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BARYS RESOURCES LIMITED — Capital/Financing Update 2011
Nov 16, 2011
64567_rns_2011-11-16_eab56615-96b6-4d93-82cb-0475e695a087.pdf
Capital/Financing Update
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COMPLETION OF PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE
ANNOUNCEMENT
17 NOVEMBER 2011
Further to its announcement on 10 November 2011, Mining Group Limited (ASX:MNE) (“Mining Group” or “the Company”) confirms that it has today completed its pro-rata nonrenounceable rights issue of approximately 6,512,500 new options exercisable at $0.20 each on or before 1 July 2014 (“New Options”) on the basis of one New Option for every four Mining Group shares held by shareholders at the Record Date at an issue price of $0.01 per New Option (“Rights Issue”).
The Company has today allotted the remaining shortfall of 1,537,927 New Options. Further, as detailed in the Prospectus dated 4 October 2010 and as approved by shareholders at the Annual General Meeting of shareholders on 11 November 2011, the Company has today allotted and issued a further 3,462,073 New Options to Cygnet Capital Pty Ltd and/or its nominees, in consideration for underwriting services provided in relation to the Rights Issue.
The issued capital of the Company following the allotment is as follows:
| Fully paid ordinary shares | 26,050,001 |
|---|---|
| Listed Options exercisable at $0.20 each on or before 1 July 2014 | 9,974,573 |
| Unlisted Options exercisable at $0.20 each on or before 1 July 20141 | 1,500,000 |
1 These options are escrowed until 1 July 2013 beyond which time they will be tradable in the same class as the New Options.
AUTHORISED BY:
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Shannon Coates Company Secretary
173 MOUNTS BAY ROAD PERTH WESTERN AUSTRALIA 6000 TELEPHONE 08 9322 6424 FACSIMILE 08 9322 6778 www.mininggroup.net.au
Contact:
Andrew Maurice Managing Director [email protected]
P: + 61 8 9322 6424 M: 0410 642 660
Level 1, 173 Mounts Bay Road PERTH WA 6000
About Mining Group Limited
Mining Group Limited (ASX: MNE) (“Mining Group” or “the Company”) is an ASX listed, Australian based exploration company established to explore, evaluate and acquire commercially significant resource projects in Australia and overseas.
Mining Group seeks to increase shareholder wealth by prudent exploration of its prospective Western Australian based Boorara, Teutonic and Lake Christopher Projects and by identification and evaluation of potential new mineral projects and opportunities in Australia and overseas suitable for acquisition and development by the Company. Mining Group has a strong Board and management team who collectively have considerable technical, commercial and corporate experience in the resources sector.
For more information visit the Mining Group website at www.mininggroup.net.au