Key points
- The company reserved 500,000 shares for issue to Namibian and South African investors at $4.30 per share.
- Investec Merchant Bank and Simpson McKie James Capel were appointed to act on the company’s behalf.
- Proceeds will fund testing and delineation of the Luderitz Bay discovery, initial orders for the planned mining phase, and working capital requirements.
- The issue is expected to close on February 22 1996.
The company has reserved 500,000 shares for issue to Namibian and South African investors on a private placement basis at $4.30 per share. The company has appointed Investec Merchant Bank and Simpson McKie James
Capel to act on its behalf.
Proceeds will be used to expand the testing and delineation of the company’s Luderitz Bay discovery, to place initial orders preparatory to its planned mining phase, and to supplement its working capital requirement.
The issue is expected to close on February 22 1996.
