Microsoft Word - 20151214 DEG ASX Notification of under subscriptions.docx
De Grey Mining Ltd
A.B.N. 65 094 206 292
14 December 2015
ASX/MEDIA RELEASE
Notification of Under Subscriptions
Perth, Western Australia: De Grey Mining Ltd (De Grey, ASX: DEG) wishes to advise that the renounceable rights issue announced on 18 November 2015 (Rights Issue) closed at 5:00pm (WST) on Wednesday 9 December 2015.
The following table sets out the number of New Shares subscribed for by Eligible Shareholders under the Rights Issue offer and the number of under subscriptions to the Offer:
|
Rights Issue Offer
|
Number of New Shares
|
Gross Proceeds
|
Percentage of Maximum
|
|
Maximum number of New shares that could have been issued under the Rights Issue Offer per the offer document
|
1,715,191,587
|
$1,715,192
|
100%
|
|
Less: Rights Issue offer subscriptions
|
543,485,409
|
$543,486
|
32%
|
|
Offer shortfall (under subscriptions) Underwritten by DJ Carmichael Pty Ltd
|
1,171,706,178
|
$1,171,706
|
68%
|
Under the terms of the Underwriting Agreement between the Company and DJ Carmichael Pty Ltd (the Underwriter), the Underwriter will now proceed to subscribe for/or procure third parties to subscribe for the Underwritten Shortfall Shares representing $1,171,706 by the Underwritten Subscription Date of 18 December 2015.
Subject to ASX approval, the Company therefore expects to issue the 1,715,191,587 New Shares on 18 December 2015 in accordance with the Rights Issue timetable as previously announced to ASX with the holding statements to be dispatched on or around 18 December 2015.
For further information:
Simon Lill (Director) or Craig Nelmes (Company Secretary/CFO)
Director
De Grey Mining Ltd Phone +61 9381 4108
Davide Bosio
Managing Director - DJ Carmichael Pty Limited
+61 8 9263 5210
Registered Office: Level 1, Suite 5, The Business Centre, 55 Salvado Road, Subiaco, WA 6008 ▪ PO Box 131, Subiaco, WA 6904
Tel: +61 8 93814108 ▪ Fax: +61 8 9381 6761 ▪ Email: [email protected] ▪ Website: www.degreymining.com.au