| Fri 14 Sep 2007, 17:05 | | PZG - Pamodzi Gold - Successfully completes capita |
|
PZG
PZG
PZG - Pamodzi Gold - Successfully completes capital raising and further
cautionary announcement
Pamodzi Gold Limited
(Incorporated in the Republic of South Africa)
(Previously Bema Gold SA (Proprietary) Limited)
Registration number 2002/013039/06
JSE Code: PZG ISIN: ZAE000088563
("Pamodzi Gold" or "Company")
PAMODZI GOLD SUCCESSFULLY COMPLETES CAPITAL RAISING AND FURTHER CAUTIONARY
ANNOUNCEMENT
Pamodzi Gold is pleased to announce that it has successfully completed the
private placement of 6,255,165 new and existing Pamodzi Gold ordinary shares at
a placing price of R15.00 per Pamodzi Gold ordinary share, equating to, in
aggregate, a total cash consideration of R93,827,475.
The proceeds will be used to meet certain capital development objectives, for
both its current operations and for the Orkney business (which Pamodzi Gold will
be taking operational responsibility for from 1 October 2007) and to settle
certain financial obligations of a third party shareholder.
The new shares will, when issued, be credited as fully paid Pamodzi Gold
ordinary shares and will rank pari passu in all respects with the existing
Pamodzi Gold ordinary shares. Application will be made for the new shares to be
admitted to trading on the JSE Limited. Admission, settlement and commencement
of dealings are expected to take place on or about 25 September 2007.
Shareholders are advised to continue to exercise caution in dealing in their
shares until a further announcement regarding the acquisition of the Orkney
assets and the President Steyn mine is released.
Johannesburg
14 September 2007
Merchant bank and sponsor
Rand Merchant Bank, a division of FirstRand Bank Limited
Bookrunner
RMB Morgan Stanley
Date: 14/09/2007 17:05:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
