Troy Resources NL
ASX : TRY
TSX : TRY

Troy Resources NL

December 04, 2009 02:15 ET

Troy Resources NL: Entitlements Issue-Under Subscriptions

PERTH, WESTERN AUSTRALIA--(Marketwire - Dec. 4, 2009) - Troy Resources NL (TSX:TRY)(ASX:TRY) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

ASX Limited
Company Announcement Office
Level 4, 20 Bridge Street
Sydney NSW 2000

Dear Sir/Madam

The Directors of the Company are pleased to advise that the Entitlements Issue closed on 1 December 2009 with Eligible Shareholders taking up 9,533,391 New shares, representing 77% of the Entitlements Issue raising $19,066,782.00 (before costs).

The response from Eligible Shareholders on the Australian Register, primarily based in Australia, New Zealand and the United Kingdom was particular pleasing at 85%. A significant portion of Shareholders on the Canadian Register were not entitled as they were Residents of The United States of America. Permitted United States of America Resident holders have been offered a placement on similar terms.

2,916,399 New shares representing the Entitlements Issue shortfall will revert to the underwriters, Argonaut Capital Limited, Bell Potter Securities Limited and Euroz Securities Limited raising a further $5,832,798 (Before costs).

It is anticipated that the allotment and issue of New Shares and the despatch of holding statements to Eligible Shareholders will take place on Monday, 7 December 2009.

The funds raised will be deployed towards advancing the Company's Casposo Project in Argentina.

Yours faithfully

David R Sadgrove, Company Secretary and Chief Financial Officer

ABN 33 006 243 750

Contact Information

  • Troy Resources NL
    David R Sadgrove
    Company Secretary and Chief Financial Officer
    (61 8) 9481 1277
    (61 8) 9321 8237 (FAX)
    Email: troy@troyres.com.au
    Website: www.try.com.au