Troy
Resources NL (TSX:TRY)(News
- Market
indicators) -
The Directors of Troy
Resources NL are pleased to announce the introduction of a dividend
re-investment plan (the "Plan") to be in effect prior to the next dividend
declared by the Company.
The Plan permits qualified
shareholders of the Company to acquire additional shares of the Company by
reinvesting all or a portion of the cash dividends paid on their
shareholdings.
A copy of the Plan is available on the
Company's website at www.troyres.com.au.
Key points of the Plan include:
- Under the Plan the directors of the Company can and intend to issue
shares at a fixed 5% discount from the average market price of the
shares over the five day period shortly following the relevant record
date;
- Brokerage, commissions and administrative costs for the shares
issued under the Plan will be borne by the Company and not the
registered shareholder however beneficial shareholders may incur fees in
respect of services provided by their nominee; and
- Qualified shareholders may elect to participate in the Plan on
either a full or partial basis specifying a fixed number of shares.
Enrolment forms and election forms
will be mailed to registered shareholders in the coming days. Election
forms, in respect of shareholders registered on the Company's Australian
share register will also be available online at www.computershare.com.au and
enrolment forms, in respect of shareholders registered on the Company's
Canadian share register will be available online at www.computershare.com. Beneficial
shareholders should contact their financial intermediary to arrange
enrolment.
Commenting on the announcement of the
Dividend Reinvestment Plan, Troy's CEO Paul Benson said, "We are very
pleased we have been able to introduce a dividend reinvestment plan for
Troy shareholders. Troy is proud of its track record of paying 11
consecutive cash dividends. This plan gives each shareholder the choice to
receive all or part of any future dividends as cash or new Troy shares.
Importantly, the new shares will be priced at a 5% discount to the market
price and in most cases will be free of brokerage costs."
ABOUT TROY
RESOURCES
Troy Resources (TSX:TRY)(News
- Market
indicators) is a dividend-paying junior gold producer, with a clear
growth strategy. The Company has two producing gold operations;
Andorinhas Mine in Para State, Brazil and the Casposo gold and silver
mine, in San Juan province, Argentina.
Troy has an experienced Board and
management team with a track record of successful, fast-track mine
development and low-cost operations.
Troy has an annual exploration budget
in excess of $15 million and a proven track record in exploration
discoveries and strategic acquisitions.
With the development of the Casposo
project, Troy has entered a renewed growth phase which will again lift the
Company's annual gold production above 100,000 ounces of gold per
annum.
The Company is positioned to continue
its path of strong growth and profitable operations, and is on track to
achieve its vision of becoming a highly profitable mid-tier gold producer
with a portfolio of quality long-life assets.
The Company maintains a robust
balance sheet and forecasts continued strong cash flow from its current
assets. Troy's gold production is unhedged; allowing its shareholders
access to the full benefit of current and future gold price upside.
Troy is a responsible corporate
citizen, committed to the best practice of health and safety,
environmental stewardship and social responsibility.
To view maps of Troy's project
locations, please visit the following link: http://media3.marketwire.com/docs/try822i.pdf.
ABN 33 006 243
750
