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METALS AUSTRALIA LTD — Capital/Financing Update 2003
May 19, 2003
65344_rns_2003-05-19_1698973a-7dba-4a08-a56c-94be14e532ff.pdf
Capital/Financing Update
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Australian United Gold Ltd
ACN: 008 982 474
Postal Address:
PO Box 1618 West Perth 6872 Western Australia
Telephone: (08) 9481-7833 Facsimile: (08) 9481 7835
Office Location:
1st Floor, 8 Parliament Place West Perth. 6005 Western Australia
May 20 2003
Australian Stock Exchange 20 Bond Street Sydney New South Wales
Australian United Gold Ltd Options - Expiring June 30 2003
Australian United Gold Ltd currently has on issue 109,000,000 listed options, each able to convert to one fully paid share in Australian United Gold Ltd, at an exercise price of \$ 0.05 ( five cents ) per share, expiring in June 30th 2003.
The consequence of non-payment of the exercise price of five cents is that the option holder forgoes the right to convert an option into a share, in Australian United Gold Ltd. However should the option holder desire to acquire a share, the market price for a share has been trading much lower than five cents
The last day of quotation of the options will be June 23 2003, which allows five business days before the June 30th 2003 expiry date.
The latest available market price for ordinary shares in Australian United Gold Ltd on May 19th 2003 was $$0.007$
In the previous three months, from February 19th 2003, the highest price for ordinary shares has been \$0.008, and the lowest price has been \$0.006
In view of the above, the Company has sought, and received, a waiver from the ASX so that the Company is not obligated to incur expense in advising option holders of the impending expiry date.
Yours faithfully
Bruce McCullagh Company Secretary