Last checked at 18 Mar 2013 07:00
Monday 18 March 2013
THOR MINING PLC
Thor Mining PLC ("Thor" or the "Company")
Issue of Shares and Appendix 3B
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) today released the following announcement on the Australian Securities Exchange ("ASX") as required under the listing rules of the ASX.
The announcement relates to the proposed issue of shares under an Open Offer to be released to all shareholders on 18 March 2013.
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, 04/03/13
Name of entity |
Thor Mining PLC |
ARBN |
121 117 673 |
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 be issued
| CHESS Depositary Interests corresponding to Ordinary fully paid Shares (CDI) and Options over CDIs exercisable for one CDI each at a price of AUD0.0105 and expiring 30 September 2014 (CDI Option). |
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2 | Number of +securities issued or to be issued (if known) or maximum number which may be issued
| Up to a maximum of 450,000,000 CDIs with up to a maximum of 225,000,000 free attaching CDI Options. |
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3 | Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion) | Up to a maximum of 450,000,000 CDIs pursuant to an offer to existing shareholders and CDI holders at AUD0.0067 per CDI, with one free attaching CDI Option for every two shares or CDIs subscribed for under the offer (each exercisable for one CDI at a price of AUD0.0105 and expiring 30 September 2014.
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4 | Do the +securities rank equally in all respects from the +issue date 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 | The CDIs rank equally with all other CDIs on issue.
There are currently no options on issue in the same class as the CDI Options, but the CDIs issued upon exercise of the CDI Options will rank equally with existing CDIs on issue. |
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5 | Issue price or consideration
| AUD0.0067 per CDI Nil issue price for CDI Options. |
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6 | Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)
| To fund exploration and evaluation of the Company's projects, including the Molyhil Tungsten-Molybdenum project, the Spring Hill Gold project and the Dundas Gold project; evaluation of new exploration opportunities and for the general working capital requirements of the Company. | |||
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6a | Is the entity an +eligible entity 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 | Yes | |||
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6b | The date the security holder resolution under rule 7.1A was passed | 27 November 2012 | |||
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6c | Number of +securities issued without security holder approval under rule 7.1 | 48,216,566 being:
a) 47,542,856 issued on 14 November 2012; and
b) 673,700 issued on 4 February 2013. | |||
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6d | Number of +securities issued with security holder approval under rule 7.1A | Nil | |||
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6e | Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)
| Nil | |||
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6f | Number of +securities issued under an exception in rule 7.2 | Nil | |||
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6g | If +securities issued under rule 7.1A, was issue price at least 75% 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. | N/A | |||
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6h | If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements | N/A | |||
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6i | Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements | Refer attached Annexure 1 | |||
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7 | +Issue dates Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B. | 29 April 2013 (this date is indicative and may be subject to change). | |||
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Number | +Class | ||||
8 | Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable)
| 897,429,689
225,000,000 | Ordinary Shares quoted by ASX ("THR" as CDIs)
1.05 cent CDI Options expiring on 30 September 2014
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| Number | +Class | |
9 | Number and +class of all +securities not quoted on ASX (including the +securities in section 2 if applicable)
| 456,669,934
8,000,000
1,000,000
1,000,000
4,000,000
1,100,000 | Ordinary Shares admitted to AIM
4 cent Unlisted Options expiring 24 November 2013
5 cent Unlisted Options expiring 20 December 2013
3.5 cent Unlisted Options expiring 13 June 2014
2 pence Unlisted Options expiring 21 June 2015
2 cent Unlisted Options expiring 27 September 2015 |
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10 | Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests) | No policy | |
Part 2 ‑ Pro rata issue - Not Applicable
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)
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(a) | +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 | |
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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 | |
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37 | A copy of any trust deed for the additional +securities |
Entities that have ticked box 34(b)
38 | Number of +securities for which +quotation is sought
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39 | +Class of +securities for which quotation is sought
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40 | Do the +securities rank equally in all respects from the +issue date 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 |
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41 | Reason for request for quotation now Example: In the case of restricted securities, end of restriction period
(if issued upon conversion of another +security, clearly identify that other +security)
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Number | +Class | |||
42 | Number and +class of all +securities quoted on ASX (including the +securities in clause 38)
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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 is not available now, we 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 18 March 2013.......................
Company secretary
Print name: Allan Burchard
Appendix 3B - Annexure 1
Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities
Introduced 01/08/12 Amended 04/03/13
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 securities on issue 12 months before the +issue date or date of agreement to issue | (As at 18 March 2012) 700,853,766 |
Add the following: • Number of fully paid +ordinary securities issued in that 12 month period under an exception in rule 7.2 • 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 |
(Options/Warrants converted) 9,529,301
Issued 04/07/2012 44,400 000 (approved 27/05/2012) Issued 13/06/2012 51,100,000 Issued 02/10/2012 50,000,000 (Each approved 31/10/2012) |
Subtract the number of fully paid +ordinary securities cancelled during that 12 month period | 0 |
"A" | 855,883,067 |
Step 2: Calculate 15% of "A" | |
"B" | 0.15 [Note: this value cannot be changed] |
Multiply "A" by 0.15 | 128,382,460 |
Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that has already been used | |
Insert number of +equity securities issued or agreed to be issued in that 12 month period not counting those issued: • Under an exception in rule 7.2 • Under rule 7.1A • With security holder approval under rule 7.1 or rule 7.4 Note: • This applies to equity securities, unless specifically excluded - not just ordinary securities • 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 | Placement 04/11/2012 47,542,856 Employee remuneration 04/02/2013 673,700
Options on drawdown of debt facility 58,000,000
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"C" | 106,216,556 |
Step 4: Subtract "C" from ["A" x "B"] to calculate remaining placement capacity under rule 7.1 | |
"A" x 0.15 Note: number must be same as shown in Step 2 | 128,382,460 |
Subtract "C" Note: number must be same as shown in Step 3 | 106,216,556 |
Total ["A" x 0.15] - "C" | 22,165,904 [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" Note: number must be same as shown in Step 1 of Part 1 | 855,883,067 |
Step 2: Calculate 10% of "A" | |
"D" | 0.10 Note: this value cannot be changed |
Multiply "A" by 0.10 | 85,588,306 |
Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used | |
Insert number of +equity securities issued or agreed to be issued in that 12 month period under rule 7.1A Notes: • This applies to equity securities - not just ordinary securities • Include here - if applicable - the 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 | 0 |
"E" | 0 |
Step 4: Subtract "E" from ["A" x "D"] to calculate remaining placement capacity under rule 7.1A | |
"A" x 0.10 Note: number must be same as shown in Step 2 | 85,588,306 |
Subtract "E" Note: number must be same as shown in Step 3 | 0 |
Total ["A" x 0.10] - "E" | 85,588,306 Note: this is the remaining placement capacity under rule 7.1A |
Mick Billing | +61 (0) 8 7324 1935 | Thor Mining PLC | Executive Chairman |
Allan Burchard | +61 (0) 8 7324 1935 | Thor Mining PLC | CFO/Company Secretary |
Gerry Beaney / David Hignell | +44 (0) 20 7383 5100 | Grant Thornton Corporate Finance | Nominated Adviser |
Nick Emerson/ Renato Rufus | +44 (0) 1483 413500 | Simple Investments | Broker |
Alex Walters/ Emma Wigan | +44 (0) 77 7171 3608 +44 (0) 20 7839 9260 | Cadogan PR | Financial PR |