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Published

Rights Issue – Extension of Key Dates

Rights Issue – Extension of Key Dates

To ensure that Australian shareholders are not adversely affected by the New Zealand Queen’s Birthday statutory holiday on 2 June the rights issue has been extended from 3 June to 6 June.

The revised timetable is set out below:

Closing Date (last day for receipt of the completed Entitlement and Acceptance Form with payment and last day for renunciations) Friday 6 June 2014 5.00pm (NZ time) and 3.00pm (AEST)

Shortfall notified to the NZX and the ASX Thursday 12 June 2014

Allotment and Issue of New Shares and dispatch of holding certificates (Issue Date) Friday 13 June 2014

Quotation of New Shares Monday 16 June 2014

These dates are subject to change, New Talisman reserves the right to amend this timetable, subject to the Listing Rules and all applicable laws, including by extending the Closing Date. New Talisman reserves the right to withdraw the Offer and issue New Shares at any time before the Issue Date in its absolute discretion.

Sue Sangster
Company Secretary
+64 9 303 1893

Published

Mail Out Offer Document

New Talisman advises that the Rights Issue Offer Document and the individual Entitlement and Acceptance Forms are being mailed to shareholders today.
Eligible shareholders are entitled to subscribe for one new share for every two shares held at the record date of 7.00 pm (NZ time) on Friday 9 May 2014.
Eligible shareholders who accept their entitlement in full may also apply for an additional number of shares through the oversubscription facility, and provision for this is made on the Entitlement and Acceptance Form.

Download SX Release 14 May 2014

Published

Rights Issue

New Talisman advises that it intends to make a rights issue offer to existing shareholders in Australia and New Zealand of one new share for every two shares held at the Record Date on payment of NZ$0.008 or AU$0.008 per new share. The pricing of such rights issue offer represents a significant discount to shareholders (being an approximate 38% discount on the NZX 5 day VWAP).

New Talisman intends to use the proceeds from the Offer to initiate production at the Talisman Mine and fund general working capital. 565,883,501 shares are currently on issue and up to 282,941,751 New Shares can be issued.

The offer is intended to be made in New Zealand under the ‘same class quoted products’ regime introduced on 1 April 2014 and in Australia under the similar regime under s 708AA Corporations Act 2001.

New Talisman will be releasing its preliminary financial results before the record date for the issue. It intends to release the Offer Document for the issue to the market on or about 6 May 2014, together with the “cleansing notices” required by the New Zealand ‘same class’ and the equivalent Australian legal regime.

Important dates for the issue are:

Rights trading commences on the ASX Wednesday 7 May 2014
Rights trading commences on the NZX Main Board Wednesday 7 May 2014
Record Date for determining Entitlements 7.00pm (NZ time), Friday 9 May 2014
Opening Date Monday, 12 May 2014
Expected dispatch of Prospectus enclosing the Entitlement and Acceptance Forms Wednesday 14 May 2014
Rights trading ends on the ASX 7.00pm (NZ time) and 5.00pm (AEST), Monday 26 May 2014
Rights trading ends on the NZX Main Board 5:00pm (NZ time) and 3:00pm (AEST), Tuesday 27 May 2014
Closing Date (last day for receipt of the completed Entitlement and Acceptance Form with payment and last day for renunciations) 5.00pm (NZ time) and 3.00pm (AEST), Tuesday 3 June 2014
Allotment and issue of New Shares and Options and dispatch of holding certificates (Issue Date) Tuesday 10 June 2014

 These dates are subject to change and are indicative only. New Talisman reserves the right to amend this timetable, subject to the Listing Rules and all applicable laws, including by extending the Closing Date. New Talisman reserves the right to withdraw the Offer and issue New Shares at any time before the Issue Date in its absolute discretion.

Application has been made for permission to quote the Rights on the NZX Main Board and all the requirements of NZX Limited (NZX) relating thereto that can be complied with on or before the date of this announcement have been duly complied with. The new shares have been accepted for quotation by NZX and will be quoted upon completion of allotment procedures. NZX accepts no responsibility for any statement in this announcement. NZX Main Board is a registered market operated by NZX, which is a registered exchange under the Securities Markets Act 1988 (New Zealand).

Application will also be made to quote the Rights on the Australian Securities Exchange (ASX), and for quotation of the new share on ASX. However ASX Limited accepts no responsibility for any statement in this announcement. ASX is not regulated under New Zealand law.

   Download SX Release 30 April 2014 Rights Issue

 

 

 

 

 

Published

Talisman Mine Financing Offer Accepted

New Talisman Gold Mines Limited announced today that it has accepted an offer of a structured financing facility for the Talisman Mine project. The terms of the acceptance letter signed by NTL provide for A$1.6M of an A$2M converting note facility to be advanced subject to satisfaction of certain conditions, including entering into satisfactory security and other facility documentation. The converting note provides for NTL at its sole discretion to either:

1) Upon repayment of 30% of the loan Convert 70% of the loan to equity at the end of the 12 month period, or

2) Repay the loan in full, or

3) Upon repayment of 30% of the loan, roll the loan over the remaining 70% for a further 12 month term.

The funds drawn down from this facility will be applied to the Talisman mine bulk sampling project and working capital requirements. NTL anticipates the $1.6M will be sufficient capital to allow NTL to initiate the bulk sampling program outlined to shareholders at the 2013 AGM. The bulk sampling project provides for the first cash flows from New Talisman’s mining operations and will allow NTL to be cashflow positive within 12 months from the start of bulk sampling operations which are expected to begin in the second half of 2014.

Under the terms of the accepted offer NTL expects to be in a position to execute documentation and have access to the funds within 30 days. NTL will announce the detailed terms of the facility once documentation has been executed.

Executive Director Matthew Hill said, “In a very difficult climate for junior miners’ particularly gold-related juniors, NTL is particularly pleased to have been able to attract an offer to finance the development of the Talisman mine through to first production. It is an indication of the very attractive investment proposition the Talisman mine represents. We remain on track to reopen the Talisman Mine; historically a highly productive, high grade gold mine in one of the most productive gold mining areas in NZ and our transition from developer to producer status is nearly complete. We are mindful that our shareholders have indicated a strong interest to participate in the funding of Talisman and the board is currently reviewing options to allow such participation.”        

 Download SX Release 28 April 2014 Financing Offer Accepted