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IMDEX LIMITED — Capital/Financing Update 2013
Sep 12, 2013
65119_rns_2013-09-12_57274947-b6f1-4ffd-a6bb-e3d316ecebd7.pdf
Capital/Financing Update
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8 Pitino Court, Osborne Park Western Australia 6017
PO Box 1262, Osborne Park Western Australia 6916
Tel: +61 (0) 8 9445 4020 Fax: +61 (0) 8 9445 4042 [email protected] www.imdexlimited.com ABN 78 008 947 813
13 September 2013
Company Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2001
Dear Sir/Madam
Partial sale of Imdex Limited shareholding in Sino Gas & Energy Holdings Limited
The Board of Imdex Limited (ASX:IMD) ( Imdex ) advises it has sold 130 million shares in Sino Gas & Energy Holdings Limited (ASX:SEH) ( Sino ) via a bookbuild to institutional and sophisticated investors at a price of $0.185 per share to realise gross cash proceeds of $24.05 million.
Imdex is a founding shareholder in Sino and recognises Sino is developing a world scale gas project in China. Imdex strongly supports the strategy of Sino’s Board and management and has no current intention to sell the remainder of its shareholding (being 121,908,446 shares, representing an approximate 9.7% interest in Sino).
The sale proceeds will put Imdex in a strong cash position and provide greater financial flexibility in pursuing a number of growth initiatives, particularly in the Oil & Gas sector and technology development.
Imdex wishes to express its appreciation of the work being undertaken by the Board and management of Sino and looks forward to the next phase in Sino’s development.
Yours faithfully Imdex Limited
Ross Kelly Chairman
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Providing innovative drilling fluids and advanced down hole instrumentation worldwide.