23rd Nov 2007 15:35
Centamin Egypt Limited23 November 2007 CENTAMIN EGYPT LIMITED ANNOUNCES CLOSING OF C$134,400,000 SPECIAL WARRANT FINANCING Centamin Egypt Limited (TSX:CEE) (AIM:CEY) (ASX:CNT) is pleased to announce thatit has closed the previously announced offering of special warrants (the "Offering"), sold on a private placement basis through a syndicate ofunderwriters led by Westwind Partners Inc. and including Orion Securities Inc.,Ambrian Partners Limited and Cormark Securities Inc. (collectively, the "Underwriters"). An aggregate of 112,000,000 special warrants were issued andsold today at a price of C$1.20 per special warrant for aggregate gross proceedsof C$134,400,000, which includes the exercise in full by the Underwriters of theUnderwriters' option. The Offering was subject to shareholder approval of 75,893,863 ordinary sharesand 8,794,691 broker warrants that were issued in April 2007, which was receivedat the Company's annual meeting held today. Each special warrant shall be automatically exercised for no additionalconsideration to acquire one ordinary share in the capital of the Company,subject to adjustment in certain events, at 5:00pm (Toronto time) on the earlierof (a) the third business day after the date that a receipt is issued by thesecurities regulatory authorities in Canada for a final prospectus qualifyingthe ordinary shares to be issued upon the exercise of the special warrants and(b) the date that is four months and one day following the closing date of theOffering. Centamin Egypt Limited plans to use the net proceeds of this financing to fundthe continued development of the Sukari gold project, underground development,other exploration and general corporate purposes. The Underwriters receivedcompensation comprised of cash upon closing of the Offering and will also beissued broker warrants subject to shareholder approval prior to issuance. The securities issued under this Offering were offered by way of privateplacement exemptions in all the provinces of Canada other than Quebec, offshoreincluding in the United Kingdom pursuant to applicable exemptions and in theUnited States on a private placement basis pursuant to exemptions from theregistration requirements of the United States Securities Act of 1933, asamended. The securities offered have not been, nor will they be, registered under theUnited States Securities Act of 1933, as amended, and were not offered or soldwithin the United States or to, or for the account or benefit of, U.S. personsabsent U.S. registration or an applicable exemption from the U.S. registrationrequirements. This release does not constitute an offer for sale of securitiesin the United States. For Centamin Egypt Limited Josef El-RaghyManaging Director/CEO23 November 2007 For more information please contact: Centamin Egypt Limited Pelham Public Relations Ambrian Partners Limited+ 61 (8) 9316 2640 + 44 (0) 207 743 6376 + 44 (0) 207 776 6400Josef El-Raghy Candice Sgroi Richard Brownwww.centamin.com Mobile: + 44 (0) 7894 462 114 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Centamin PLC