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GENESIS RESOURCES LIMITED — Capital/Financing Update 2012
Sep 26, 2012
64980_rns_2012-09-26_4bfa462f-9324-40e1-b356-cba24e611289.pdf
Capital/Financing Update
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GENESIS RESOURCES LIMITED
(ASX: GES)
ASX Release
27 September 2012
Rights Issue Closure and Notice of Shortfall
Genesis Resources Limited (the Company ) advises that its recent pro-rata non-renounceable rights issue of 1 new share for every 3 existing shares at an issue price of 9 cents per share to raise approximately $2.5 million (less the costs of the Offer) ( Rights Issue ) closed on 24 September 2012 with the results below. These results are subject to any cheque dishonours.
| No ofApplications | |||
|---|---|---|---|
| Shortfall Calculation | Total Units | Money Totals | |
| Total Retail Entitlements on Offer | 28,280,672 | $2,545,260.48 | 345 |
| Less Total Acceptances | 5,001,754 | $450,157.86 | 22 |
| Total Shortfall | 23,278,918 | $2,095,102.62 |
The Rights Issue is fully underwritten by Tigermoth Investments Limited (the Underwriter ) and in accordance with terms of the underwriting agreement, the underwritten shortfall of 23,278,918 shares to the value of $2,095,102.62 will be taken up by the Underwriter and/or its nominees.
The Company confirms that a shortfall notice will be issued to the Underwriter in accordance with the underwriting agreement.
When completed, the total funds raised under the Rights Issue will be $2,545,260.48 before offer costs. The new shares are expected to be issued and allotted on 2 October 2012 and holding statements are expected to be despatched on 4 October 2012.
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For further information, please contact: Sophie Karzis Company Secretary T. 03 9665 0460 F. 03 9650 5571 M. 0409 540 827 E. [email protected]
GENESIS RESOURCES LIMITED ACN 114 787 469 Level 3, 1 Collins Street, Melbourne, Victoria 3000, Australia Tel: +61 3 9665 0411 | Fax: +61 3 9650 5571 | www.genesisresourcesltd.com.au