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PALLINGHURST RELEASES FINALISATION ANNOUNCEMENT REGARDING THE CAPITAL RAISING OF R800 MILLION
HAMILTON, Bermuda - 24 August, 2009 - Pallinghurst Resources (Guernsey) Limited (Ticker: PALLRES.BH) releases an update regarding the Rights Offer announcement made on 11 August, 2009.
Pallinghurst shareholders are referred to the Company's announcement released on the Securities Exchange News Service on Tuesday, 11 August 2009 ("Declaration Data Announcement"), regarding the proposed capital raising of R800 million by way of a renounceable rights offer ("Rights Offer") and are advised that the conditions precedent as set out in the Declaration Data Announcement have now been fulfilled. As a result, the Rights Offer is now unconditional and will be implemented in accordance with the timetable set out in Declaration Data Announcement.
A circular setting out the detailed terms of the Rights Offer will be posted on Monday, 7 September 2009 to shareholders recorded as such in the Company's share register on Friday, 4 September 2009.
BSX Sponsor: First Bermuda Group Limited