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RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2014
Sep 17, 2014
65719_rns_2014-09-17_be5163f0-9a11-414c-96d2-57424c441ee2.pdf
Capital/Financing Update
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18 September 2014
ASX ANNOUNCEMENT
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DISCLOSURE UNDER ASX LISTING RULE 7.1A.4(B) AND 3.10.5A
In relation to the Placement advised in the Appendix 3B released to the ASX today, and in accordance with ASX Listing Rules 7.1A.4(b) and 3.10.5A the Company makes the following disclosures in respect of the Placement:
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(a) The Company issued 68,925,234 of the 74,960,000 Placement shares under Listing Rule 7.1A. The securities issued resulted in the following dilution to existing holders of ordinary securities:
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Number of fully paid ordinary shares on issue prior to the Placement of securities under LR 7.1A was 686,947,994.
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Number of fully paid ordinary shares on issue following this issue of securities under LR 7.1A was 755,873,228.
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Percentage of voting dilution due to the portion of the Placement shares that are issued under LR 7.1A following the issue is 9.05%, with the total dilution due to the Placement being 9.84%.
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(b) The Company issued shares as a placement to sophisticated and professional investors as this was considered to be the most expedient mechanism for raising funds in a timely manner. The Company is grateful for the support of its longterm shareholders and has announced its intention to afford those shareholders the opportunity to participate in future capital raising via a pro rata renounceable rights issue, announced to ASX on 15 September 2014.
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(c) No underwriting agreements were entered into with respect to the Placement. (d) Patersons Securities Limited was appointed Lead Manager to the Placement and is entitled to a fee of 6% of funds raised pursuant to the Placement, being $35,980.
AUTHORISED BY:
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Shannon Coates Company Secretary
For further information about Red Mountain please visit www.redmm.com.au or contact:
Company Investors Media
Jon Dugdale Matt Birney Managing Director Birney Corporate (+61) 402 298 026 (+61) 419 217 090 (+61) 8 9226 5668 (+61)8 9226 5668 [email protected] [email protected]
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ASX code: RMX ABN 40 119568106
COMPANY DIRECTORS CONTACT DETAILS Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Non-Executive Chairman Non-Executive Director Head Office Jon Dugdale Shannon Coates Unit 1, 2 Richardson Street Managing Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au [email protected]