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TIVAN LIMITED — Capital/Financing Update 2018
Sep 27, 2018
65967_rns_2018-09-27_916caae8-6294-4665-9449-2014b2411995.pdf
Capital/Financing Update
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28 September 2018
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ASX ANNOUNCEMENT
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TRANCHE 1 PLACEMENT TO VIMSON GROUP COMPLETED
TNG Limited (ASX: TNG) is pleased to advise that it has today issued 93,757,203 Shares to leading Indian mining conglomerate the Vimson Group, through its Singapore-based, wholly owned subsidiary, V. M. Salgaocar & Bro. (Singapore) Pte. Ltd. at $0.104 per share raising approximately $9.75 million. Completion was originally scheduled for 5 October 2018.
The second tranche of the Placement (approximately $0.25 million) will complete following TNG’s Annual General Meeting in November (subject to receipt of shareholder approval for the second tranche).
Funds raised under the subscription agreement and the Share Purchase Plan (announced on 24 September 2018) will be used to progress the final engineering design and permitting required before TNG makes a final investment decision for the Mount Peake Project.
Paul E Burton Managing Director
28 September 2018
Inquiries:
Paul E Burton Managing Director + 61 (0) 8 9327 0900 Nicholas Read Read Corporate + 61 (0) 8 9388 1474
W www.tngltd.com.au E [email protected]
ASX CODE: TNG ABN 12 000 817 023
REGISTERED OFFICE T +61 8 9327 0900 Suite 20, 22 Railway Road F +61 8 9327 0901 Subiaco, Western Australia 6008