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This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

Pallinghurst Resources Ltd – RESULTS OF RIGHTS OFFER

HAMILTON, Bermuda – 23 July, 2012 - In a filing with the Bermuda Stock Exchange (“BSX”) dated 11 April, 2012, Pallinghurst Resources Limited (the “Company”; Ticker: PALLRES.BH), announced the results of the Company’s recent Rights Offering.

 

Shareholders of Pallinghurst are referred to the announcement released on the Securities Exchange News Service of the JSE Limited on Monday, 11 June, 2012 and published in the South African press on Tuesday, 12 June, 2012 ("Rights Offer Announcement"), setting out the terms of the renounceable rights offer of new Pallinghurst Ordinary Shares ("Rights Offer Shares") at a subscription price of ZAR2.24 per Rights Offer Share as proposed by Pallinghurst ("Rights Offer").

              

The Rights Offer closed on Friday, 20 July, 2012 and the Board of Directors of Pallinghurst is pleased to advise that the results of the Rights Offer are as follows:   

 

  • Shareholders and their renouncees subscribed for 254,860,560 Rights Offer Shares under their rights entitlement;
  • Furthermore, shareholders and their renouncees filed excess applications for 29,788,211 Rights Offer Shares in addition to their rights entitlements; increasing the total applications for Rights Offer Shares to 284,648,771;
  • All applicants were successfully allocated the requested Rights Offer Shares in full; and
  • The Shareholders and their renouncees have paid for all the allocated Rights Offer Shares in full.

The custody accounts of holders of dematerialised Pallinghurst Ordinary Shares, who have followed their rights, or their renouncees, will be updated and their accounts at their Central Securities Depository Participant ("CSDP") or broker credited with the Rights Offer Shares and debited with any payment due, today.

 

The custody accounts of holders of dematerialised Pallinghurst Ordinary Shares, or their renouncees, who have been allocated Rights Offer Shares in their excess applications, will be updated and their accounts at their CSDP or broker credited on Wednesday, 25 July, 2012. 

 

Share documentation will be posted to holders of BSX shares, or their renouncees, who have been allocated Rights Offer Shares, including excess applications, today.


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Mr. Alex Conyers

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