Close of Entitlement Offer and Subsriptions
Perth, Mar 17, 2015 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) (Company) advises that its non-renounceable entitlement issue of one (1) Share for every eight (8) Shares held by those Shareholders registered at the Record Date at an issue price of $0.22 per Share to raise up to approximately $7.7 million (before costs) (Offer), closed at 5:00pm (WST) on 13 March 2015.
In addition, the Company is pleased to announce that it has received $1,502,778 from Pacific Road Capital as part of the previously announced additional placement.
Pursuant to the Offer the Company received applications to subscribe for 20,870,009 new Shares from eligible shareholders under the Offer to raise approximately $4,591,402. This represents approximately 60% of all Shares offered under the Offer.
The Company advises that the results of the Offer are as follows:
Total number of Shares offered under the Offer 34,858,830 SharesTotal number of Shares applied for by eligible shareholders under the Offer 20,870,009 SharesShortfall 13,988,821 Shares
The remaining 13,988,821 Shortfall Shares will be taken up in full by the joint underwriters to the Offer, Canaccord Genuity (Australia) Limited and Argonaut Securities Pty Ltd, as set out in the Offer Document.
About ABM Resources NL
ABM Resources (ASX:ABU) is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
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