6th Oct 2006 08:38
Albidon Limited06 October 2006 Level 1Albidon Limited 62 Colin St West Perth 6005 Western Australia ARBN 107 288 755 Tel: +61 8 9211 4600 Fax: +61 8 9211 4699 Email:[email protected] ASX Code: ALB AIM Code: ALD via electronic lodgement ALBIDON LTD RAISES US$35 MILLION EQUITY FUNDING FOR THE MUNALI NICKEL PROJECT Albidon Ltd ("Albidon") intends to raise approximately US$35 million beforeexpenses (A$46.92 million, £18.38 million) by the issue of 39.10 millionordinary shares at a weighted average price of A$1.20 (£0.47) per share. In anoversubscribed placing, the Royal Bank of Canada ("RBC") and Numis SecuritiesLimited ("Numis") have together committed conditionally to subscribe for andsubsequently place 30.90 million shares with RBC's institutional clients inAustralia and Asia and Numis' institutional clients in the UK. The remainder ofthe shares have been placed with investors procured by Albidon. The purpose of the raising is to fund the Munali Nickel Project. The balance ofthe required Project funding is planned to be provided by debt. The Company willalso retain a modest cash reserve for working capital purposes. The issue of up to 30 million shares was approved at a General Meeting ofshareholders on 29 September 2006. The balance of the placement shares will beissued using the Company's 15% capacity under the ASX Listing Rules. By order of the Board Albidon Limited If you have any queries please contact Nicholas Day on +61 8 9211 4600 or [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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