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GVM
GVGVM
GVM - GVM Metals Limited - Announcement
GVM Metals Limited
(previously, "Golden Valley Mines Limited")
(Incorporated and registered in Australia)
(Registration number ACN 008 905 388)
Share code on the JSE Limited: GVM ISIN: AU000000GVM1
Share code on the Australian Stock Exchange Limited: GVM ISIN:
AU000000GVM1
("GVM" or `the Company")
ANNOUNCEMENT (Released on ASX on 25 May 2007)
GVM Metals Limited (`GVM` or the `Company`) is pleased to announce that,
further to Resolution 6 passed at the General Meeting of Shareholders held
on 11 May 2007, it has raised GBP12m by way of a placing of 22,223,000 new
ordinary shares in GVM at 54p per share. The monies have been raised with
institutional investors in London and South Africa and will be used to
assist in the acquisition of a 70% interest in Coal of Africa Limited, the
owner of the Mooiplaats Coal Project, and for general development capital
of its coal projects.
Application will be made for 22,223,000 new ordinary shares ("Shares") to
be admitted to trading on AIM. Dealings are expected to commence on 31 May
2007. Following the admission of the Shares, the number of Ordinary Shares
in issue will be 161,468,602.
Secondary Trading Notice Pursuant to Paragraph 708A(5)(e) of the
Corporations Act 2001 ("Act")
The Act restricts the on-sale of securities issued without disclosure,
unless the sale is exempt under section 708 or 708A of the Act. By giving
this notice, a sale of the Shares noted above will fall within the
exemption in section 708A(5) of the Act.
The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:
(a) the Company issued the Shares without disclosure to investors under
Part 6D.2 of the Act;
(b) as at 25 May 2007, the Company has complied with the provisions of
Chapter 2M of the Act as they apply to the Company, and section 674 of the
Act; and
as at 25 May 2007 there is no information:
that has been excluded from a continuous disclosure notice in accordance
with the ASX Listing Rules; and
that investors and their professional advisers would reasonably require for
the purpose of making an informed assessment of:
the assets and liabilities, financial position and performance, profits and
losses and prospects of the Company; or
the rights and liabilities attaching to the relevant Shares.
AUTHORISED BY:
Blair Sergeant
Company Secretary
(Documentation required in terms of ASX)
Appendix 3B
New issue announcement,
application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as
available. Information and documents given to ASX become ASX`s property
and may be made public.
Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000,
30/9/2001, 11/3/2002, 1/1/2003.
Name of entity
GVM Metals Limited
ABN
98 008 905 388
We (the entity) give ASX the following information.
Part 1 All issues
You must complete the relevant sections (attach sheets if there is not
enough space).
1 +Class of Shares
+securities issued
or to be issued
2 Number of 22,223,000 shares
+securities issued
or to be issued (if
known) or maximum
number which may be
issued
Principal terms of Fully paid ordinary
the +securities (eg,
if options, exercise
price and expiry
date; if partly paid
+securities, the
amount outstanding
and due dates for
payment; if
+convertible
securities, the
conversion price and
dates for
conversion)
4 Do the +securities Yes
rank equally in all
respects from the
date of allotment
with an existing
+class of quoted
+securities?
If the additional
securities do not
rank equally, please
state:
the date from which
they do
the extent to which
they participate for
the next dividend,
(in the case of a
trust, distribution)
or interest payment
the extent to which
they do not rank
equally, other than
in relation to the
next dividend,
distribution or
interest payment
5 Issue price or 54 pence each (GBP0.54)
consideration
6 Purpose of the issue To raise a total of
(If issued as approximately ?12,000,000 to
consideration for assist in the purchase of a
the acquisition of 70% interest in Coal of
assets, clearly Africa Limited and for
identify those general development capital
assets) of its coal projects.
7 Dates of entering 31 May 2007
+securities into
uncertificated
holdings or
despatch of
certificates
Number +Class
8 Number and +class 161,468,602 Fully paid
of all +securities ordinary
quoted on ASX shares
(including the
securities in
clause 2 if
applicable)
Number +Class
9 Number and +class 9,000,000 Options
of all +securities exercisable at
not quoted on ASX 50 cents each
(including the on or before
securities in 30 September
clause 2 if 2011
applicable)
10 Dividend policy (in Not applicable
the case of a
trust, distribution
policy) on the
increased capital
(interests)
Part 2 Bonus issue or pro rata issue
Questions 11 to 33 - Not Applicable
Part 3 Quotation of securities
You need only complete this section if you are applying for quotation of
securities
34 Type of securities
(tick one)
(a) Securities described in Part 1
(b) All other securities
Example: restricted securities at the end of the
escrowed period, partly paid securities that
become fully paid, employee incentive share
securities when restriction ends, securities
issued on expiry or conversion of convertible
securities
Questions 35 to 42 - Not Applicable
Quotation agreement
1 +Quotation of our additional +securities is in ASX`s absolute
discretion. ASX may quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
* The issue of the +securities to be quoted complies with the law and is
not for an illegal purpose.
* There is no reason why those +securities should not be granted
+quotation.
* An offer of the +securities for sale within 12 months after their
issue will not require disclosure under section 707(3) or section 1012C(6)
of the Corporations Act.
Note: An entity may need to obtain appropriate warranties from subscribers
for the securities in order to be able to give this warranty
* Section 724 or section 1016E of the Corporations Act does not apply to
any applications received by us in relation to any +securities to be quoted
and that no-one has any right to return any +securities to be quoted under
sections 737, 738 or 1016F of the Corporations Act at the time that we
request that the +securities be quoted.
* We warrant that if confirmation is required under section 1017F of the
Corporations Act in relation to the +securities to be quoted, it has been
provided at the time that we request that the +securities be quoted.
* If we are a trust, we warrant that no person has the right to return
the +securities to be quoted under section 1019B of the Corporations Act at
the time that we request that the +securities be quoted.
3 We will indemnify ASX to the fullest extent permitted by law in
respect of any claim, action or expense arising from or connected with any
breach of the warranties in this agreement.
4 We give ASX the information and documents required by this form. If
any information or document not available now, will give it to ASX before
+quotation of the +securities begins. We acknowledge that ASX is relying
on the information and documents. We warrant that they are (will be) true
and complete.
Sign here: ............................................................
Date: 25 May 2007
(Company secretary)
Print name: BLAIR SERGEANT
www.gvm.com.au
25 May 2007
South African Sponsor to GVM
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 25/05/2007 13:38:01 Produced by the JSE SENS Department.
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