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VYSARN LIMITED — Capital/Financing Update 2012
Sep 4, 2012
66029_rns_2012-09-04_0f3b0d7f-0fd1-46ba-985e-9f38c44d487f.pdf
Capital/Financing Update
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Company Update
ASX Release – 5 September 2012
Options
MHM is pleased to announce that nearly all of the MHM Listed and Unlisted Options which expired on 31 August 2012 have been exercised. Cash on hand as at Monday, 4 September 2012 is in the order of $6.66 million.
As previously advised, MHM entered into an underwriting agreement with one of its’ major shareholders, Brazil Farming Pty Ltd, pursuant to which that entity agreed to underwrite the balance of any Options remaining on expiry. The terms of the agreement with Brazil Farming are that remaining Options will be subscribed for at a price of AUD $0.20 per share with the Company to pay to Brazil Farming a fee of approximately $4,000 in respect of the subscription.
MHM will update the market as to the extent of Brazil Farming’s holding once the transaction has been finalised.
Operations
During the last week the Geelong plant received 370 tonnes of salt slag from Alcoa and 30 tonnes of dross from Sims. The plant processed 600 tonnes over that period.
ASX Codes MHM, MHMO
Issued Capital 129.8 Ordinary Shares .336 Listed Options
Substantial Shareholders
Rogers Southern PL 10% Brazil Farming 8.82% Directors 13% Top Twenty 34%
Directors
Chairman - Basil Conti Managing Director – Phil Thick Executive Director - Ben Mead Executive Director - Simon Wells
Contact:
FURTHER INFORMATION:
Rudi Michelson Monsoon Communications +61 (0)3 9620 3333 [email protected]
PO Box 21 KINGSTON TAS 7051
T: +61 (0)3 6229 9955 F: +61 (0)3 6229 8430 W: www.mhmmetals.com
ABN: 41 124 212 175
MHM ASX RELEASE –5 SEPTEMBER 2012 Company Update
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