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ACROW LIMITED — Capital/Financing Update 2012
Nov 1, 2012
64288_rns_2012-11-01_7a577f47-0e4d-4dbc-9fd9-035cfd82430c.pdf
Capital/Financing Update
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1 November 2012
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Noble advises shareholders to vote in favour of the Zhongrun transaction
Noble Mineral Resources Limited (ASX: NMG) ("Noble" or the "Company") today reconfirmed its support for Zhongrun’s proposed investment of A$84.7M in the Company via a two-tranche placement.
After careful consideration of the competing proposals available to the Company, Noble’s Board remains firmly of the view that the Zhongrun transaction is in the best interests of all Noble shareholders, and continues to be the superior available option for addressing Noble’s financing requirements.
Noble’s Managing Director, Wayne Norris said: “The Zhongrun transaction continues to offer Noble shareholders superior value and greater certainty than the Resolute proposal. Importantly, the Zhongrun transaction also treats all of our shareholders equally. In addition, it will see Noble with a much stronger balance sheet and financial flexibility to maximise the value of Bibiani and pursue other value enhancing opportunities.”
“Any suggestion by Resolute that Noble has failed to engage is incorrect. Noble has explained its concerns to Resolute in relation to its proposal; however Resolute has not addressed these concerns.”
“Noble cannot afford any further delays in the receipt of funding that is urgently required to maintain ongoing operations and meet current liabilities.”
“Noble urges all its shareholders to vote in favour of the Zhongrun transaction before or at the meeting.”
For the reasons set out above, Noble recommends that all shareholders vote in favour of Tranche 1 of the Zhongrun transaction at the Noble general meeting which will now be held on 7 November 2012, by lodging their proxies by 10am on Monday, 5 November if they have not already done so, and/or attending and voting at the meeting.
ENDS
Suite 3c, South Shore Centre 85 South Perth Esplanade South Perth, WA 6151
Telephone +61 (0)8 9474 6771 Facsimile +61 (0)8 9474 6772
Email [email protected] Web www.nobleminres.com.au
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For further information please contact:
Noble: Wayne Norris Managing Director Tel: +61 (0) 8 9474 6771 Email: [email protected]
Media:
Annette Ellis/ Warrick Hazeldine Cannings Purple Communications Tel: +61 (0) 8 6314 6300 Email: [email protected] / [email protected]
Suite 3c, South Shore Centre 85 South Perth Esplanade South Perth, WA 6151
Telephone +61 (0)8 9474 6771 Facsimile +61 (0)8 9474 6772
Email [email protected] Web www.nobleminres.com.au
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