AI assistant
STREAMPLAY STUDIO LIMITED Capital/Financing Update 2006
65841_rns_2006-03-16_d00f9378-45fe-4423-a8a0-a570d544d8b5.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Suite 34, 18 Stirling Highway, Nedlands WA 6009 PO Box 352, Nedlands WA 6909, Australia ABN 31 004 766 376 Tel: (08) 9389 8611 Fax: (08) 9389 8612 [email protected] www.gippslanditd.com
16 March 06
LSE-ASX Announcement
Media Release
ISSUE OF SHARES
Placement of shares on London Stock Exchange AIM
Gippsland Limited ("Gippsland" or "the Company") (ASX & AIM: "GIP") today announces the placing of 24 million fully paid ordinary shares to UK institutional investors at a price of 5 pence (approximately 11.8 Australian cents) per share raising the sum of UK£1.200.000 (approximately A$2.84 million) before costs. The placing was undertaken by UK broker HB-corporate.
These shares will rank pari passu with all existing Gippsland fully paid ordinary shares. Application has been made for the admission of the new shares for trading on the London Stock Exchange AIM and the Australian Stock Exchange with trading expected to commence on 21 March 2006. The total number of shares on issue following admission will be 201,818,359.
Further to the announcement on 7th March 2006 in respect of the Abu Dabbab project finance mandate with the International Finance Corporation (IFC) the funds raised under this placing will be employed to expand Giopsland's management team including key positions in finance, operations, project management, metallurgy and geology as the Company moves from an exploration company to a world scale mining operation.
In addition the funds raised will be used to continue the exploration of the Company's Wadi Allagi gold projects in anticipation of confirming a JORC compliant resource, subject to drilling results, during 2006.
Commenting on the placing, Gippsland Executive Chairman Jack Telford stated "These additional funds will allow Gippsland to build a world class team capable of fulfilling the potential of our 40Mt Abu Dabbab tantalum-tin project which is destined to become a major participant in the global tantalum market. The funds raised will also facilitate accelerated exploration of our highly prospective gold projects in Wadi Allagi."
RJ (Jack) Telford Executive Chairman
For further information please contact:
Jack Telford Executive Chairman Gippsland Limited www.qippslandltd.com Tel: +61 (0)8 93898611 [email protected]
Leesa Peters Laurence Read Conduit PR Tel: +44 (0)20 7618 8708 [email protected] [email protected]
Les Polden Luke Cairns Hoodless Brennan Plc Tel: +44 (0)20 7538 1166 [email protected] [email protected]