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RAND MINING LIMITED Capital/Financing Update 2009
65721_rns_2009-12-13_5a4449ae-de81-4457-90de-afbcef0365ef.pdf
Capital/Financing Update
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14 December 2009
Dear Shareholder
Notice to Shareholders of Rights Issue
As advised in an ASX announcement on 2 December 2009, Rand is completing a pro-rata offer of Shares to Eligible Shareholders, on the basis of 1 new Share for every 2 Shares held at the Record Date (10 December 2009), at an issue price of $0.32 cents per new Share ("Offer").
Rand currently has 40,560,813 Shares and 4,500,000 Options on issue. The Offer is for 20,280,396 new Shares. The Offer will raise up to approximately $6,489,730 (before the payment of costs associated with the Offer).
Upon completion of the Offer, Rand will have 60,841,209 Shares on issue.
The Offer is non renounceable and is fully underwritten by Tribune Resources NL. Tribune Resources NL may be paid an underwriting fee of up to 5% of the funds raised under the Offer.
The prospectus in relation to the Offer was lodged with ASIC and ASX on 1 December 2009 and is available on both the ASX website (www.asx.com.au) and on the Rand website (www.randmining.com.au).
By way of this announcement, Rand would like to inform shareholders that a copy of the prospectus has been sent to Eligible Shareholders on 14 December 2009.
The following timetable is included in the Prospectus:
| Lodgement of Prospectus with ASIC and provision ofcopies to ASX Appendix 3B given to ASX | 1 December 2009 |
|---|---|
| Company sends letter to Shareholders containinginformation required by Appendix 3B | 2 December 2009 |
| Existing Shares quoted on an ex basis | 4 December 2009 |
| Record date for determining Entitlements | 10 December 2009 |
| Prospectus and Entitlement and Acceptance Formdespatched to Eligible Shareholders | 14 December 2009 |
| Announce to ASX that Prospectus has been sent toEligible Shareholders | 14 December 2009 |
| Closing Date | 15 January 2010 |
| Shares quoted on a deferred settlement basis | 18 January 2010 |
| Anticipated date for allotment and issue of the Shares | 20 January 2010 |
| Anticipated date for despatch of holder statements(and last day for the Company to confirm to ASX allinformation required by Appendix 3B) | 21 January 2010 |
| Anticipated date of commencement of Shares trading | 22 January 2010 |
The directors of Rand recommend that if you are in doubt as to the value of the Offer then you should contact your financial adviser.
Yours sincerely
Roland Berzins Company Secretary