GGG Resources plc

GGG Resources plc

May 05, 2011 04:05 ET

GGG Receives Conditional Approval for Admission to the Official List of ASX

GGG Closes Australian Share Offering to Raise Over AUD$8m

LONDON, UNITED KINGDOM--(Marketwire - May 5, 2011) - Western Australian-focused resources company GGG Resources plc (AIM:GGG) has received formal conditional approval to be admitted to the Official List of the Australian Securities Exchange (ASX).

The Company also successfully closed its Australian share offering at 5pm (WST) on 2 May 2011. Under the offering, GGG accepted applications for a total of 20,075,000 shares at an issue price of AUD$0.40, raising in total AUD$8,030,000.

The Company is currently in the process of fulfilling the conditions to obtain ASX's final approval to be admitted to the Official List of the ASX. Subject to receipt of ASX's final approval, the Company anticipates that the ordinary shares to be issued under GGG's Australian share offering (in the form of CDIs) will commence trading on the ASX by mid-to-late May under the code GGB. Shareholders will be notified of the precise date of the first day's trading on the ASX as soon as this date is confirmed.

Jeff Malaihollo, Managing Director of GGG Resources Plc, said:

"We are delighted with ASX's decision after some unexpected delays. We wish to thank our new Australian shareholders and advisors for their patience and considerable commitment to the Company's vision of developing a major new gold mine at Bullabulling in the Coolgardie Goldfields.

"Upon admission to the Official List of the ASX, the Company will be listed on ASX as well as AIM. We will then be able to offer Auzex shareholders the choice of having the GGG shares they receive, as consideration for the off market takeover offer for Auzex, registered on GGG's Australian share register (and trade those shares, in the form of CDIs on the ASX market) or GGG's United Kingdom share register (and trade those shares on the AIM market).

"The completion of the Company's secondary listing on the ASX will assist us to raise further capital required to fund the development of the Bullabulling Project in both Australia and the UK."

Contact Information

  • Dr. Jeffrey Malaihollo
    MD, GGG Resources plc (UK)
    + 44 1992 531820

    Neil Boom
    MD, Gresham PR Ltd (UK)
    + 44 7866 805 108

    GGG Resources plc (Australia)
    David McArthur
    41 Stirling Highway
    Nedlands, WA 6009, Australia
    +61 8 9423 3200

    Westhouse Securities Limited (UK Nominated Adviser)
    Tom Price / Martin Davison
    + 44 20 7601 6100

    Collins Stewart Europe Limited (Broker)
    John Prior / Adam Miller
    + 44 20 7523 8350

    Professional Public Relations (Australia media)
    David Brook
    +61 8 9388 0944 / +61 433 112 936