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ARDEA RESOURCES LIMITED — Capital/Financing Update 2019
Nov 18, 2019
64421_rns_2019-11-18_629016e5-129c-4807-9363-e46fe5ad2c40.pdf
Capital/Financing Update
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Godolphin Resources IPO to close early
ASX & Media Release
The boards of Ardea Resources Limited (Ardea) and Godolphin Resources Limited (Godolphin) are pleased to announce that commitments in excess of the Minimum Subscription[1] for the initial public offer (Godolphin IPO) of $4.5 million have been received. Godolphin has elected to close the Ardea Priority Offer and General Offer on Monday 25[th] November.
19 November 2019
ASX Symbol
ARL
There has been excellent support for the Godolphin IPO, particularly from Ardea shareholders under the Ardea Priority Offer.
Ardea Resources Limited
Suite 2 / 45 Ord St West Perth WA 6005
All potential investors are encouraged to finalise their subscriptions as soon as possible in order to secure their desired allocation.
PO Box 1433 West Perth WA 6872
Applications can be lodged online through the below links. Additionally, if you require assistance with your application, please contact the Godolphin Share Registry, Automic Pty Ltd on their hotline 1300 288 664. The Prospectus and the Application Forms can be accessed on-line through the following web addresses:
Telephone
+61 8 6244 5136
Ardea Priority Shareholders:
https://investor.automic.com.au/#/ipo/godolphinpriority
General Public:
Website
https://investor.automic.com.au/#/ipo/godolphin
Updated Timetable
Directors
| Updated Timetable | |
|---|---|
| EVENT | DATE |
| Lodgement of Prospectus with ASIC | 29 October 2019 |
| Ardea Offer Closing Date | 25 November 2019 |
| General Offer Closing Date | 25 November 2019 |
| Record date for In-specie Distribution | 3 December 2019 |
| Completion of In-specie Distribution | 10 December 2019 |
| Issue of Shares under the Offers | 11 December 2019 |
| Despatch of holding statements | 13 December 2019 |
| Expected date for Shares to commence trading on ASX | 18 December 2019 |
Katina Law Executive Chair
Ian Buchhorn Technical Executive Director
Wayne Bramwell Non-Executive Director
Issued Capital
Fully Paid Ordinary Shares 117,300,435
Directors/Employee Performance Rights 5,161,000
Note: The dates shown above are indicative only and may vary subject to the Corporations Act, the Listing Rules and other applicable laws. In particular, Godolphin reserves the right to vary the Opening Date and the Closing Dates without prior notice, which may have a consequential effect on the other dates. Applicants are therefore encouraged to lodge their Application Form as soon as possible if they wish to invest in Godolphin. Godolphin also reserves the right not to proceed with any of the Offers at any time before the issue of Shares to applicants.
ABN 30 614 289 342
1 Defined terms have the meanings as defined in the Godolphin Prospectus, dated 29 October 2019, unless otherwise indicated.
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Ardea CEO Andrew Penkethman commented:
The Godolphin IPO has been exceptionally well supported, likely reflecting recent exploration successes in the Lachlan Fold Belt. In particular, Godolphin’s Copper Hill East gold-copper project in the Molong Volcanic Belt has come to the fore, reflecting the recent Boda porphyry discovery, 50km north along structure, and CadiaRidgeway gold mining operation 50km to the south (refer Figure 1).
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Figure 1 – Tenure map for Ardea’s forthcoming spin-out, Godolphin Resources Limited. Godolphin will have a largely contiguous tenement holding from Mt Aubrey to Lewis Ponds in and around the Lachlan Transverse Zone, which is the axis around which the major deposits of the Lachlan Fold Belt cluster. Note the location of the recent Boda gold-copper porphyry discovery.
For further information regarding Ardea, please visit www.ardearesources.com.au or contact:
Ardea Resources:
Andrew Penkethman CEO, Ardea Resources Limited Tel +61 8 6244 5136
For more information regarding Godolphin, please contact:
David Greenwood CEO, Godolphin Resources +61 8 6244 5136 E: [email protected]
Andrew Bald Managing Director, Panthea Capital M: +61 409 758 229 E: [email protected]
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