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TESORO GOLD LTD — Capital/Financing Update 2007
Aug 6, 2007
65957_rns_2007-08-06_6b6ff684-7db5-438e-8e56-874897dfad2e.pdf
Capital/Financing Update
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7 August 2007
Dear Shareholder
1 for 4 Entitlements Offer at $1.09 per share
van Eyk Three Pillars Limited is pleased to announce the offer of a pro rata rights issue to raise a total of $25.2 million, before expenses.
The funds to be raised through the entitlements offer will be invested on the basis of van Eyk Three Pillars Limited’s investment objective which utilises investment principles developed around the van Eyk Research share selection model, combined with the corporate management and governance expertise of White Outsourcing Pty Limited.
The rights issue will be conducted by way of a renounceable 1 for 4 rights issue entitlements offer. The offer is not underwritten.
Under the entitlements offer, eligible van Eyk Three Pillars’ shareholders are entitled to subscribe for 1 new fully paid ordinary van Eyk Three Pillars’ share for every 4 existing ordinary shares held at 7.00pm on 15 August 2007 at the offer price of $1.09 per share.
Shareholders will be eligible to apply for additional shares. The availability of additional shares will depend on the shortfall from the offer and, therefore, shareholders cannot be assured of receiving any additional shares. The maximum number of additional shares which a shareholder may apply for is up to half of their rights entitlement. If applications for additional shares exceeds the number of additional shares available applications will be scaled back at van Eyk Three Pillars Limited’s discretion.
New shares issued will rank equally with existing shares in relation to future dividends.
The record date to determine entitlements is 15 August 2007.
Offer documents are expected to be despatched to eligible shareholders by 17 August 2007.
The entitlements offer is scheduled to close on 11 September 2007.
David Iliffe Chairman
van Eyk Three Pillars Limited ABN 91 106 854 175
Level 7, 20 Hunter St, Sydney NSW 2000 GPO Box 5482, Sydney NSW 2001 P (02) 8236 7701 F (02) 9221 1194
www.vaneyk.com.au www.threepillars.vaneyk.com.au