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FERRUM CRESCENT LIMITED - Issue of shares

Release Date: 10/12/2014 09:00
Code(s): FCR     PDF:  
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Issue of shares

FERRUM CRESCENT LIMITED
(Incorporated and registered in Australia
and registered as an external company in
the Republic of South Africa)
(Registration number A.C.N. 097 532 137)
(External company registration number 2011/116305/10)
Share code on the ASX: FCR
Share code on AIM: FCR
Share code on the JSE: FCR ISIN: AU000000FCR2
("Ferrum Crescent" or "the Company")


Issue of Shares

Ferrum Crescent, the ASX, AIM and JSE Limited (“JSE”) quoted iron ore developer today
announces that it has today issued and allotted 30,684,576 new shares (the “Share Issue”).
The Share Issue consists of 21,525,819 ordinary shares issued by way of placement of
shortfall shares pursuant to the terms of the rights issue announced on 9 October 2014 and
9,158,757 ordinary shares issued pursuant to the terms of the Director and Senior
Management Fee and Remuneration Sacrifice Share Plan (“Plan”). The issue price for the
shares was AU$0.008 per share for the shortfall shares and AU$0.0187 for the shares
issued under the terms of the Plan. The total number of shares on issue is now 518,787,353
(the “Enlarged Share Capital”).

Included within the Share Issue were the following:

   -   6,529,442 shares under the Plan to Ed Nealon, who now holds 1,100,000 fully paid
       ordinary shares pursuant to the Ferrum Crescent employee share plan and
       25,641,557 fully paid ordinary shares;
   -   1,602,423 shares under the Plan to Grant Button, who now holds 900,000 fully paid
       ordinary shares pursuant to the Ferrum Crescent employee share plan and
       1,638,423 fully paid ordinary shares, as well as 3,217,877 fully paid ordinary shares
       (held as trustee for the Wilberforce Trust); and
   -   19,350,819 shortfall shares to Grassroots Exploration Pty Ltd (held by Alan Jenks),
       which now holds 77,505,870 shares.



Accordingly, as a result of the Share Issue, the relevant Directors of Ferrum Crescent are
now interested in the following shares:

Director                       Shareholding                   % of Enlarged Share Capital

Ed Nealon                      33,270,999                     6.41

Grant Button                   5,756,300                      1.11



In addition, Alan Jenks is now interested in 77,505,870 Ordinary Shares representing
14.94% of the Enlarged Share Capital.
The share subscription by Alan Jenks, a substantial shareholder in the Company, and the
shares issued under the Plan to Ed Nealon and Grant Button, Directors of the Company, are
related party transactions as defined by the AIM Rules for Companies. Accordingly the
Independent Directors (being Messrs Tom Revy, Klaus Borowski, Kofi Morna and Ted
Droste) consider that, having consulted with its Nominated Adviser, the terms of the rights
issue and associated ability for shareholders to take up additional shares, as well as the
terms of the Plan, are fair and reasonable insofar as shareholders are concerned.

Application for the new Share Issue shares, which will rank pari passu with existing ordinary
shares in the Company, to be admitted to AIM and the JSE has been made and trading is
expected to commence on 15 and 17 December 2014, respectively.

For more information, please visit www.ferrumcrescent.com or contact:

Australia enquiries:
Ferrum Crescent Limited
Tom Revy T: +61 8 9367 5681
Managing Director

UK enquiries
Ferrum Crescent Limited
Laurence Read (UK representative)
T: +44 7557672432
RFC Ambrian Limited (Nominated Adviser)
James Biddle/Andrew Thomson
T: +44 (0) 20 3440 6800

South Africa enquiries:
Sasfin Capital
Sharon Owens T: +27 11 809 7500


10 December 2014

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

Date: 10/12/2014 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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