REG - Resolute Mining Ltd - Successful completion of retail entitlement offer

Resolute MiningAnnouncement

07/12/2022 07:01

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RNS Number : 8778I  Resolute Mining Limited  07 December 2022

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

7 December 2022

Successful completion of retail entitlement offer

Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to
announce the successful completion of the retail component (Retail Entitlement
Offer) of its 1 for 1.11 partially underwritten accelerated non-renounceable
pro-rata entitlement offer (Entitlement Offer) of new fully paid ordinary
shares (New Shares), as announced to the ASX on Thursday, 17 November 2022.

The Retail Entitlement Offer closed on Monday, 5 December 2022 and raised a
total of approximately A$46 million at the offer price of A$0.16 per New Share
(Offer Price). This follows the successful completion of the institutional
placement (Placement) and the institutional component of the entitlement offer
(Institutional Entitlement Offer), together the (Institutional Offer). The
results of the Institutional Offer were announced to the ASX on 14 November
2022, which raised approximately A$96 million.

The Retail Entitlement Offer was partially underwritten for a total of $68
million representing 425 million New Shares. Eligible retail shareholders
subscribed for 289 million New Shares under the Retail Entitlement Offer for
approximately A$46 million. This represents a 44% take-up rate by eligible
retail shareholders of available Retail Entitlement Offer shares.  It is
expected that the remaining underwritten amount of approximately 136 million
New Shares or approximately $22 million will be allotted to sub-underwriters
of the Retail Entitlement Offer.

Amount Raised Under the Placement and Entitlement Offer

                                   Shares  Amount

(A$ million)
 Institutional Offer
 Placement                         258     41
 Institutional Entitlement Offer   342     55
 Total Institutional Offer         600     96

 Retail Entitlement Offer
 Retail Entitlement Offer Take-Up  289     46
 Allotted to Sub-underwriters      136     22
 Total Institutional Offer         425     68
 Total Equity Raising              1,025   164

 

New Shares under the Retail Entitlement Offer are expected to be allotted and
commence trading on Monday, 12 December 2022. New Shares issued under the
Offer will rank equally with the Company's existing fully paid ordinary shares
as at their date of issue. Further information regarding the Retail
Entitlement Offer is contained in the Retail Offer Booklet released on
Thursday, 17 November 2022.

Additional Information

Further information concerning the Equity Raising is contained in the Resolute
Investor Presentation released to the ASX and LSE on 10 November 2022 which is
available on the ASX website
(https://www2.asx.com.au/markets/trade-our-cash-market/announcements.rsg) .
Nothing contained in this announcement constitutes investment, legal, tax or
other advice. You should seek appropriate professional advice before making
any investment decision.  Shareholders should note the subsequent changes to
the underwritten amount of the Offer and the use of proceeds as described in
this announcement.

About Resolute

Resolute Mining (ASX/LSE: RSG) is an African gold miner, developer and
explorer with more than 30 years of experience across Australia and Africa. To
date, the company has produced over nine million ounces of gold. It currently
operates the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal.
Resolute's gold production and cost guidance for FY2022 is 345,000oz at an
All-In Sustaining Cost of $1,425/oz.

Through all its activities, sustainability is the core value at Resolute. This
means that protecting the environment, providing a safe and productive working
environment for employees, uplifting host communities, and practising good
corporate governance are non-negotiable priorities. Resolute's commitment to
sustainability and good corporate citizenship has been cemented through its
adoption of and adherence to the Responsible Gold Mining Principles (RGMPs).
This framework, which sets out clear expectations for consumers, investors,
and the gold supply chain as to what constitutes responsible gold mining, is
an initiative of the World Gold Council of which Resolute has been a member
since 2017. The Company is on track to reach full compliance with the RGMPs in
2023.

Contact

 Resolute                                         Public Relations

 James Virgo, GM Finance and Investor Relations   Jos Simson / Emily Moss, Tavistock

 contact@rml.com.au                               resolute@tavistock.co.uk

 +61 8 9261 6100                                  +44 207 920 3150 / +44 7788 554 035

 Australian Media                                 Corporate Broker

 Cameron Morse, FTI Consulting                    Jennifer Lee, Berenberg

 cameron.morse@fticonsulting.com                  +44 20 3753 3040

 +61 433 886 871

 

Authorised by Mr Terry Holohan, Managing Director and Chief Executive Officer

 

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