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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ggg Resources | LSE:GGG | London | Ordinary Share | GB00B4KDJB03 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 25.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGGG GGG Resources plc (the "Company" or "GGG") ASX oversubscribed placing raises A$ 9 million Application lodged for Admission to ASX London 25 January 2011 West Australian gold exploration and development company GGG Resources plc ( ASX:GGB; AIM: GGG) is pleased to announce the successful completion of its fundraising under the prospectus lodged in Australia on 10 January 2011 (the "Prospectus"). Accordingly the Company has applied for its secondary listing on the Australian Securities Exchange ("ASX"). The offer under the Prospectus ("Offer") is now closed, the Company having raised A$9 million from institutional and private investors. The Offer was oversubscribed and will result in the issue of 22,500,000 ordinary shares in the Company at a price of A$ 0.40 per share (the "Placing Shares"). The Placing is conditional upon admission to the ASX. GGG Resources is already listed on the London Stock Exchange's AIM. An application has been lodged for a listing on the Australian Securities Exchange (ASX). The ASX ticker for the Company will be GGB. Shareholders will shortly be advised when admission to the ASX will take place. The funds raised will be used to further advance GGG's 50% interest in the exciting Bullabulling Project, a former gold mine in the Coolgardie Goldfield at which GGG plans to recommence mining operations in 2013, and towards additional exploration. The capital raising was managed by leading Western Australian corporate advisory firm Azure Capital Limited with the shares being placed by Morgan Stanley Smith Barney. Upon listing on the ASX the Company will have approximately A$23 million in cash and an 8.5% interest in its joint venture partner Auzex Resources Ltd. Auzex Resources Ltd also own 50% of the Bullabulling Project. The Placing Shares will rank pari passu in all respects with the Company's existing ordinary shares on issue, although trading on ASX will be in the form of a Chess Depository Interests ("CDIs"). Application will be made to London Stock Exchange plc for the Placing Shares to be admitted to trading on AIM ("Admission"), with Admission expected to occur in conjunction with the listing of the CDIs on the ASX. Following Admission, the total number of shares in issue will be 167,923,590. Peter Ruxton, Chairman of GGG Resources plc, commented: "We are delighted to have raised A$9 million in new funds for our rapidly-developing Bullabulling gold project. We wish to extend a warm welcome to our new shareholders and would like to thank our advisors Azure Capital for their efforts in relation to the highly successful fundraising." Enquiries,please contact: Dr. Jeffrey Malaihollo Westhouse Securities Limited (Nominated Adviser) Tel: 01992 531820 Martin Davison Email: www.gggresources.com Tel: 020 7601 6100 Gresham PR Ltd. Collins Stewart Europe Limited (UK Broker) Neil Boom John Prior / Adam Miller Tel: 07866 805 108 Tel: 020 7523 8350 Professional Public Relations Azure Capital Limited David Brooks Alec Pismiris Tel: + 61 8 9388 0944 Tel: + 61 8 6263 0888 Notes: For more information on the Prospectus and the Offer please see announcements dated 10 January 2011 and 13 December 2010. END
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