Issue of Equity

RNS Number : 1052N

Centamin Egypt Limited

10 February 2009

 



Centamin Egypt Limited ('Centamin' or 'the Company') 

(TSX:CEE, ASX:CNT, AIM:CEY)

CENTAMIN EGYPT LIMITED ANNOUNCES CLOSING OF BOUGHT DEAL OFFERING 

Centamin Egypt Limited is pleased to announce that it has successfully closed the previously announced 'bought deal' offering (the 'Offering') of ordinary shares. The Company has sold to Thomas Weisel Partners Canada Inc. and Cormark Securities Inc., as underwriters, (the 'Underwriters') 106,154,200 ordinary shares, of which 13,846,200 ordinary shares were issued pursuant to the exercise in full on the closing date of the over-allotment option granted to the Underwriters, at Cdn$0.65 per share to raise gross proceeds of Cdn$69,000,230.  

Centamin intends to use the net proceeds of the Offering for the completion of the development and construction of the Sukari Project; underground development; other exploration; and general corporate and working capital purposes.

Application has been made to the AIM Market of the London Stock Exchange ('AIM') for the admission to trading of 106,154,200 ordinary shares to trading on AIM ('Admission'). Admission is expected to occur at 08:00 a.m. on 13 February 2009.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

For Centamin Egypt Limited

Josef El-Raghy

Managing Director/CEO

10 February 2009

For more information please contact:

Centamin Egypt Limited + 61 (8) 9316 2640 Josef El-Raghy  www.centamin.com

Pelham Public Relations + 44 (0) 207 743 6376 Candice Sgroi Mobile: + 44 (0) 7894 462 114

Ambrian Partners Limited + 44 (0) 207 7634 4700 Richard Brown Richard Greenfield

Cautionary Statement

This press release may include forward looking statements within the meaning of securities laws. Forward looking statements involve certain risks and uncertainties, such as market conditions and global political uncertainties, that could cause actual results to differ materially from what is currently contemplated.  The Company disclaims any intention or obligation to update any forward-looking statement even if new information becomes available as a result of future events or for any other reason, except to the extent required by applicable law.  For a more detailed discussion of such risks and other factors, refer to the Company's filings with the Canadian securities regulators available at www.sedar.com.

 

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