Issue of Equity
28 Novembre 2007 - 8:01AM
UK Regulatory
RNS Number:6460I
GVM Metals Ltd
28 November 2007
announcement
28 NOVEMBER 2007
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GVM METALS LIMITED
ISSUE OF EQUITY
GVM Metals Limited ('GVM' or the 'Company') is pleased to announce that it has
today completed a placement of 15,000,000 shares ("Placement"). The shares were
issued at an issue price of $1.50 each, to raise $22,500,000, before costs.
The Placement was made under s708 of the Corporations Act to predominantly
sophisticated retail investor clients at Euroz Securities Limited.
The funds raised from the issues will be applied towards the cost of developing
the Company's Mooiplaats and Baobab coal projects, exploration and general
working capital.
The Placement follows approvals of a resolution at the Company's Annual General
Meeting in Perth today providing the required capacity for the Placement in
accordance with Listing Rule 7.1 and the announcement of the placement of 65
million shares at 65 pence primarily to European institutions to raise #42.25
million.
Simon Farrell, Managing Director, commented: "We are very pleased that following
the successful placement to London institutions, Euroz, Perth's leading
institutional broker, has lent its support to our goal of becoming a significant
coal producer in South Africa."
AUTHORISED BY:
Simon Farrell
Managing Director
For more information contact:
Simon Farrell, Managing Director GVM +61 417 985 383
+61 8 9322 6776
Romil Patel / Olly Cairns Blue Oar Securities Plc +44(0) 20 7448 4400
Jos Simson/Arabella Hobbs Conduit PR +44(0) 20 7429 6606
www.gvm.com.au
This information is provided by RNS
The company news service from the London Stock Exchange
END
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