Key points
- Nautilus Minerals raised total gross proceeds of US$175 million through private placements on the AIM market in the UK and in North America.
- Total shares in issue rose from 82,355,912 to 130,149,618 following the placements.
- Epion Holdings’ stake fell from 19.9% to 16.8%, Anglo American’s from 10.1% to 6.4%, Teck Cominco’s from 9.2% to 5.8%, and Barrick Gold’s from 5.8% to 3.7%.
- The company cancelled 170,000 employee and consultant options and granted 245,000 new options on March 7, 2007 at $4.83 per share.
Following the closings of the previously declared private placements in the United Kingdom on the AIM (Alternate Investment Market) and in North America, under which Nautilus Minerals Inc. raised total gross proceeds of $175-million (U.S.), the shareholdings of its four major shareholders in the issued common shares of the company before and after the private placements are as follows:
Shareholder Shares held % of common % of common
before shares before Shares held shares after
private private after private private
placements placements placements placements
Epion Holdings 16,350,000 19.9% 21,849,109 16.8%
Anglo American
(indirect) 8,333,334 10.1% 8,333,334 6.4%
Teck Cominco 7,575,758 9.2% 7,575,758 5.8%
Barrick Gold 4,783,163 5.8% 4,783,163 3.7%
Total shares
in issue 82,355,912 130,149,618
Both Anglo American, through its wholly owned subsidiary, Taurus Investments SA, and Teck Cominco maintain their previously granted anti-dilution rights in respect of future issuances of the company’s securities while Epion’s anti-dilution rights have now terminated. Barrick has not previously had, and does not currently have, any anti-dilution rights in respect of future issuances of the company’s securities.
David Heydon, chief executive officer of the company, commented: “Following the completion of the $175-million (U.S.) private placements earlier this year, the company is well positioned to execute its business plan. The financings have also introduced a number of leading institutional investors to the company, which has brought a balance of influence to the share register. Teck Cominco maintains a direct project influence with the recent secondment of several of its staff into Nautilus’s project team, along with the commitment to pay $12-million (U.S.) as part of an option to form joint ventures with Nautilus in the future.”
Options
The company has cancelled 170,000 options previously issued to employees and consultants and granted 245,000 options to consultants and employees of the company on March 7, 2007, at a price of $4.83 for a term of three years vesting as to 20 per cent every six months for a period of 30 months starting six months from the date of grant.
