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IONDRIVE LIMITED — Capital/Financing Update 2009
Sep 14, 2009
65132_rns_2009-09-14_0104e592-238f-4303-88f0-d9c613155098.pdf
Capital/Financing Update
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15 September 2009
RECORD DATE FOR NON-RENOUNCEABLE ENTITLEMENT OFFER TO SOUTHERN URANIUM SHAREHOLDERS
On 29 June 2009, Southern Gold Limited (ASX code “ SAU ”) announced that it had reached an inprinciple agreement with Talbot Group Holdings (“ Talbot ”), CITIC Australia Pty Ltd (“ CITIC ”) and Southern Uranium Limited (ASX code “ SNU ”) in relation to a non-renounceable pro rata offer of its 39.1% shareholding in SNU to SNU’s shareholders at 5.5 cents per share (the Offer), which will be underwritten by Talbot and CITIC. The sale will realise $2.475 million gross proceeds to SAU.
Completion of the transaction is subject to a number of conditions precedent which were disclosed in the announced Heads of Agreement. One of these conditions was the receipt of approval to the sale by SAU shareholders. This approval was secured and announced to the ASX on 11 September 2009. SNU has scheduled a General Meeting for 21 September 2009 for its shareholders to vote to approve of the transaction.
SAU and SNU have agreed that the Record Date for determining entitlements to the Offer will be 21 September 2009 provided all other conditions precedent are met. Shareholders registered on SNU’s share register at 7.00pm on the Record Date will be entitled to participate in the Offer.
The Offer documentation including full terms and conditions and Entitlement and Acceptance Forms (Offer Document) is expected to be dispatched to SNU shareholders by Friday 25 September 2009.
| Activity | Date |
|---|---|
| Record Date for determining entitlements under the Offer |
Monday 21 September 2009 |
| Despatch of documents to shareholders | Friday 25 September 2009 |
| Offer Expected to Close | Wednesday 14 October 2009 |
| Expected Date for Despatch of holding statements: | Wednesday 21 October 2009 |
ALL DATES ARE SUBJECT TO CHANGE AND ACCORDINGLY ARE INDICATIVE ONLY. IN PARTICULAR, SNU AND SAU HAVE THE RIGHT TO VARY THE DATES OF THE OFFER, WITHOUT PRIOR NOTICE.
For further information contact:
Mr Greg Boulton Mr Nick Harding Chairman Company Secretary Southern Gold Limited Southern Gold Limited Phone : 08 8368 8888 Phone : 08 8368 8888
Southern Gold Limited 47 Tynte Street PO Box 1016 ABN 30 107 424 519 North Adelaide North Adelaide South Australia 5006 South Australia 5006
[email protected] telephone 08 8368 8888 web southerngold.com.au facsimile 08 8368 8899