D'Aguilar Gold Limited (ASX:DGR) Announce A Share Placement Plan To Raise A$1.5 Million
Brisbane, July 31, 2009 AEST (ABN Newswire) - The Directors of D'Aguilar Gold Limited (ASX:DGR) are pleased to advise their support for an offer received by entities associated with the Managing Director, Mr Nicholas Mather to take up an allotment of 44 million DGR shares at a price of 3.5 cents each to raise A$1,540,000. This allotment, if approved, will take Mr Mather's direct and indirect holding in DGR to approximately 19%.
The funding will provide the D'Aguilar Group with sufficient working capital to meet its next nine (9) months worth of recurring expenses. Additional capital initiatives continue to be pursued in the Group subsidiaries in line with the DGR Group strategy. The Board and Management continue to be confident in the ability of the Group to deliver value to shareholders in relation to its prospective tenements and projects.
The placement of shares to entities associated with a Director must be approved by shareholders in accordance with the Listing Rules. Accordingly, materials are currently being prepared for a general meeting of D'Aguilar shareholders to be held by mid- September 2009.
Contact
Mr Nicholas Mather
Managing Director
Tel: +61-7-3303-0680
Mob: +61-417-880-448
Email: info@daguilar.com.au
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