Sumatra completes $3.78m subscription deal
Wednesday, August 29 2012 - 12:47 AM WIB
ASX-listed firm Sumatra Copper & Gold Plc said that it has completed an agreement with Provident Capital Partners Pte. Ltd., to raise $3,780,000 through the subscription of 28 million CHESS depository interests over shares (CDIs) at a price of A$0.135 per CDI.
The company said in the statement to ASX that Provident will be granted a call option to subscribe for an additional 40 million CDIs, subject to conditions and shareholder approval.
?Provident is an experienced and well-credentialed Indonesian partner, and we strongly welcome them as a cornerstone investor," Sumatra Managing Director Julian Ford said.
?Their involvement represents a strong vote of confidence in the Company and our projects as we continue to progress our Tembang Gold Project in southern Sumatra.?
Editing by Adianto P. Simamora