Gold Road - $A74m Equity Raising Successfully Completed

Gold Road - $A74m Equity Raising Successfully Completed

Gold Road Resources (ASX:GOR) has successfully completed its $74 million capital raising after closing the final component, a $17 million entitlement offer to retail shareholders. The Company received valid applications from eligible retail shareholders for $11 million worth of stock. The offer was underwritten by Macquarie Capital and the remaining $6 million was allocated to various institutional investors who had acted as sub-underwriters.


Highlights

  • Gold Road successfully completes its A$74 million Equity Raising by way of a Placement and 1 for 10 accelerated non-renounceable pro-rata Entitlement Offer
  • Retail Entitlement Offer closed on Monday, 16 May 2016 and raised a total of A$17 million at $0.44 per New Share
  • New Shares under the Retail Entitlement Offer will be allotted on Tuesday, 24 May 2016 and trade on a normal settlement basis on Wednesday, 25 May 2016

Completion of Equity Raising

Gold Road Resources Limited (Gold Road or the Company) is delighted to announce the successful completion of its Retail Entitlement Offer, which completes its Equity Raising as announced on Wednesday, 27 April 2016.

The Retail Entitlement Offer, which closed on Monday, 16 May 2016, raised approximately A$17 million through a 1 for 10 fully underwritten, non-renounceable pro-rata entitlement offer at A$0.44 per New Share.

Gold Road received valid applications from Eligible retail shareholders for a total of approximately A$11 million. The Retail Entitlement Offer was underwritten by Macquarie Capital (Australia) Limited and the remaining A$6 million not taken up by existing shareholders was allocated to various institutional investors who acted as sub-underwriters for the Retail Entitlement Offer.

New Shares issued under the Retail Entitlement Offer will be allotted on Tuesday, 24 May 2016 and will trade on the ASX on a normal settlement basis from Wednesday, 25 May 2016. Holding statements will be despatched on Wednesday, 25 May 2016.

Additional information

Nothing contained in this announcement constitutes investment, legal, tax or other advice. You should seek appropriate professional advice before making any investment decision.

Retail shareholders who have questions relating to the Retail Entitlement Offer should contact Gold Road’s Registrar, Security Transfer Registrars, on +61 8 9315 2333.

To view the full announcement click here.

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