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ORA BANDA MINING LTD — Capital/Financing Update 2017
Jul 3, 2017
65475_rns_2017-07-03_2a0dcd18-270f-4762-b121-ff62259db354.pdf
Capital/Financing Update
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4 July 2017
ASX ANNOUNCEMENT
CLOSE OF UNMARKETABLE PARCEL SALE FACILITY
Eastern Goldfields Limited (ASX: EGS) is pleased to advise that it closed the Unmarketable Parcel Sale Facility for holders of parcels of shares worth less than $500 ( Unmarketable Parcels ) in the Company ( UPS Facility ) on 30 June 2017.
The Company provided the UPS Facility to holders of Unmarketable Parcels to sell their shares without incurring any brokerage or handling costs that could otherwise make a sale of their shares uneconomic or impractical. By completing the UPS Facility, the Company has reduced the administrative costs associated with maintaining a large number of small holdings.
As at the market close on 30 June 2017, there were 1,272,431 ordinary shares held by 2,773 shareholders to be sold ( Sale Shares ).
The sale price for each Sale Share will be determined once all of the Sale Shares are sold under the UPS Facility and Computershare will organise remittance of sale proceeds for those shareholders who participated in the UPS Facility. Each participating shareholder will receive their proportionate share of the sale proceeds for all Sale Share sold through the UPS Facility without incurring any brokerage or handling costs.
Investor Enquiries
Michael Fotios Jon Snowball Executive Chairman FTI Consulting T: +61 8 6241 1866 T: +61 477 946 068 E : [email protected] E: [email protected]
Forward Looking Statements
ISSUED CAPITAL
Shares: 559.7m Options: 58.9m Current Share Price: $0.355 Market Capitalisation: $198.7m Cash as at 31/03/2017: $551,000*
*Excluding total debt facilities of $35.0m, see ASX announcement 31 Jan 2017. Drawn to date $15.0m
Eastern Goldfields Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Eastern Goldfields Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.