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PEEL MINING LIMITED — Capital/Financing Update 2011
Sep 29, 2011
65545_rns_2011-09-29_9132ac2e-9f14-480b-9388-e0a85b7cd1c1.pdf
Capital/Financing Update
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30 September 2011
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NOTICE OF ENTITLEMENTS ISSUE
Entitlements Issue
Peel Mining Limited (ASX: PEX) is pleased to advise that it intends to undertake a pro rata nonrenounceable entitlement issue of one (1) Share for every four (4) Shares held by Shareholders at an issue price of 12 cents per Share.
The Entitlements Issue will raise approximately $2,632,720 before costs. The proceeds of the Entitlements Issue are intended to be used to fund ongoing investigation at Peel’s key exploration prospects: 4-Mile; Ruby Silver and Apollo Hill; and for general working capital purposes.
The new shares will be fully paid ordinary shares and will rank equally with the Company’s existing shares on issue.
Further information in relation to the Entitlements Issue will be set out in an Offer Document which the Company intends to release in the coming days to ASX.
| Event | Date |
|---|---|
| Announcement of Offer and Appendix 3B lodged on ASX | 30 September 2011 |
| Release of Offer Document and Cleansing Notice to ASX | 6 October 2011 |
| Notice sent to Security Holders | 10 October 2011 |
| Ex Date(date from which securities commence trading without theEntitlement toparticipate in the Rights Issue) | 11 October 2011 |
| Record Date5pm (WST)(date for determining Entitlements of eligible Shareholders toparticipate in the Rights Issue) | 17 October 2011 |
| Offer Document Dispatched to Shareholders(expected date of dispatch of Offer Document, Entitlement andAcceptance Forms) | 21 October 2011 |
| Offer Opening Date | 21 October 2011 |
| Offer Closing Date 5pm (WST)* | 11 November 2011 |
| Securitiesquoted on a deferred settlement basis | 14 November 2011 |
| ASX notified of under subscriptions** | 15 November 2011 |
| Dispatch holding statements** | 16 November 2011 |
| Trading of New Shares expected to commence** | 17 November 2011 |
- Subject to the Listing Rules, the Directors reserve the right to extend the Closing Date for the Offer at their discretion. Should this occur, the extension will have a consequential effect on the anticipated date of issue for the New Shares.
** These dates are indicative only.
For more information:
Any questions concerning this announcement should be directed to Mr Rob Tyson on +61 8 6141 6666.
Peel Mining Limited ACN 119 343 734
Unit 1, 34 Kings Park Rd, West Perth, WA 6005. Ph: (08) 9382 3955. Fax (08) 9388 1025. E:[email protected] www.peelmining.com.au