Silver Mines
LSE : SVLP

September 17, 2009 09:10 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    Listed Ordinary Fully Paid Shares
          
                                            
 2    Number of +securities issued or to be issued    3,200,000
      (if known) or maximum number which may be 
      issued
      
                                            
 3    Principal terms of the +securities (eg, if      Listed Ordinary Fully Paid Shares
      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)

                                            
 4    Do the +securities rank equally in all      
      respects from the date of allotment with an     Yes
      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
                                            
 5    Issue price or consideration                    3.5 cents per share
      
                                            
 6    Purpose of the issue                  
      (If issued as consideration for the             Completion of placement approved 12 June 2009
      acquisition of assets, clearly identify
      those assets)
      
      
      
                                           
 7      Dates of entering +securities into            16 September 2009
        uncertificated holdings or despatch of
        certificates
        
                                            
                                                      Number                    +Class
 8      Number and +class of all +securities          52,697,505                Fully Paid Ordinary Shares
        quoted on ASX (including the securities   
        in clause 2 if applicable)
        
        
        
                                                      17,320,000                Listed Options, exercise price 20
                                                                                cents, expiring 30 Nov 2009
    
                                                      2,000,000                 Listed Options, exercise price 25
                                                                                cents, expiring 30 Nov 2009
                                                                        
                                                      300,000                   Unlisted Options



                                                      Number                    +Class
 9      Number and +class of all +securities not 
        quoted on ASX (including the securities in
        clause 2 if applicable)
        
        
        
                                            
 10     Dividend policy (in the case of a trust, 
        distribution policy) on the increased 
        capital (interests)

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)    x     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:    16 September 2009
                (Director/Company Secretary)

Print name:      Kevin Martin Lynn
                                   



+ See chapter 19 for defined terms.

Contact Information

  • Silver Mines