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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Van Dieman | LSE:VDM | London | Ordinary Share | GB00B03HFG82 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 8817F Van Dieman Mines plc 15 October 2008 15 October 2008 VAN DIEMAN MINES PLC (the "Company") Extension to Bridging Loan Van Dieman Mines Plc, (AIM:VDM), the AIM listed mining company with an alluvial tin and sapphire mine in Tasmania announces that it has secured an extension to its short term bridging loan from Galena Special Situations Master Fund Limited ("Galena"), as announced on 26 August 2008 (the "Bridging Loan"). This follows a site visit by the full VDM board, including the recently appointed Galena nominees, Bill Wise and Harry Stacpoole. The extension is for an additional A$250,000 and has been granted on the same terms as the initial Bridging Loan. As previously announced, it is anticipated that the Bridging Loan and the further A$250,000 will be repaid out of the proceeds of a private placement that the Company has announced it intends to undertake before 31 December 2008. Related Party Transaction Galena is currently directly or indirectly interested in 18,455,000 Ordinary Shares in the Company representing an interest of 11.97 per cent in the total voting rights of the Company. Galena is therefore a substantial shareholder of the Company and considered to be a related party as defined under the AIM Rules for Companies (the "AIM Rules"). The grant of the extension to the bridging loan is classified as a related party transaction for the purposes of the AIM Rules. Accordingly, the Directors consider, having consulted with Grant Thornton UK LLP, in their capacity as the Company's nominated adviser, that the extension of the Bridging Loan is fair and reasonable insofar as the shareholders of the Company are concerned. Enquiries VAN DIEMAN MINES PLC Mike Etheridge, Chairman Tel: +61 (0) 4 0870 8778 Ron Goodman, CEO and Managing Tel: +61 (0) 4 0808 3914 Director GRANT THORNTON UK LLP Gerry Beaney / Fiona Owen Tel: +44 (0) 20 7383 5100 FOX DAVIES CAPITAL LIMITED Richard Hail, Corporate Finance Tel: +44 (0) 20 7936 5230 This information is provided by RNS The company news service from the London Stock Exchange END MSCGCBDGIGBGGIU
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