Silver Mines
LSE : SVLP

June 15, 2009 06:17 ET

Issue of Equity

                                                                             Appendix 3B
                                                                  New issue announcement

                                                        Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available.  

Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96.  Origin: Appendix 5.  Amended 1/7/98, 1/9/99, 1/7/2000, 
30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.


Name of entity
Silver Mines Limited

ACN
107 452 942

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1    +Class of +securities issued or to be issued                           Ordinary Fully Paid Shares 
        
2    Number  of +securities issued or to be issued (if known) or 
     maximum number which may be issued                                     5,305,000
        
3    Principal terms of the +securities (eg, if options, exercise price and 
     expiry date; if partly paid +securities, the amount outstanding and 
     due dates for payment; if +convertible securities,
     the conversion price and dates for conversion)                         Listed Ordinary Fully Paid Shares
 
        
4    Do the +securities rank equally in all respects from the date of
     allotment with an existing +class of quoted +securities?               Yes

If the additional securities do not rank equally, please state:

- the date from which they do

- the extent to which they participate for the next dividend, (in the case of a trust,
  distribution) or interest payment

- the extent to which they do not rank equally, other than in relation to the next dividend,
  distribution or interest payment    
                    

5    Issue price or consideration         3.5 cents per share
                    
6    Purpose of the issue    
    (If issued as consideration for
     the acquisition of assets,
     clearly identify those assets)       Working Capital/ Exploration Expenditure
                    
7    Dates of entering +securities into
     uncertificated holdings or despatch
     of certificates                      10 June 2009
     
                    
                                                   Number       +Class
8    Number and +class of all +securities 
     quoted on ASX (including the securities
     in clause 2 if applicable)                48,802,500      Fully Paid Ordinary Shares  
     
                                               17,320,000      Listed Options, exercise 
                                                               price 20 cents, expiring 30 Nov 2009 
                                                                
    
                                                   Number      +Class
9    Number and +class of all +securities not 
     quoted on ASX (including the securities
     in clause 2 if applicable)                 2,000,000      Listed Options, exercise 
                                                               price 25 cents, expiring 30 Nov 2009  
                                                  
                                                  300,000      Unlisted Options
                                                  
                   
10   Dividend policy (in the case of a trust, 
     distribution policy) on the increased 
     capital (interests)                           N/A
    

Part 2 -  Bonus issue or pro rata issue
    
    
11        Is security holder approval required?            
                    
12        Is the issue renounceable or non-renounceable?        
                    
13        Ratio in which the +securities will be offered        
                    
14        +Class of +securities to which the offer relates        
                    
15        +Record date to determine entitlements        
                    
16        Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?        
                    
17        Policy for deciding entitlements in relation to fractions            
                    
18        Names of countries in which the entity has +security holders who will not be sent new issue documents    
          
            Note: Security holders must be told how their entitlements are to be dealt with.    
            
            Cross reference: rule 7.7.        
                    
19        Closing date for receipt of acceptances or renunciations        
                    
20        Names of any underwriters        
                    
21        Amount of any underwriting fee or commission        
                    
22        Names of any brokers to the issue        
                    
23        Fee or commission payable to the  broker to the issue        
                    
24        Amount of any handling fee payable to brokers who lodge acceptances or renunciations on 
          behalf of +security holders
                    
25        If the issue is contingent on +security holders' approval, the date of the meeting        
                    
26        Date entitlement and acceptance form and prospectus or Product Disclosure Statement will
          be sent to persons entitled
                    
27        If the entity has issued options, and the terms entitle option holders to participate on exercise, 
          the date on which notices will be sent to option holders        
                    
28        Date rights trading will begin (if applicable)        
                    
29        Date rights trading will end (if applicable)        
                    
30        How do +security holders sell their entitlements in full through a broker?        
                    
31        How do +security holders sell part of their entitlements through a broker and accept for the balance?
                    
    
32        How do +security holders dispose of their entitlements (except by sale through a broker)?
                    
33        +Despatch date            
    
    
Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities
    
34        Type of securities     (tick one)    

(a)                Securities described in Part 1
                    
    
(b)                All other securities    

Example: restricted securities at the end of the escrowed period, partly paid 
securities that become fully paid, employee incentive share securities when restriction ends, 
securities issued on expiry or conversion of convertible securities
    
    

Entities that have ticked box 34(a)
    
Additional securities forming a new class of securities
    
    
Tick to indicate you are providing the information or documents                
    
35     If the +securities are +equity securities, the names of the 20 largest holders of the additional 
       +securities, and the number and percentage of additional +securities held by those holders
                    
36     If the +securities are +equity securities, a distribution schedule of the additional +securities 
       setting out the number of holders in the categories    
                      
             1 - 1,000    
             1,001 - 5,000    
             5,001 - 10,000    
             10,001 - 100,000    
             100,001 and over
                    
37           A copy of any trust deed for the additional +securities
    
    
Entities that have ticked box 34(b)
    
    
38          Number of securities for which +quotation is sought        
                    
39          Class of +securities for which quotation is sought        
                    
40          Do the +securities rank equally in all respects from the date of 
            allotment with an existing +class of quoted +securities?
    
            If the additional securities do not rank equally, please state:
            
            - the date from which they do
            
            - the extent to which they participate for the next dividend, (in the case of a trust, distribution)
              or interest payment
            
            - the extent to which they do not rank equally, other than in relation to the next dividend, 
              distribution or interest payment    
        
41    Reason for request for quotation now 

      Example: In the case of restricted securities, end of restriction period
      (if issued upon conversion of another security, clearly identify that other security)    

        
                                                             Number              +Class
42    Number and +class of all +securities quoted on ASX 
      (including the securities in clause 38)         

Quotation agreement

1    +Quotation of our additional +securities is in ASX's absolute discretion.  ASX may quote the +securities on any 
     conditions it decides.  

2    We warrant the following to ASX.

    - The issue of the +securities to be quoted complies with the law and is not for an 
      illegal purpose.

    - There is no reason why those +securities should not be granted +quotation.

    - An offer of the +securities for sale within 12 months after their issue will
      not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.  

      Note: An entity may need to obtain appropriate warranties from subscribers for the
      securities in order to be able to give this warranty

    - Section 724 or section 1016E of the Corporations Act does not apply to any 
      applications received by us in relation to any +securities to be quoted and that
      no-one has any right to return any +securities to be quoted under sections 737, 738
      or 1016F of the Corporations Act at the time that we request that the +securities be quoted.

    - If we are a trust, we warrant that no person has the right to return the +securities 
      to be quoted under section 1019B of the Corporations Act at the time that we request 
      that the +securities be quoted.

3    We will indemnify ASX to the fullest extent permitted by law in respect of any claim,
     action or expense arising from or connected with any breach of the warranties 
     in this agreement.

4    We give ASX the information and documents required by this form.  
     If any information or document not available now, will
     give it to ASX before +quotation of the +securities begins. 
     We acknowledge that ASX is relying on the information and documents.
     We warrant that they are (will be) true and complete.


Sign here:     ......................................................    Date:    9 June 2009
                              (Director/Company Secretary)

Print name:     Kevin Martin Lynn

+ See chapter 19 for defined terms.

Contact Information

  • Silver Mines