Business
Issue of Equity
Issue of Equity.
About this update from Steppe Cement Ltd
[{"type":"text","content":"\n Steppe Cement Limited\n30 January 2006\n\n\nSteppe Cement Ltd\nUS$21 million Share Placing Completed\n\nSteppe Cement Ltd ('the Company') is pleased to announce it has placed 14\nmillion new shares at an issue price of US$1.50 each, raising a total of US$21\nmillion.\n\nThe proceeds will be used to fund the equity component of the cost of expanding\nthe Company's cement production capacity, which was announced during December\n2005.\n\nThe placing was made primarily to institutional investors through the Company's\nbroker, Westhouse Securities LLP ('Westhouse'). The placing is subject to the\nplacing agreement between the Company and Westhouse becoming unconditional and\nnot being terminated prior to the issue of the shares.\n\nDealing in the placement shares is expected to commence on 3 February 2006 and\nsubsequent to the issue of the placing shares the Company will have a total of\n114 million shares on issue.\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1293,"tagName":"div"}]