26 Aug 2011 09:18

Scotgold Resources Limited (AIM/ ASX:SGZ)
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NON-RENOUNCEABLE RIGHTS ISSUE
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The Directors of Scotgold Resources Limited ("Scotgold" or the "Company") are pleased to announce that the Non-Renounceable Rights Issue closed on 23 August 2011 with eligible shareholders applying to take up 87% of the Rights Issue.
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The Company advises that it received entitlement acceptances for 15,474,829 shares (48%) from eligible shareholders, together with applications for additional shares of 12,706,797 (39%).
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The Company will allocate the shortfall shares in the manner described in Section 1.5 of the Offer Document.
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Funds raised from the rights issue totaled $1,409,000.
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It is anticipated that the allotment and issue of shares, and despatch of holding statements will take place on 31 August 2011.
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The Company is pleased with the level of shareholder support and thanks the shareholders who participated in the rights issue.
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Yours faithfully
P J Newcomb
Company Secretary
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