31st Mar 2006 07:02
Centamin Egypt Limited31 March 2006 Centamin Egypt Limited ("Centamin" or "the Company") Placing of 75 million new ordinary shares at a price of 27.5p per share to raise £20.6 million Centamin, the dual listed gold exploration company, has conditionally completeda placing ("the Placing") raising approximately £20.6 million (A$50.4 million),before expenses, for the Company. The funds raised from the Placing will be usedto secure long lead time items and to cover pre-mining costs in relation to thedevelopment of the Company's Sukari mine. Funds will also be used to providegeneral working capital. Details of the Placing Williams de Broe Plc ("Williams de Broe"), acting as the Company's nominatedadviser and broker in connection with the Placing, has placed 75,000,000 newordinary shares of no par value in the Company ("New Ordinary Shares") toinstitutional investors and other financial institutions including AmbrianPartners Limited who acted as sub-agent to the Placing. The New Ordinary Shares have been placed at a discount of approximately 7.6 percent. to the closing middle market price of 29.75p per share on 30 March 2006,the last business day prior to the date of this announcement. The New OrdinaryShares will represent approximately 13.0 per cent. of the Company's enlargedissued share capital immediately following the Placing. A placing agreement between, inter alia, the Company and Williams de Broe inrespect of the Placing is conditional upon, inter alia, admission of the NewOrdinary Shares to trading on the AIM Market of the London Stock Exchange plc("AIM") and the Australian Stock Exchange ("ASX"). Application will be made forthe New Ordinary Shares to be admitted to trading on AIM and the ASX. ThePlacing has not been underwritten by Williams de Broe. It is expected that dealings in the New Ordinary Shares on AIM will commence onor around 6 April 2006. The New Ordinary Shares will rank pari passu with theexisting ordinary shares in the Company. Enquiries: Centamin Egypt LimitedJosef El-Raghy +61 9316 2640 Williams de Broe PlcFrank Moxon +44 (0) 20 7588 7511 Bishopsgate Communications Ltd Nick Rome +44 (0) 20 7430 1600 The directors of Centamin accept responsibility for the information contained inthis announcement. To the best of the knowledge and belief of the directors ofCentamin (who have taken all reasonable care to ensure that such is the case),the information contained in this announcement for which they are responsible isin accordance with the facts and does not omit anything likely to affect theimport of such information. Williams de Broe Plc, which is regulated by The Financial Services Authority, isacting for Centamin and is not acting for anyone else and will not beresponsible to anyone other than Centamin for providing protections afforded tocustomers of Williams de Broe Plc or for advising them in relation to suchtransactions. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Centamin PLC