Sandfire Resources NL (ASX: SFR)
ASX RELEASE 22 July 2009
NON-RENOUNCEABLE ENTITLEMENT OFFER
Sandfire Resources NL (Sandfire or the Company) is pleased to announce that it will be offering eligible shareholders (being holders of ordinary fully paid shares and contributing shares) the opportunity to acquire additional fully paid ordinary shares (New Shares) in the capital of the Company via a non-renounceable entitlement offer (Entitlement Offer) on the basis of one (1) New Share for every ten (10) Shares held at the record date of 31 July 2009 (Record Date), with any fractional entitlement being rounded down.
New Shares under the Entitlement Offer will be offered at $1.20 cent per Share. The offer price represents a substantial discount to the closing price of Sandfire?s shares on the day prior to this announcement. The number of Shares which will be issued under the Entitlement Offer is approximately 9,654,595.
The Company does not expect the Entitlement Offer to result in any material change to the control of the Company.
The proposed timetable for the Entitlement Offer is set out below.
Entitlement Offer announced via ASX
22 July 2009
Notice to shareholders containing Appendix 3B information and details of the timetable
24 July 2009
Ex Date
27 July 2009
Record Date (date for determining entitlements of Eligible Shareholders to participate in the Offer)
31 July 2009
Offer Document and Entitlement and Acceptance form despatched to eligible shareholders
5 August 2009
Close Date (date on which acceptances close)*
19 August 2009
New Shares quoted on a deferred settlement basis**
20 August 2009
Company to notify ASX of under-subscriptions (if any)**
24 August 2009
Issue of New Shares and despatch of holding statements**
27 August 2009
*Subject to the Listing Rules, the directors reserve the right to extend the Closing Date for the Offer at their discretion. Should this occur, the extension will have a consequential effect on the anticipated date of issue for the new shares.
**These dates are indicative only.
Documents attached to this announcement in relation to the Entitlement Offer:
1. Notice under Section 708AA(2)(f) of the Corporations Act 2001 (Cth);
2. Appendix 3B;
3. Chairman?s letter to shareholders;
4. Offer Document with attached Entitlement and Acceptance Form;
5. letter to option holders.
Jean Mathie
Company Secretary
READ CORPORATEPublic Relations Corporate CommunicationsT: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au
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Sandfire is a copper and gold exploration company based in Australia.
Sandfire develops copper, gold and silver in Australia, and holds various exploration projects in Australia.
Its main asset in development is DEGRUSSA in Australia and its main exploration properties are URANDY, YANNARIE, BORROLOOLA and DOOLGUNNA in Australia.
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