NON-RENOUNCEABLE RIGHTS ISSUE

RNS Number : 1024N

Scotgold Resources Ltd

26 August 2011

 



Scotgold Resources Limited (AIM/ ASX:SGZ)

NON-RENOUNCEABLE RIGHTS ISSUE

The Directors of Scotgold Resources Limited ("Scotgold" or the "Company") are pleased to announce that the Non-Renounceable Rights Issue closed on 23 August 2011 with eligible shareholders applying to take up 87% of the Rights Issue.

The Company advises that it received entitlement acceptances for 15,474,829 shares (48%) from eligible shareholders, together with applications for additional shares of 12,706,797 (39%).

The Company will allocate the shortfall shares in the manner described in Section 1.5 of the Offer Document.

Funds raised from the rights issue totaled $1,409,000.

It is anticipated that the allotment and issue of shares, and despatch of holding statements will take place on 31 August 2011.

The Company is pleased with the level of shareholder support and thanks the shareholders who participated in the rights issue.

Yours faithfully

P J Newcomb

Company Secretary

 

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