Allotment of Placement Shares
22 Octubre 2008 - 4:24AM
UK Regulatory
Allotment of Placement Shares
ASX and AIM Release
22 October 2008
Allotment of Placement Shares
Finders Resources Ltd ("Finders", AIM & ASX ticker FND) is pleased to
announce that it has now received all placement monies in respect of
its share placement previously announced on 3 September 2008 and
approved by Finders shareholders on 16 October 2008.
Gross funds raised under the placement totaled approximately $5.3
million from the issue of 8,650,020 new shares. These funds will
primarily be applied to complete the demonstration plant at the Wetar
Copper Project and for general working capital.
The placement consisted of 6,925,020 shares issued at A$0.60 per
share through RFC Corporate Finance Ltd and 1,725,000 shares issued
to parties in the UK at �0.28 per share through Finncap, Finders AIM
broker.
Finders would like to welcome the specialist resource investor,
Resource Capital Funds ("RCF"), who subscribed for US$2 million of
shares under the placement, as a new substantial shareholder, with an
interest of around 6% in Finders expanded issued share capital.
Allotment of the new shares is expected to be completed tomorrow and
application made to the Australian Securities Exchange ("ASX") and
AIM for these shares to be quoted.
The capital structure of Finders following the issue of the share
purchase plan shares is as follows:
+-------------------------------------------------------------------+
| Type of Security | Exercise | Expiry | Number in |
| | Price | Date | Issue |
|--------------------------------+----------+----------+------------|
| Fully Paid Ordinary Shares | | | |
| ("Shares") | | | |
|--------------------------------+----------+----------+------------|
| Previous Shares on issue | | | 75,193,482 |
|--------------------------------+----------+----------+------------|
| New Shares issued at A$0.60 / | | | |
| �0.28 cash each under share | | | 8,650,020 |
| placement to raise A$5,346,428 | | | |
|--------------------------------+----------+----------+------------|
| Total Shares now on issue | | | 83,843,502 |
|--------------------------------+----------+----------+------------|
| | | | |
|--------------------------------+----------+----------+------------|
| Unlisted Options | | | |
|--------------------------------+----------+----------+------------|
| | A$0.50 | 20 March | 3,090,367 |
| | | 2009 | |
|--------------------------------+----------+----------+------------|
| | 24p | 22 March | 1,322,881 |
| | | 2009 | |
|--------------------------------+----------+----------+------------|
| | A$0.6875 | 13 June | 500,000 |
| | | 2010 | |
|--------------------------------+----------+----------+------------|
| Total Unlisted Options on | | | 4,913,248 |
| issue | | | |
|--------------------------------+----------+----------+------------|
| | | | |
+-------------------------------------------------------------------+
As detailed in previous announcements, Russell Fountain, Chris Farmer
and Stephen de Belle, all Finders directors, also participated in the
placement. Details of the changes in their holdings along with the
new holding of RCF are as follows:
+-------------------------------------------------------------------+
| | Number of shares | | | |
| Shareholder | acquired in | Total | % of | Options |
| | Placement | shares now | issued | held[1] |
| | | held | shares | |
|--------------+--------------------+------------+--------+---------|
| | | | | |
|--------------+--------------------+------------+--------+---------|
| Resource | | 4,990,020 | | |
| Capital Fund | 4,990,020 | | 6.0% | - |
| IV LP | | | | |
|--------------+--------------------+------------+--------+---------|
| Russell | 416,667 | 6,281,202 | 7.5% | 133,333 |
| Fountain | | | | |
|--------------+--------------------+------------+--------+---------|
| Chris Farmer | 166,667 | 5,556,202 | 6.6% | - |
|--------------+--------------------+------------+--------+---------|
| Stephen de | 416,666 | 2,254,664 | 2.7% | 134,000 |
| Belle | | | | |
|--------------+--------------------+------------+--------+---------|
| | | | | |
+-------------------------------------------------------------------+
[1] Each option is to acquire one ordinary fully paid share for an
exercise price of 50 Australian cents expiring 20 March 2009.
For further information please contact:
Finders Resources Ltd:
Russell Fountain, Executive Chairman: +61 (0) 2 9211 8299
Chris Farmer, Managing Director: cbf@findersresources.com
RFC Corporate Finance Ltd - AIM Nominated Adviser:
Stuart Laing: + 61 (0) 8 9480 2500
FinnCap - Finders' Broker for the AIM market:
Matthew Robinson, +44 (0) 20 7600 1658
Joe Lunn (Analyst), +44 (0) 20 7600 1658
---END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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