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STELLAR RESOURCES LIMITED Capital/Financing Update 2014

Jan 16, 2014

65860_rns_2014-01-16_313b54d8-a3c8-4bb1-ac52-6abc9a5d8697.pdf

Capital/Financing Update

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17 January 2014

ASX Announcement

Information Disclosed under ASX Listing Rule 3.10.5A and 7.1A.4(b)

Further to the ASX announcement and Appendix 3B lodged by Stellar Resources Limited (ASX: SRZ) on 17 January 2014 regarding completion of the 50.0 million placement to Capetown S.A., Stellar Resources Limited provides the following information under Listing Rule 3.10.5A:

a) A total of 50,000,000 shares were issued under the placement. A total of 22,344,754 shares to be issued pursuant to Listing Rule 7.1A (representing 8.17% of the postplacement capital) and 27,655,246 shares to be issued pursuant to Listing Rule 7.1 (representing 10.11% of the post-placement capital).

The percentage of the post-placement capital held (in aggregate)is as follows:

Pre-placement security holders who not participate in the placement – 81.72%
Pre-placement security holders who did participate in the placement – 0%
Participants in the placement who were not previously security holders – 18.28%
b) Stellar Resources Limited considered the placement as the most efficient and expedient method for raising the required funds to achieve its stated objectives given the funding certainty. Stellar Resources Limited also considered the significant benefits in introducing a new cornerstone investor to promote a more diverse shareholder base. Stellar Resources limited completed a pro-rata issue in February 2012.
c) The placement was not underwritten.
d) Commission is payable at a rate of 6% of the $2.6 million of funds received and 6% of the 50.0 million ordinary shares issued.

For further details please contact:

Peter Blight CEO Tel: 03 9618 2540 Email: [email protected]