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RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2014
Feb 10, 2014
65719_rns_2014-02-10_344f40fb-a482-4639-b5a0-d1ca12eec463.pdf
Capital/Financing Update
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RED MOUNTAIN MINING LTD (ASX:RMX)
11 February 2014
ASX ANNOUNCEMENT
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SHARE PURCHASE PLAN OVERSUBSCRIBED
Perth-based Red Mountain Mining is pleased to advise that its Share Purchase Plan (“SPP”), which closed on 4 February 2014, was heavily oversubscribed, with the Company receiving valid applications for A$2,767,500 from 328 shareholders.
The Board of Red Mountain have resolved to extend the previously announced cap of A$700,000 to A$2,454,771, which is within the maximum allowable under the ASX Listing Rules with a 11.3% pro rata scale back to apply to all valid applications received prior to close. This arrangement is seen by the Board as being the most equitable to all shareholders.
Red Mountain Managing Director, Mr Jon Dugdale, commented “We are very pleased with the high take-up in the SPP by our shareholders. This has provided the opportunity for Red Mountain to fund all planned exploration programs and finalise our development plans”.
The Company will now issue 144,398,375 new shares that will rank equally with existing fully paid ordinary shares and are expected to be issued and allotted on 12 February 2014.
Application money in excess of the pro rata subscription amount or received after close of the SPP will be refunded by cheque.
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 E : [email protected] E : [email protected]
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ASX code: RMX ABN 40 119568106
COMPANY DIRECTORS Neil Warburton Non-Executive Chairman Jon Dugdale Managing Director
CONTACT DETAILS RED MOUNTAIN MINING LTD Head Office Unit 1, 2 Richardson Street West Perth Western Australia 6005 www.redmm.com.au [email protected]
Michael Wolley Non-Executive Director Shannon Coates Company Secretary