RNS Number : 1408O
Gippsland Limited
02 March 2009
3 March 2009
Gippsland Limited
('Gippsland' or 'the Company')
Placing of Shares
Gippsland is pleased to announce that the Company has raised A$100,000 (circa £45,000) by way of a placing of 4,545,454 fully paid ordinary shares ('Placing Shares') to Australian private investors at a price of A$0.022 (approximately one 1 UK penny) per share .
The Placing Shares will rank pari passu with all existing fully paid ordinary shares ('Ordinary Shares') in the Company. Application has been made for the Placing Shares to be admitted to trading on the Australian Securities Exchange ('ASX') with trading expected to commence on ASX on 6 March 2009.
The Company's Ordinary Shares are currently suspended from trading on AIM following the announcement on 11 February 2009 detailing the resignation of Gippsland's Nominated Adviser. Application has however been made for the Placing Shares to be admitted to trading on AIM, to become effective on restoration of trading in the Company's Ordinary Shares on AIM. The total number of Ordinary Shares in issue following admission will be 327,979,779.
The funds raised via the Placing will be used to augment short term working capital requirements.
RJ (Jack) Telford
Executive Chairman
Gippsland Limited
www.gippslandltd.com
For further information, please contact:
Jack Telford
T: +61 8 9340 6000
E: jtelford@gippslandltd.com
This information is provided by RNS
The company news service from the London Stock Exchange
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