PLATINA RESOURCES LIMITED — Capital/Financing Update 2014

Oct 12, 2014

13 October 2014

ASX Release: PGM

Non-Renounceable Rights Issue

Platina Resources Limited ACN 119 007 939 ( Platina or the Company ) is pleased to announce a non-renounceable rights issue to eligible shareholders, on the basis of 1 new fully paid ordinary share for every 5 shares held, at an issue price of $0.09 per share ( New Shares ), to raise approximately $2.4 million, based on Platina’s undiluted share capital ( Rights Issue ). Assuming no existing options on issue in the Company are exercised, approximately 26,883,822 fully paid ordinary shares will be offered under the Rights Issue.

The Rights Issue will be available to all registered shareholders as at 7.00pm (AEDT) on 27 October 2014 ( Record Date ). Shares issued pursuant to the Rights Issue will rank equally with all shares on issue.

In accordance with the Listing Rules of the ASX, Platina has considered the number of shareholders with registered addresses in various jurisdictions outside of Australia and New Zealand and the size of the shareholdings held by those shareholders. Taking this into consideration, as well as the costs of complying with the legal requirements and the requirements of the regulatory authorities relating to the shareholders with registered addresses in various jurisdictions outside of Australia and New Zealand and the Company has formed the view that it is unreasonable to extend the Rights Issue to those shareholders.

The purpose of the Rights Issue is to raise approximately $2.4 million, excluding the costs of the Rights Issue. The funds raised from the Rights Issue will be used to fund the costs of the Rights Issue, to provide working capital and to commence and progress feasibility studies on the Company’s Owendale Project.

A proposed timetable for the Rights Issue is set out in the table below:

Date	Event/s
13 October 2014	Announcement of Rights Issue
13 October 2014	Submit Appendix 3B to ASX
13 October 2014	Notice sent to Optionholders
13 October 2014	Notice of Rights Issue sent to Shareholders
23 October 2014	Trading on Ex basis
27 October 2014	Record Date for Rights Issue
30 October 2014	Completion of despatch offer documents to shareholders announced
30 October 2014	Rights Issue Opens
11 November 2014	Rights Issue Closes
18 November 2014	Expected date of issue of New Shares under Rights Issue
19 November 2014	Despatch of New Shares holding statements
19 November 2014	Normal trading resumes

This timetable is indicative only and may be subject to change subject to the requirements of the Corporations Act 2001 (Cth) and the ASX Listing Rules.

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The Rights Issue is being made without a disclosure document, pursuant to the exemption granted in section 708AA of the Corporations Act 2001 (Cth) ( Corporations Act ). Platina will send an offer document to shareholders on 30 October 2014, as set out in the timetable above.

Excluded information

Platina advises that as at the date of this notice there is no information:

• (a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

• (b) that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

  • (1) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • (2) the rights and liabilities attaching to the New Shares.

Cleansing Notice

Pursuant to section 708AA(7) of the Corporations Act , Platina provides notice of the following:

1. Platina will offer the New Shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act .

2. Platina is providing this notice under section 708AA2(f) of the Corporations Act .

3. As at the date of this notice, Platina has complied with:

   • (a) the provisions of Chapter 2M of the Corporations Act as they apply to Platina; and

   • (b) section 674 of the Corporations Act .

4. As at the date of this notice there is no information:

   • (a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

   • (b) that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

     • (1) the assets and liabilities, financial position and performance, profits and losses and prospects of Platina; or

     • (2) the rights and liabilities attaching to the New Shares.

5. If all shareholders take up their entitlement under the Rights Issue, the Rights Issue will have no effect on the control of Platina. However, the proportional shareholdings of shareholders who are not residents in Australia or New Zealand may be diluted as those shareholders are not entitled to participate in the Rights Issue. Additionally, if an eligible shareholder does not take up their entitlement in full there may be a dilutionary effect on that shareholder’s proportionate shareholdings. The Rights Issue is not underwritten. In the event of a shortfall, the directors of Platina reserve the right to place the shortfall at their sole discretion.

Further information

The Company anticipates that, approximately 26,883,822 New Shares will be issued (this number may have to be increased to 43,951,937 New Shares if all existing option holders exercise their options prior to the Record Date). The New Shares will be issued for $0.09 each.

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Upon completion of the Rights Issue, and assuming that existing option-holders do not exercise their options, the issued capital of Platina will comprise:

Security type	Quantity
Ordinary Shares	161,302,930
Quoted Options (PGMO - $0.06 @ 30-Sep-15)	84,340,575
Unquoted Options ($0.10 @ 26-Nov-16)	1,000,000
Performance Rights (various conditions and expiry dates)	2,125,000

The New Shares will rank equally in all respects with Platina’s existing shares. If an eligible shareholder's entitlement results in a fraction of a New Share, the shareholder's entitlement will be rounded up to the nearest whole number.

Trading in the New Shares is expected to commence on 19 November 2014.

An Appendix 3B applying for quotation of the New Shares will be lodged with the ASX today.

Platina encourages all eligible shareholders to participate in the capital raising.

On behalf of the board, D P Cornish Company Secretary