TAW - Tawana - Notice of subscriptions under Rights Issue Release Date: 19/01/2010 09:26:01 Code(s): TAW
TAW - Tawana - Notice of subscriptions under Rights Issue
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
Share code on the Australian Stock Exchange Limited: TAW
("Tawana" or "the Company")
19 January 2010
NOTICE OF SUBSCRIPTIONS UNDER RIGHTS ISSUE
Tawana Resources NL ("Tawana") is pleased to announce the completion of the
1 for 1 pro-rata non-renounceable Rights Issue of up to 262,331,772 fully paid
ordinary shares in the capital of the Company (including provisions for options
exercises) ("New Shares") to Eligible Shareholders (as defined in the Offer
Document) which closed for acceptances at 5pm on Wednesday 13 January 2010.
Tawana received valid acceptances in relation to 151,898,275 New Shares,
representing approximately 67.7% of the total number of New Shares offered to
Eligible Shareholders under the Rights Issue raising $759,491.37. As a result,
the shortfall in the Rights Issue is approximately 32.3% (excluding provisions
for option exercises) representing 72,273,444 ordinary shortfall shares.
As the Rights Issue is fully underwritten, New Shares not applied for under
the Rights Issue will be issued to Cygnet Capital Pty Ltd ("Cygnet Capital")
or its nominees at an offer price of 0.5 cents per share in accordance with
the underwriting agreement between Tawana and Cygnet Capital.
The New Shares under the Rights Issue are expected to be allotted on 20 January
2010 and shareholder statements will be despatched thereafter.
Mr Euan Luff
Tel: +61 3 9224 1000
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 19/01/2010 09:26:01 Supplied by www.sharenet.co.za
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