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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gippsland | LSE:GIP | London | Ordinary Share | AU000000GIP1 | ORD SHS NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.125 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:5424V
Gippsland Limited
26 April 2007
2007-04-26
Gippsland Limited ("Gippsland" or the "Company")
NEW SHARE PLACEMENT
Gippsland (ASX & AIM: "GIP") today announces the placing of 26,666,666 fully
paid ordinary shares to UK institutional investors at a price of 4.5 pence
(approximately 10.82 Australian cents) per share raising the sum of UK#1,200,000
(approximately A$2.89 million) before costs. The placing was undertaken by UK
broker HB-Corporate.
These shares will rank pari passu with all existing Gippsland fully paid
ordinary shares. Application has been made for the admission of the new shares
for trading on the London Stock Exchange AIM and the Australian Stock Exchange
with trading expected to commence on 1 May 2007. The total number of shares on
issue following admission will be 259,524,592.
The funds raised under this placing will be employed to accelerate exploration
of the Company's Wadi Allaqi tenements where several highly prospective gold,
copper and nickel projects are being pursued.
In addition to on-going working capital, the funds raised will also be used to
expand Gippsland's management team both in Australia and Egypt plus the
commencement of Abu Dabbab detailed engineering design as this project
progresses into a world scale tantalum producer.
RJ (Jack) Telford
Executive Chairman
For further information please contact:
Jack Telford
Gippsland Limited
www.gippslandltd.com
Tel: +61 (0)8 9340 6000
jtelford@gippslandltd.com
Les Polden / Luke Cairns
Hoodless Brennan Plc
Tel: +44 (0)20 7538 1166
L.Polden@HBcorporate.com
L.Cairns@HBcorporate.com
Laurence Read / Ed Portman
Conduit PR
Tel: +44 (0)20 7429 6605 / 6607
Laurence@conduitpr.com
Ed@conduitpr.com
Fiona Owen
Grant Thornton Corporate Finance
Tel: +44 (0)20 7383 5100
Fiona.Owen@gtuk.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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