Silver Mines

LSE : SVLP


February 18, 2013 11:03 ET

Issue of Equity Amendment

Amended Appendix 3B and Additional Information

Amended Appendix 3B to adjust the number of securities that will be issued under this Appendix 3B per ASX Listing Rule 
7.1 and 71.A (as announced 14 February 2013) and provide further information as set out below. The difference of 
7,917,972 options and the securities placed will be the subject of a shareholder meeting to approve/ratify the 
placement and thus refreshing the Company's ability to raise capital in future under Listing Rule 7.1.

In addition; please find attached further information required under Listing Rule 3.10.5A:

a) Details regarding dilution are as follows:
----------------------------------------------------------------------------
Fully paid ordinary shares on issue prior to most recent         165,887,091
capital raising                                                                    
----------------------------------------------------------------------------
Shares issued as a result of most recent capital raising         27,332,848 
----------------------------------------------------------------------------
Total number of shares in issue                                  193,219,939
----------------------------------------------------------------------------
b) The Company issued the equity securities as a placement under Rule 7.1A and not as a pro-rata issue or other type of
   issue in which existing ordinary security holders would have been eligible to participate as the Company had
   initiated a drilling programme at its Webbs Project in New England, NSW and found that a placement of securities
   was more timely and critical given the timing and funding required for the drilling program.
c) There is no underwriting arrangement, including any fees payable to an underwriter; and 
d) Broker fees of up to 7% will be paid to brokers.

                                                    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 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 
01/08/12

Name of entity                                                              
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Silver Mines Limited                                                      
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ABN                                                                         
---------------------------------------
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   Ordinary and Options                
   be issued                                                                   
                                        ------------------------------------
                                                                            
                                        ------------------------------------
2  Number of +securities issued or to   27,332,848 Fully Paid Ordinary      
   be issued (if known) or maximum      Shares                              
   number which may be issued           5,748,452 Listed Options           
                                        ------------------------------------
                                                                            
                                        ------------------------------------
3  Principal terms of the +securities   Fully Paid Ordinary Shares: and     
   (eg, if options, exercise price and     
   expiry date; if partly paid          Listed Options, exercise price 10   
   +securities, the amount outstanding  cents and expiry 13 November 2013                                    
   and due dates for payment; if                                            
   +convertible securities, the                                             
   conversion price and dates for                                           
   conversion)                                                              
                                        ------------------------------------
                                                                            
                                        ------------------------------------
4  Do the +securities rank equally in   Yes                                 
   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                                                         
                                        ------------------------------------
                                                                            
                                        ------------------------------------
5  Issue price or consideration         $0.047                              
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6  Purpose of the issue                 The issue was as a result of a
   (If issued as consideration for the  placement to professional and 
   acquisition of assets, clearly       sophisticated investors.
   identify those assets)                        
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6a Is the entity an +eligible entity    Yes                                 
   that has obtained security holder                                        
   approval under rule 7.1A? 

   If Yes, complete sections 6b - 6h in                                             
   relation to the +securities the                                          
   subject of this Appendix 3B, and                                         
   comply with section 6i                                                   
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6b The date the security holder         19 November 2012                    
   resolution under rule 7.1A was                                           
   passed                                                                   
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6c Number of +securities issued without 16,681,591 Fully Paid Ordinary; and 
   security holder approval under rule                                      
   7.1                                                                      
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6d Number of +securities issued with    10,651,257 Fully Paid Ordinary and  
   security holder approval under rule  5,748,452 Listed Options            
   7.1A                                                                     
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6e Number of +securities issued with    N/A                                 
   security holder approval under rule                                      
   7.3, or another specific security                                        
   holder approval (specify date of                                         
   meeting)                                                                 
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6f Number of securities issued under an N/A                                 
   exception in rule 7.2                                                    
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6g If securities issued under rule      The securities were issued above 75%
   7.1A, was issue price at least 75%   of the 15 day VWAP.                 
   of 15 day VWAP as calculated under                                         
   rule 7.1A.3? Include the issue date                                        
   and both values. Include the source                                        
   of the VWAP calculation.                                                    
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6h If securities were issued under rule N/A                                 
   7.1A for non-cash consideration,                                         
   state date on which valuation of                                         
   consideration was released to ASX                                        
   Market Announcements                                                     
                                        ------------------------------------
                                                                            
                                        ------------------------------------
6i Calculate the entity's remaining     Nil                                 
   issue capacity under rule 7.1 and                                        
   rule 7.1A - complete Annexure 1 and                                      
   release to ASX Market Announcements                                      
                                        ------------------------------------
                                                                            
                                        ------------------------------------
7  Dates of entering +securities into   25 February 2013                    
   uncertificated holdings or despatch                                      
   of certificates                                                          
                                        ------------------------------------
                                                                            
                                        ------------------------------------
                                        Number            +Class            
                                        ------------------------------------
8  Number and +class of all +securities 193,219,939       Fully Paid        
   quoted on ASX (including the                           Ordinary Shares   
   securities in section 2 if           
   applicable)                          19,888,795        Listed Options    
                                                          exercise price 10 
                                                          cents, expiry 13  
                                                          November 2013     
                                        ------------------------------------
                                                                            
                                        ------------------------------------
                                        Number            +Class            
                                        ------------------------------------
9  Number and +class of all +securities 2,000,000         Unlisted Options  
   not quoted on ASX (including the                       exercise price 40 
   securities in section 2 if                             cents, expiry 27  
   applicable)                                            August 2013. Vest 
                                                          - 27 August 2011. 

                                        8,500,000         Unlisted Options  
                                                          exercise price 50 
                                                          cents, expiry 23  
                                                          December 2015.    
                                        ------------------------------------
                                                                            
                                        ------------------------------------
10 Dividend policy (in the case of a    Unchanged                           
   trust, distribution policy) on the                                        
   increased capital (interests)                                             
                                        ------------------------------------

Part 2 - Bonus issue or pro rata issue

                                        ------------------------------------
11 Is security holder approval          N/A                                 
   required?
                                        ------------------------------------
                                                                            
                                        ------------------------------------
12 Is the issue renounceable or non-    N/A                                 
   renounceable?                                                            
                                        ------------------------------------
                                                                            
                                        ------------------------------------
13 Ratio in which the +securities will  N/A                                 
   be offered                                                               
                                        ------------------------------------
                                                                            
                                        ------------------------------------
14 +Class of +securities to which the   N/A                                 
   offer relates                                                            
                                        ------------------------------------
                                                                            
                                        ------------------------------------
15 +Record date to determine            N/A                                 
   entitlements                                                             
                                        ------------------------------------
                                                                            
                                        ------------------------------------
16 Will holdings on different registers N/A                                 
   (or subregisters) be aggregated for                                      
   calculating entitlements?                                                
                                        ------------------------------------
                                                                            
                                        ------------------------------------
17 Policy for deciding entitlements in  N/A                                 
   relation to fractions                                                    
                                        ------------------------------------
                                                                            
                                        ------------------------------------
18 Names of countries in which the      N/A                                 
   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          N/A                                 
   acceptances or renunciations                                             
                                        ------------------------------------
                                                                            
                                        ------------------------------------
20 Names of any underwriters            N/A                                 
                                        ------------------------------------
                                                                            
                                        ------------------------------------
21 Amount of any underwriting fee or    N/A                                 
   commission                                                               
                                        ------------------------------------
                                                                            
                                        ------------------------------------
22 Names of any brokers to the issue    N/A                                 
                                        ------------------------------------
                                                                            
                                        ------------------------------------
23 Fee or commission payable to the     N/A                                 
   broker to the issue                                                      
                                        ------------------------------------
                                                                            
                                        ------------------------------------
24 Amount of any handling fee payable   N/A                                 
   to brokers who lodge acceptances or                                         
   renunciations on behalf of +security                                     
   holders                                                                  
                                        ------------------------------------
                                                                            
                                        ------------------------------------
25 If the issue is contingent on        N/A                                 
   +security holders' approval, the                                         
   date of the meeting                                                      
                                        ------------------------------------
                                                                            
                                        ------------------------------------
26 Date entitlement and acceptance form N/A                                 
   and prospectus or Product Disclosure                                     
   Statement will be sent to persons                                        
   entitled                                                                 
                                        ------------------------------------
                                                                            
                                        ------------------------------------
27 If the entity has issued options,    N/A                                 
   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   N/A                                 
   applicable)                                                              
                                        ------------------------------------
                                                                            
                                        ------------------------------------
29 Date rights trading will end (if     N/A                                 
   applicable)                                                              
                                        ------------------------------------
                                                                            
                                        ------------------------------------
30 How do +security holders sell their  N/A                                 
   entitlements in full through a                                           
   broker?                                                                  
                                        ------------------------------------
                                                                            
                                        ------------------------------------
31 How do +security holders sell part   N/A                                 
   of their entitlements through a                                       
   broker and accept for the balance?                                              
                                        ------------------------------------
                                                                            
                                        ------------------------------------
32 How do +security holders dispose of  N/A                                 
   their entitlements (except by sale                                       
   through a broker)?                                                       
                                        ------------------------------------
                                                                            
                                        ------------------------------------
33 +Despatch date                       N/A                                 
                                        ------------------------------------

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       N/A                                 
   +quotation is sought                                                     
                                        ------------------------------------
                                                                            
                                        ------------------------------------
39 Class of +securities for which       N/A                                 
   quotation is sought                                                      
                                        ------------------------------------
                                                                            
                                        ------------------------------------
40 Do the +securities rank equally in   N/A                                 
   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 N/A                                 
   
   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 N/A                                 
   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: 14th February 2013
              (Company secretary)

Print name:   Kevin Lynn


                                                     == == == == ==

                                                Appendix 3B - Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A
for +eligible entities

Introduced 01/08/12

Part 1

----------------------------------------------------------------------------
                 Rule 7.1 - Issues exceeding 15% of capital                 
----------------------------------------------------------------------------
Step 1: Calculate "A", the base figure from which the placement capacity is 
calculated                                                                 
----------------------------------------------------------------------------
Insert number of fully paid ordinary       136,106,468 Fully Paid Ordinary  
securities on issue 12 months before date  Shares                           
of issue or agreement to issue                                             
----------------------------------------------------------------------------
Add the following:

- Number of fully paid ordinary securities
  issued in that 12 month period under an  27,890,623 Fully Paid Ordinary
  exception in rule 7.2                    Shares

- Number of fully paid ordinary        
  securities issued in that 12 month                                   
  period with shareholder approval

- Number of partly paid ordinary 
  securities that became fully paid in 
  that 12 month period

Note:
- Include only ordinary securities here - 
  other classes of equity securities
  cannot be added
- Include here (if applicable) the
  securities the subject of the Appendix 
  3B to which this form is annexed
- It may be useful to set out issues of 
  securities on different dates as 
  separate line items                                               
----------------------------------------------------------------------------
Subtract the number of fully paid ordinary Nil                              
securities cancelled during that 12 month                                  
period                                                                     
----------------------------------------------------------------------------
"A"                                        163,997,091 Fully Paid Ordinary  
                                           Shares                           
----------------------------------------------------------------------------
Step 2: Calculate 15% of "A"                                                
----------------------------------------------------------------------------
"B"                                        0.15                             

                                           (Note: this value cannot be      
                                           changed)                         
----------------------------------------------------------------------------
Multiply "A" by 0.15                       24,599,564 Securities            
----------------------------------------------------------------------------
Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that 
has already been used                                                      
----------------------------------------------------------------------------
Insert number of equity securities issued  Options Issued under Share       
or agreed to be issued in that 12 month    Placement Plan on 2 October 2012 
period not counting those issued:          - 6,942,972;

- Under an exception in rule 7.2           Shortfall Fully paid ordinary
                                           Shares Issued in relation to
- Under rule 7.1A                          Share Purchase Plan on 15
                                           November 2012 - 650,000;
- With security holder approval under      
  rule 7.1 or rule 7.4                     Shortfall Options issued in
                                           relation to Share purchase Plan
Note:                                      on 15 November 2012 - 325,000; 
- This applies to equity securities,       and
  unless specifically excluded - not just 
  ordinary securities                      Placement of Fully Paid Ordinary
- Include here (if applicable) the         Shares to Professional and
  securities the subject of the Appendix   Sophisticated Investors on 14 
  3B to which this form is annexed         February 2013 - 16,681,591.
- It may be useful to set out issues of 
  securities on different dates as
  separate line items        
----------------------------------------------------------------------------
"C"                                        24,599,563 Securities            
----------------------------------------------------------------------------
Step 4: Subtract "C" from ("A" x "B") to calculate remaining placement      
capacity under rule 7.1                                                    
----------------------------------------------------------------------------
"A" x 0.15                                 24,599,564 Securities

Note: number must be same as shown in                
Step 2                                                            
----------------------------------------------------------------------------
Subtract "C"                               24,599,563 Securities

Note: number must be same as shown in              
Step 3                                                            
----------------------------------------------------------------------------
Total ("A" x 0.15) - "C"                   Nil       
                       
                                           (Note: this is the remaining     
                                           placement capacity under rule    
                                           7.1)                             
----------------------------------------------------------------------------

Part 2

----------------------------------------------------------------------------
       Rule 7.1A - Additional placement capacity for eligible entities      
----------------------------------------------------------------------------
Step 1: Calculate "A", the base figure from which the placement capacity is 
calculated                                                                 
----------------------------------------------------------------------------
"A"                                        163,997,091 Fully Paid Ordinary
                                           Shares
Note: number must be same as shown in     
Step 1 of Part 1                                                      
----------------------------------------------------------------------------
Step 2: Calculate 10% of "A"                                                
----------------------------------------------------------------------------
"D"                                        0.10                             
                                           
                                           Note: this value cannot be       
                                           changed                          
----------------------------------------------------------------------------
Multiply "A" by 0.10                       16,399,709 Securities            
----------------------------------------------------------------------------
Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that
has already been used                                                      
----------------------------------------------------------------------------
Insert number of equity securities issued  Placement of Fully Paid Ordinary 
or agreed to be issued in that 12 month    Shares to Professional and       
period under rule 7.1A                     Sophisticated Investors on 14th
                                           February 2013 - 10,651,257.
Notes: 
- This applies to equity securities - not  Issue of Options to Professional
  just ordinary securities                 and Sophisticated Investors on
- Include here - if applicable - the       February 2013 - 5,748,452.
  securities the subject of the Appendix 
  3B to which this form is annexed
- Do not include equity securities issued
  under rule 7.1 (they must be dealt with
  in Part 1), or for which specific 
  security holder approval has been 
  obtained
- It may be useful to set out issues of 
  securities on different dates as 
  separate line items                                                     
----------------------------------------------------------------------------
"E"                                        16,399,709 Securities            
----------------------------------------------------------------------------
Step 4: Subtract "E" from ("A" x "D") to calculate remaining placement      
capacity under rule 7.1A                                                   
----------------------------------------------------------------------------
"A" x 0.10                                 16,399,709 Securities

Note: number must be same as shown in                
Step 2                                                            
----------------------------------------------------------------------------
Subtract "E"                               16,399,709 Securities

Note: number must be same as shown in               
Step 3                                                            
----------------------------------------------------------------------------
Total ("A" x 0.10) - "E"                   Nil                              
                                           
                                           Note: this is the remaining      
                                           placement capacity under rule    
                                           7.1A                             
----------------------------------------------------------------------------

+ See chapter 19 for defined terms.

Contact Information

  • Silver Mines