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RAIDEN RESOURCES LIMITED — Capital/Financing Update 2010
Sep 29, 2010
65675_rns_2010-09-29_57f461b0-75d7-408c-8fb2-c40014a36858.pdf
Capital/Financing Update
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----- Start of picture text ----- SHELLVILLAGES AND RESORTS LIMITEDABN 68 009 161 522----- End of picture text -----
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Suite 20, Level 3, 72 Pitt Street Sydney NSW 2000
30 SEPTEMBER 2010
The Company Announcements Office ASX Limited
PLACEMENT OF SECURITIES TO RAISE $370,000
SHELL Villages and Resorts Limited (SVC) has agreed to issue 26,250,000 ordinary shares in the issued capital of the Company to a number of investors under section 708 of the Corporations Act at an issue price of $0.01c to raise $262,500. The shares will be subject to shareholder approval at a forthcoming Extraordinary General Meeting (EGM).
The director's intend at the same EGM to seek approval from shareholders to convert $107,500 of converting loans to equity, by issuing 10,750,000 ordinary shares at a price of $0.01 per ordinary share to the lenders.
On 3[rd] May 2010 SVC made an announcement that it had agreed to place 23,125,000 fully paid ordinary shares at $0.016 shares to raise $370,000 from private investors. SVC has not issued any shares contemplated under this announcement and will not be issuing the shares for consideration as described in the announcement. The current issued capital of the Company remains 43,108,368 which is unchanged since the announcement of 3[rd] May 2010.
The new issued Capital of the Company will be 80,108,368. The funds will be applied to the cash component of the Creditors compromised & to working capital.
B PATKIN DIRECTOR [email protected]
Address for all mail: GPO Box 5188 Sydney NSW 2001 Australia Tel: +61412224225 Fax: +612 9232 8816
Address for all mail: GPO Box 5188 Sydney NSW 2001 Australia Tel: +61412224225 Fax: +612 9232 8816