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IONDRIVE LIMITED — Capital/Financing Update 2018
Oct 14, 2018
65132_rns_2018-10-14_ba1cd3ab-5453-4228-9e1c-690ef7e94bc1.pdf
Capital/Financing Update
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15 October 2018
The Manager Company Announcements Office ASX Limited
INFORMATION REQUIRED UNDER ASX LISTING RULE 3.10.5A
Southern Gold Ltd provides the following information required under ASX Listing Rule 3.10.5A.
- a) Dilution to existing holders:
The dilutive effect of the 7.1A placement of 4,267,387 fully paid ordinary shares on existing shareholders is 8.6%.
Further details of the approximate percentage of the issued capital post the placement held by preplacement shareholders and the new shareholders are as follows;
| Shareholder category | Holding pre | Holding post |
|---|---|---|
| placement | placement | |
| Pre-placement securityholders who did notparticipate in theplacement | 93.8% | 85.2% |
| Pre-placement securityholders who didparticipate in theplacement | 6.2% | 14.8% |
| Participants in theplacement who were notpreviouslysecurityholders | - | - |
| Total | 100% | 100% |
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b) The Company has resolved to utilise the capacity available to it under ASX Listing Rule 7.1A. The Company considers this to be the most effective and expedient method for raising funds to further exploration expenditure;
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c) No underwriting arrangement were in place for the placement; and
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d) $25,637 in fees were paid to the lead manager in connection with the placement.
Southern Gold Limited ABN 30 107 424 519
PO Box 255 Kent Town SA 5071
email [email protected] telephone 08 8368 8888 web southerngold.com.au facsimile 08 8431 5619
Level 1 8 Beulah Road Norwood SA 5067