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MINBOS RESOURCES LIMITED — Capital/Financing Update 2011
Nov 28, 2011
65355_rns_2011-11-28_5913b64d-59ed-479c-bdc9-8efa24dc4f06.pdf
Capital/Financing Update
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Perth Office South African Office 108 Outram Street 42 Kyalami Boulevard West Perth, WA, 6005 Kyalami Business Park, Kyalami, Johannesburg PO Box 1974 West Perth WA 6872 T: +61 (08) 6140 2449 F: +61 (08) 6314 1587 T: +27 11 466-8516/7 F: +27 11 466-8523 E: [email protected] W: www.minbos.com
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29 November 2011
ASX ANNOUNCEMENT
RIGHTS ISSUE CLOSES WITH SOLID SUPPORT FROM SHAREHOLDERS
The Manager Announcements Company Announcements Office Australian Stock Exchange Limited PO Box H224 Australia Square SYDNEY NSW 2000
Dear Sir/Madam
Minbos Resources Limited is pleased to advise that the rights issue announced on Monday, 31 October, 2011 closed on 24 November 2011 with solid support from shareholders, despite the global equity markets experiencing volatile conditions.
The directors advise that existing shareholders applied for 3,100,300 shares or 40% of all shares on offer.
Of the remaining 4,688,450 shares or 60% of all shares on offer, Chairman, Peter Richards has agreed to underwrite 714,286 and the remaining 3,974,164 will be placed at the discretion of the Board of Directors.
The Rights Issue will raise approximately $2.18M before costs. The net proceeds will be applied as described in the rights issue prospectus.
The holding statements for the new securities will be dispatched following reconciliation of funds.
Yours faithfully, MINBOS RESOURCES LIMITED
Tanya Woolley Company Secretary
Minbos Resources Limited 1
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About Minbos
Minbos Resources Limited is an exploration company focused on the development of phosphate and potash bearing ore within the Cabinda Province of Angola and the adjoining areas of the far western DRC. Through its subsidiaries and joint ventures, the Company is exploring over 400,000ha of highly prospective ground hosting phosphate and potash bearing ore. Minbos is growing its current Resource base in incremental stages as it drills out the known deposits during 2011.
The Company’s strategy is to specifically target the exploration and development of low cost fertiliser-based commodities in order to tap into the growing global demand for fertilisers. Phosphate and potash are an essential component in certain agricultural fertilisers, with the market supported by the increasing global demand for food and bio-fuel products. For more information, visit www.minbos.com
For more information:
Peter Richards Minbos Resources Executive Chairman [email protected] (+61) 08 6140 2449
Robbie McCrae Minbos Resources Chief Executive Officer [email protected] (+27) 82 319 2690
Location of Phosphate and Potash Licences
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Minbos Resources Limited 2