🕐25.09.09 - 11:00 Uhr
Arafura Issues Second Tranche of Shares to ECE Nolans
ASX Announcement
25 September 2009
Arafura Issues Second Tranche of Shares to ECE Nolans
following Shareholder Approval
Arafura Resources Limited (ASX: ARU) ("Arafura") today confirms the
settlement of the second tranche of the share placement to the Australian
subsidiary of the Jiangsu Eastern China Non-Ferrous Metals Investment
Holding Company Limited, ECE Nolans Investment Company Pty Ltd ("ECE
Nolans").
Following receipt of:
· shareholder approval at the Extraordinary General Meeting of
Shareholders on 17 September 2009 for the share issue; and
·cleared funds of A$14,440,000.
Arafura has today issued 36,100,000 fully paid ordinary shares to ECE
Nolans.
The transaction received Foreign Investment Review Board approval
on 29 May 2009 The issue of the second tranche of shares takes ECE Nolans
equity holding in Arafura from 12.7% to 24.86%.
Arafura will use the funds to progress its engineering feasibility study
for the Nolans Rare Earth Project in the Northern Territory.
JEC is a highly strategic and influential partner who will actively work
with Arafura to assist funding and development of the Nolans Project.
The
skills and expertise that JEC brings to Arafura are substantial.
Both
parties have agreed to undertake a philosophy to limit dilution of the
Company shareholding, fund projects, grow our project profile and
ultimately increase shareholder wealth.
To read the full announcmetn click here:
http://esp.gewru.com/download/files/12414/938975/20090925%20-%20Issue%20of%20Second%20Tranche%20of%20Shares%20to%20ECE%20Nolans.pdf
For more information contact:
Alistair Stephens
Managing Director
Arafura Resources
T: +61 8 6210 7666
M: 0421 612 573
Gavin Lockyer
Chief Financial Officer
Arafura Resources
T: +61 8 6210 7666
M: 0419 914 072
Felicity Nuttall
Professional Public Relations
T: +61 8 9388 0944
Arafura Resources
Level 5/16
St Georges Tce
Perth WA 6000
www.arafuraresources.com.au
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