Microsoft Word - ASX 6 March 2015 Rights Issue Exceeds Min Sub
Suite 12, 186 Hay Street
Subiaco WA 6008
Australia
t: +61 8 9340 6000 f: +61 8 9340 6060
PO Box 8206
Subiaco East WA 6008
Australia
e: [email protected] w: www.gippslandltd.com
RIGHTS ISSUE SUCCESSFULLY CLOSED
Release Date: 6 March 2015
• Minimum subscription reached
• Over $1,000,000 raised
In December 2014, Gippsland Limited (Gippsland or the Company), announced a non-renounceable pro- rata entitlement issue (Entitlement Issue) to raise up to $1.96 million on the basis of 5 new shares in Gippsland, for every 7 existing shares held at the Record Date, at an issue price of $0.002 per share.
The Company is pleased to advise that acceptances have been received for a total of 473,448,708 shares for proceeds of $946,897.42. Shareholders have also subscribed for a further 48,974,077 shares in respect of shortfall of $97,948.15. A total of 522,422,785 shares have been allotted and the issued capital of the Company is now 1,898,122,866 shares.
Therefore the total amount raised is $1,044,845.57 and the balance of the shortfall is 460,220,130 shares
(for $920,440.26).
The Company would like to acknowledge and thank its shareholders for their support of this issue with the funds raised to be focused on closing the recently announced Abu Dabbab Project financing whilst maintaining its "austerity budget" settings.
Rowan Caren (Company Secretary)
www.gippslandltd.com
T: +61 8 9340 6000
E: [email protected]
1 Rights Issue Completed 6 March 2015