NORTHERN MINING LIMITED 
By Announcement to the Australian Stock Exchange
Tuesday, 13 August 2013
N O R T H E R N M I N I N GL I M I T E D
13 August 2013
Further to the Appendix 3B released on 9 August 2013 for the issue of 87,294,881 fully paid Ordinary Shares in a placement to a private investor (Placement); Northern Mining Limited provides the following information required under ASX Listing Rule 3.10.5A.
The dilution effect of the Placement on the existing Shareholder base is as follows: Placement issue under Listing Rule 7.1A (34,917,953 Shares) 8.0%
Placement issue under Listing Rule 7.1 (52,376,929 Shares) 12.0%
Details of the approximate percentage of the Issued Capital held by pre and post Placement Shareholders, following the completion of the Placement are as follows:
Shareholders who did not participate in the Placement | 80.0% |
Shareholders who did participate in the Placement | 0.0% |
Participants in the Placement who were not previously Shareholders | 20.0% |
Northern Mining Limited issued the Shares as a placement under Listing Rule 7.1A as it believed this was the most efficient mechanism for raising funds to meet short term working capital requirements. This offer was considered the most appropriate of the opportunities that were presented for Board consideration.
The Shares issued in the Placement were issued under a Subscription Agreement (refer ASX Announcement dated 9 August 2013) and accordingly, there was no need for an underwriter.
There were no costs associated with the Share Issue other than legal costs incurred for the negotiation and settlement of the Subscription Agreement and regulatory compliance.
PO BOX 1007, SCARBOROUGH WA 6922 : SUITE 24, LEVEL 3, 25 WALTERS DRIVE OSBORNE PARK WA 6016
TELEPHONE (08) 9244 8499 : FACSIMILE (08) 9244 3166
EMAIL admin@northernmining.com.au: WEBSITE www.northernmining.com.au
ABN: 30 113 654 229 : ACN: 113 654 229
ASX CODE: NMI
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