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| Major shareholder converts $16.2 million notes into shares | |
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ASX Announcement
14 July 2015
Major shareholder converts $16.2 million notes into shares
Terramin Australia Limited (ASX: TZN) is pleased to announce that Terramin's largest shareholder, Asipac Group Pty Ltd (Asipac) has elected to convert $16,238,670.70 of convertibles notes (Notes) into shares. The Notes have been converted into 249,825,703 fully paid ordinary shares (Conversion Shares) under the terms of a Convertible Notes Deed Poll entered into on 7 October
2014.
In addition, the company has issued 2,706,551 shares (Interest Shares) in satisfaction of interest payable on the Notes as at the conversion date. The issue of the Conversion Shares and the Interest Shares was approved by Terramin shareholders at the Extraordinary General Meeting held on 17
September 2014. The Notes have been cancelled from the Company's note register.
Commenting on the conversion, Martin Janes, Terramin's Chief Executive Officer said: "We are very pleased that our major shareholder has elected to convert its notes into shares as it shows confidence in the future of Terramin and the progress it has made towards the development of its Tala Hamza Zinc Project. The conversion also marks the completion of significant restructuring of the Terramin balance sheet with total debt levels being reduced to $6.4 million compared to $35.0 million that existed just 12 months ago."
For further information, please contact:
Martin Janes
Chief Executive Officer
Terramin Australia Limited
+61 8 8213 1415 [email protected]
Level 3
70 Hindmarsh Square
Adelaide
SA
5000
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Terramin Australia Ltd
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PRODUCTEUR |
CODE : TZN.AX |
ISIN : AU000000TZN3 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Terramin est une société développant des projet miniers de zinc et de plomb basée en Australie. Terramin est productrice de zinc, de plomb, d'argent, de cuivre et d'or en Australie, en développement de projets de plomb et de zinc en Algerie, et détient divers projets d'exploration en Australie. Son principal projet en production est ANGAS en Australie, son principal projet en développement est OUED AMIZOUR (TALA HAMZA) en Algerie et ses principaux projets en exploration sont MENNINNIE ZINC, BIRD-IN-HAND et TALA HAMZA en Australie. Terramin est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 74,7 millions AU$ (50,9 millions US$, 45,8 millions €). La valeur de son action a atteint son plus haut niveau récent le 15 octobre 2010 à 0,80 AU$, et son plus bas niveau récent le 26 avril 2013 à 0,01 AU$. Terramin possède 1 821 139 968 actions en circulation. |