----------+-------+----------+---------
Resolution 2: Approve the placement| | | | |
of up to 47,000,000 Shares to | |35,785,441|104,970|24,297,548|3,719,637
Placement Investors | | | | |
=------------------------------------+-+----------+-------+----------+---------
The total capital raising amounted to $20.95 million via a placement to
institutional and sophisticated investors. Under the offer, new ordinary shares
will be issued at A$0.28 per share, a discount of approximately 10% to the
trading price of Finders shares prior to announcement of the raising.
The capital raising was conducted via a placement made in two tranches. The
first tranche was a placement of 28.07 million shares to raise $7.86 million
which settled on 3(rd) September 2010; the second tranche involves the placement
of 46.75 million shares to raise $13.09 million.
Funds raised will be applied to the near term development of the Wetar Copper
project, capital equipment purchases, payment of environmental bonds, relocating
the Whim Creek plant from Australia and completion of a revised capital estimate
for the planned expansion to 23,000 tpa copper cathode.
Russell Fountain, Finders Chairman, said:
"The Board of Finders is delighted at the support shareholders have shown the
company and the capital raising initiative. The funds will be extremely
important to the company.
"The price of Finders shares has traded well above the capital raising price
since it was announced, most recently at around A$0.37 per share. I believe this
shows that the market is beginning to appreciate the future of the company and
its long term prospects.
"Finders is one of very few emerging copper plays for Australian investors. The
robust economics underpinning our Wetar project, combined with the experience of
our management and the support of the local Indonesian community, auger well for
a healthy and profitable future for the Company," he said.
Following completion of the capital raising Finders will be joined by several
new institutional investors, along with the existing substantial shareholders
Resource Capital Funds, Taurus Funds Management, Acorn Capital and Straits
Resources.
The placement was managed by Blackswan Equities.
-- ends --
For further information please contact
Finders Resources Ltd:
Russell Fountain Non-Executive Chairman +61 2 9211 8299
Chris Farmer Managing Director info@findersresources.com
Financial PR / Investor Relations:
Stuart Carson FD Third Person (in Sydney) +61 2 8298 6100
Nick Elwes College Hill (in the UK) +44 20 7457 2020
RFC Corporate Finance Ltd - Nomad:
Rob Adamson Managing Director +61 2 9250 0000
Stuart Laing Executive Director +61 8 9480 2500
finnCap - Finders' Broker for the AIM market:
Matthew Robinson Corporate Finance Director +44 20 7600 1658
Joe Lunn Analyst +44 20 7600 1658
[HUG#1449423]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Finders Resources Limited via Thomson Reuters ONE
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