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IODM LIMITED — Capital/Financing Update 2014
Dec 15, 2014
65131_rns_2014-12-15_abd24d71-5bc8-4e5f-bebe-1b27439f0990.pdf
Capital/Financing Update
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ABN 28 102 747 133
ASX Release
16 December 2014
Level 1/330 Churchill Avenue Subiaco, WA 6008
Ph: +61 8 9200-4482 Fax: +61 8 9200-4469
Contact : Anthony Reilly Managing Director
Email : [email protected]
Website : www.paradigmmetals.com.au
Disclosure ASX Listin Rule 7.1A.3 g
Paradigm Metals Limited (ASX: PDM ) provides the following information in relation to the Appendix 3B lodged with the ASX on 4 November 2014.
Valuation of the securities is based on a Directors’ valuation, primarily on the basis that the issue price of $0.002 being equal to the closing price of PDM ordinary shares on the date the agreement was signed giving rise to fair market valuation.
When determining fair valuation, the directors referred to Accounting Standard AASB 13 “Fair Value Measurement” and the convention of a transaction being between non related 3rd party counterparties and at ‘Arms-Length.’ AASB13 notes that for financial assets that are actively traded in organised financial markets, fair value is determined by reference to Stock Exchange quoted market bid prices at the close of business on the reporting date.
Therefore the directors are of the view that the $0.002 issue price represents market and fair value for PDM shares issued to the counterparties to the agreement as announced to the ASX on 4 November 2014.
Yours sincerely,
Anthony Reilly Chief Executive Officer 16 December 2014
Email: [email protected] Website: www.paradigmmetals.com.au
Directors: Anthony Reilly Nicholas Lindsay Brian McMaster
ASX Symbol: PDM
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