|
|
 | Ridge Resources raises over A$4M; completes acquisition of Cardinal Resources  | |
MENAFN - ProactiveInvestors - Australia
- 30/12/2012
|
|
(MENAFN - ProactiveInvestors - Australia) Ridge Resources (ASX:RID) has raised over 4 million through an underwritten rights issue, paving the way for the completion of the acquisition of Cardinal Resources.
As part of the non-renounceable rights issue, Ridge offered three new shares for every two ordinary shares held as well as a three for two free option, both at a price of 0.20.
The uptake on the offer raised 1.97 million with the shortfall of 2.02 million being underwritten by Azure Capital.
Ridge has completed the allotment of 20,450,576 fully paid ordinary shares and 30,675,869 attached options exercisable on or before 30 June 2014 as part of the rights issue.
It has also allotted and issued 33 million fully paid ordinary shares and 16.5 million attaching options to shareholders of Cardinal; 1,500,000 shares and 750,000 attaching options in full satisfaction of loans made to Cardinal; and 50 each Class A and Class B Performance shares convertible to 100,000 shares upon achievement of certain milestones.
Ridge has proposed future exploration activities at its gold projects in Ghana and Democratic Republic of Congo.
|
| |
|
|
MENA News Headlines
|
 | May 25 2013 | Jet Airways' shareholders Okay 24%-stake sale to Etihad ,MENAFN | | (MENAFN) Jet Airways announced that its shareholders okayed the 24-percent stake sale to Etihad Airways, reported Arabian Business.
Last month, the Abu Dhabi-based carrier announced that it will ... |
| | May 25 2013 | Muscat hotels report 15% jump in Jan-Apr RevPAR ,MENAFN | | (MENAFN) STR Global announced that during the January-April period, hotels in the Omani capital posted a growth of over 15 percent in revenue per available room (RevPAR), reported Arabian ... |
| | May 25 2013 | Marriott's ME, Africa Q1 RevPAR rises 11% ,MENAFN | | (MENAFN) Marriott International, Middle East and Africa, president and managing director, Alex Kyriakidis, stated that the hotel operator's revenue per available room (RevPAR) during the first ... |
| | May 25 2013 | Artists seek global audience at Hong Kong's Art Basel ,AFP | |
(MENAFN - AFP) Having taken five Volkswagen Beetles and compressed them into spheres, artist Ichwan Noor was always going to grab attention at the inaugural Hong Kong Art Basel.
Noor is known in ... |
| | May 25 2013 | Fitch expects Qatar's 2013 GDP to reach 7% ,MENAFN | | (MENAFN) Fitch Ratings stated that in 2013, Qatar's gross domestic product (GDP) is projected to stand at 7 percent, reported Arabian Business.
The agency said that during the period, Qatari banks ... |
| | May 25 2013 | World Bank Grants US $55 Million For Palestinian Development ,Qatar News Agency | | (MENAFN - Qatar News Agency) The World Bank Board of Executive Directors has advised its Board of Governors to authorize the US $55 million replenishment of the West Bank and Gaza Trust Fund. This ... |
| | May 25 2013 | Giant leaps for GCC within economic integration -- experts ,Kuwait News Agency (KUNA) | | (MENAFN - Kuwait News Agency (KUNA)) The GCC achieved giant leaps within the economic integration domain, leading to the increase of capital and commercial exchange, said a number of Bahraini ... |
| | May 25 2013 | Education key to Arab youth empowerment - report ,Kuwait News Agency (KUNA) | | (MENAFN - Kuwait News Agency (KUNA)) The high ambitions and aspirations of Arab youth, who make up the majority of Arab populations, require access to a high quality education to be materialized, a ... |
| | May 25 2013 | USD 224 million SMEs Fund to be established for MENA ,Kuwait News Agency (KUNA) | | (MENAFN - Kuwait News Agency (KUNA)) A fund with a capital base of USD 224 million for financing small and medium enterprises (SMEs) in the Middle East and North Africa (MENA) will soon be ... |
| | May 25 2013 | Design experts discuss new trends at Index seminars ,Khaleej Times | | (MENAFN - Khaleej Times) The Index International Design Exhibition and The Office Exhibition, which close today, have provided the regional interior design and architecture community with an ... |
|  more... |
|
|
|
|
 |
|
|
|
