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SAVANNAH GOLDFIELDS LIMITED Capital/Financing Update 2003
65880_rns_2003-10-28_f91f1a75-1304-457e-a539-69697747111f.pdf
Capital/Financing Update
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RENISON CONSOLIDATED MINES NL
ACN 003 049 714
Mail Address PO Box 7066 Riverside Centre Brisbane Old 4001
Level 30 Riverside Centre 123 Eagle St Brisbane Old 4000
Phone: (07) 3832 6488 Fax: (07) 3832 6261 Email: [email protected]
ASX ANNOUNCEMENT
29 October 2003
Amendment to Terms of Partly Paid Shares (RSNCC)
The Directors of Renison Consolidated Mines NL advise that, subject to receipt of the necessary holder's approval, there will be an amendment to the current call program for the Partly Paid shares that the Company has on issue (ASX code: RSNCC).
The effect of the proposed amendment will be to replace the current call of 22 cents that is due on 31 January 2004 with a series of calls which will be payable in the amounts and on the dates that follow:
| (a) as to $0.5$ cent: | by 31 January 2004 |
|---|---|
| (b) as to $1$ cent: | by 31 January 2005 |
| $(c)$ as to 1 cent: | by 31 January 2006 |
| (d) as to 1 cent: | by 31 January 2007 |
| $(e)$ as to 1 cent: | by 31 January 2008 |
| (f) as to $17.5$ cents: | by 31 January 2009. |
The Company currently has 152,500,000 Partly Paid shares on issue that have been paid to 3 cents. A meeting of holders of Partly Paid shares will be held on 27 November 2003 immediately following the Company's Annual General Meeting to consider the special resolution that will be required to be passed to effect the amendment. A notice of meeting and explanatory memorandum will be despatched to all holders of Partly Paid shares shortly.
The proposed amendment to the call program is in line with the board's strategy of maintaining flexibility for its capital raising initiatives and the proposed call program will assist the Company to maintain a strong treasury at all times to provide for both the continued development of the Company's existing assets and also the ability to take advantage of new project opportunities in the resources sector.
For and on behalf of the Board
JPK Marshall Company Secretary Brisbane, 29 October 2003
For further information contact:
Richard Seville or Stephen Bizzell Phone: (07) 3832 6488 Fax: (07) 3832 6261 E-Mail: [email protected]