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ENERGY METALS LTD — Capital/Financing Update 2007
Nov 11, 2007
64845_rns_2007-11-11_0b8fe965-f6f6-4a45-ae4c-012e732193fe.pdf
Capital/Financing Update
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12 November 2007
«Holder_Name» «Address_Line_1» «Address_Line_2» «Address_Line_3» «Address_Line_4» «Address_Line_5»
Energy Metals Limited ABN 63 111 306 533 Level 2 18 Kings Park Road West Perth WA 6005 PO Box 1033 West Perth WA 6872 Western Australia Telephone: (08) 9322 6904 Facsimile: (08) 9321 7950 Email: [email protected] Web: www.energymetals.net
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Via Electronic Lodgement
Dear Optionholder
NON-RENOUNCEABLE RIGHTS ISSUE
On 12 November 2007 Energy Metals announced to the market that a non-renounceable rights issue ("Rights Issue") of one (1) new fully paid ordinary share ("Share") for every twenty (20) Shares held at an issue price of $3.50 per new Share, would be offered to all shareholders recorded on the share register on 28 November 2007 ("Record Date"). A copy of this announcement is available on the ASX website www.asx.com.au or from the Company’s website www.energymetals.net
The Company will seek quotation of the Shares issued pursuant to the Rights Issue on the ASX. The Rights Issue is fully underwritten by Hartleys Limited.
Relevant information regarding the Rights Issue, will be provided to shareholders on 12 November 2007. A copy of this information will be lodged with the ASX and will be available from the ASX website and the Company’s website.
Key Dates:
A proposed timetable for the Rights Issue is set out below in more detail:
| Rights Issue announcement, Appendix 3B and first Section 708AANotice | 12 November 2007 |
|---|---|
| Letter to option holders detailing the Rights Issue | 12 November 2007 |
| Notice to security holders of Rights Issue terms | 12 November 2007 |
| Ex date | 22 November 2007 |
| Record date | 28 November 2007 |
| Lodge second Section 708AA Notice and dispatch Entitlement andAcceptance Forms | 29 November 2007 |
| Acceptances close at 5.00pm WDT (closing date) | 13 December 2007 |
| Allotment of Shares, despatch of holding statements and lodgeSection 708A Cleansing Notice | 21 December 2007 |
This timetable is indicative only and may be subject to change, subject to the ASX Listing Rules.
The Rights Issue will seek to raise approximately $4.9 million (before Rights Issue costs) to fund further exploration and development of the Company’s Bigrlyi Uranium Project, the Company’s 100% owned projects in both the Northern Territory and Western Australia and to provide additional working capital.
Under the terms of the options that you currently hold there is no entitlement to participate in the Rights Issue. To be eligible to participate, you will need to exercise your existing options and ensure you are registered as a shareholder on or before 28 November 2007 .
It should be noted that the exercise of your options is not compulsory. However if you wish to participate in the Rights Issue, it will be necessary for you to exercise all or part of your options. To facilitate the exercise of your options, please find at the back of this letter an Application for Exercise of Options Form. If you wish to participate in the Rights Issue please complete the Application and lodge with the Company, together with your payment for the number of Shares you wish to take up. If payment for the exercise of options is not received on or before 22 November 2007, you will be unable to participate in the Rights Issue.
Before deciding whether to exercise any or all of your options, you should consider the terms of the Rights Issue carefully and, if in any doubt, consult with your professional advisor.
Should you have any further queries, please do not hesitate to contact the Company on (08) 9322 6904.
Yours sincerely
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LINDSAY DUDFIELD Executive Director.