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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Norseman | LSE:NGL | London | Ordinary Share | GB00B2N7FW85 | ORD 1.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.575 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNGL
RNS Number : 9170H
Norseman Gold PLC
18 July 2012
Norseman Gold
Trading Halt on ASX
Proposed Placing
Norseman Gold Plc ("Norseman" or "Company") has today requested the halt of trading of its shares on ASX until an announcement is made to the market with respect to the completion of a capital raising. The Company is undertaking a private placing of approximately A$20 million, including the conversion of A$8m of existing debt into equity, through the issue of approximately 500 million fully-paid ordinary shares to institutional investors ("the Placing"). The Placing is being managed by Moelis Australia Advisory Pty Ltd and Ocean Equities Limited acting as Joint Bookrunners and Joint Lead Managers.
The Company's major shareholder, Tulla Group, has agreed to underwrite the total issue for cash of A$12m and conversion of existing debt of A$8m.
The funds raised from the Placing will be used to fund the company's working capital requirements including the reduction of existing creditors.
The Placing, to be processed in two tranches, is expected to be completed on Thursday 19 July 2012. The first tranche of approximately A$3m, involving approximately 74 million new shares, is not conditional upon shareholder approval, with new shares expected to commence trading on 26 July 2012. The second tranche of approximately A$17 million, involving approximately 426 million new shares, will require receipt of shareholder approval at a general meeting to be held on or around 23 August 2012.
A corporate presentation in relation to the Placing is available at:
http://www.asx.com.au/asxpdf/20120718/pdf/427gdj040gnqjc.pdf
For further information visit www.norsemangoldplc.com, email investors@ngold.com.au or contact:
David Steinepreis, Norseman Gold Plc. Tel: +44 (0) 7913402727
William Vandyk / Rod Venables, Northland Capital Partners Ltd Tel: 020 7796 8800
Guy Wilkes, Ocean Equities Ltd Tel: 020 7786 4370
Susie Geliher / Hugo de Salis, St Brides Media & Finance Ltd Tel: 020 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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