28th Nov 2007 07:00
GVM Metals Ltd28 November 2007 announcement 28 NOVEMBER 2007-------------------------------------------------------------------------------- GVM METALS LIMITED ISSUE OF EQUITY GVM Metals Limited ('GVM' or the 'Company') is pleased to announce that it hastoday completed a placement of 15,000,000 shares ("Placement"). The shares wereissued at an issue price of $1.50 each, to raise $22,500,000, before costs. The Placement was made under s708 of the Corporations Act to predominantlysophisticated retail investor clients at Euroz Securities Limited. The funds raised from the issues will be applied towards the cost of developingthe Company's Mooiplaats and Baobab coal projects, exploration and generalworking capital. The Placement follows approvals of a resolution at the Company's Annual GeneralMeeting in Perth today providing the required capacity for the Placement inaccordance with Listing Rule 7.1 and the announcement of the placement of 65million shares at 65 pence primarily to European institutions to raise £42.25million. Simon Farrell, Managing Director, commented: "We are very pleased that followingthe successful placement to London institutions, Euroz, Perth's leadinginstitutional broker, has lent its support to our goal of becoming a significantcoal producer in South Africa." AUTHORISED BY: Simon Farrell Managing Director For more information contact:Simon Farrell, Managing Director GVM +61 417 985 383 +61 8 9322 6776Romil Patel / Olly Cairns Blue Oar Securities Plc +44(0) 20 7448 4400 Jos Simson/Arabella Hobbs Conduit PR +44(0) 20 7429 6606 www.gvm.com.au This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MCM.L