Further to the Company’s announcement on 12 December 2014, the underwriter to the issue, Patersons Securities Limited, has subscribed for total 517,957,503 fully paid ordinary underwritten shortfall shares through its clients.
The proceeds of the Offer will be used to repay outstanding loans, complete both a Preliminary Feasibility Study and the first part of the Bankable Feasibility Study and general working capital requirements.
The total shares on issue following the completion of this shortfall settlement is 993,171,986 shares.
Mr Nic Clift, Managing Director of Celamin, said "This is a remarkable outcome for Celamin in what remains a very turbulent time and challenging funding environment for resources companies. This is testament to the resilience of the long term outlook for phosphate, and the quality and potential of the Chaketma Phosphate Project in particular."
"We can now continue to progress the bankable feasibility study for our Chaketma Phosphate Project, which will be a very significant milestone for the Company."
The Company reserves its rights to place the remaining non-underwritten 126,828,240 fully paid ordinary shares within 3 months of the close of the offer, in accordance with the Shortfall Facility policies and ASX Listing Rules.
Celamin wishes to once again thank the strong support from its shareholder base, and significant support from the underwriter to the Offer, Patersons Securities Limited.
