Bannerman BMN share purchase plan 2x oversubscribed

Announcement:

Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.

Perth, Australia – 24 June, 2009 – Bannerman Resources Limited (ASX: BMN, TSX: BAN,
NSX: BAN) (“Bannerman”), an Australian-based uranium mine development and exploration company, advises that its Share Purchase Plan (“SPP”) has closed as scheduled and has raised the maximum stipulated amount of A$7.5 million. The SPP concludes the final component of Bannerman’s previously-announced equity financing program to raise gross proceeds of A$37.5 million, which included a share placement of A$30 million to institutional and sophisticated investors in Canada, Hong Kong and Australia.

The SPP offer closed at 5.00pm Perth time (5.00am Toronto time) on Tuesday, 23 June 2009.
Applications for approximately A$15.5 million worth of new Bannerman fully paid ordinary
shares were received from eligible shareholders. Accordingly, applicants will be issued shares on a scaled back basis with the maximum amount of applications in aggregate limited to 7.5 million shares at an issue price of A$1.00 (C$0.875) per share, raising total proceeds of A$7.5 million.

Leave a Reply

Your email address will not be published. Required fields are marked *