Genesis Minerals Limited ('Genesis' or the 'Company') (ASX: GMD) is pleased to advise that it has successfully closed the bookbuild for the Company's A$275 million conditional placement ('Placement'), as announced on Monday, 12 December 2022. The Placement comprises the issue of approximately 229.2 million new Genesis shares ('New Shares') (representing 56% of Genesis' existing shares on issue) and was conducted at an offer price of A$1.20 per share ('Offer Price'), representing a 0.4% premium to the last closing price of A$1.195 per share prior to the Placement1. The Placement is conditional on Genesis shareholders approving the issue of New Shares under the Placement and the Scheme of Arrangement between Genesis and St Barbara to form Hoover House ('Scheme') and St Barbara's Demerger of Phoenician Metals ('Demerger') becoming effective. The New Shares will rank pari passu with existing Genesis shares and will be issued prior to the record date of the Scheme, with the result that the New Shares will be exchanged for St Barbara shares under the terms of the Scheme. The Placement was cornerstoned by AustralianSuper2, Resource Capital Fund VII L.P. and other institutional investors including Paradice Investment Management, Australian Capital Equity and Eley Griffiths Group.
Genesis Managing Director, Raleigh Finlayson, said:
'We are very pleased with the level of support shown by shareholders of both Genesis and St Barbara for the conditional Placement, with the strong demand received representing a clear endorsement of the proposed combination. By combining with St Barbara, we are creating Hoover House, the premium Australian gold company we envisaged, with sustainable, high-quality production.' 'The Placement will ensure balance sheet strength and flexibility for both Hoover House and Phoenician Metals post the Scheme and Demerger, and will allow Hoover House to progress organic growth opportunities across Gwalia and Tower Hill, supporting the path to +300koz pa gold production from Leonora.'3 Trading in Genesis shares is expected to resume on the ASX from market open today (Wednesday, 14 December 2022
Further Information
Further details of the Placement, including other conditions to the Placement, are set out in the investor presentation jointly lodged by Genesis and St Barbara to the ASX on Monday, 12 December 2022. The investor presentation contains important information including key risks of investing in Genesis and foreign selling restrictions with respect to the Placement. In relation to the Placement, Genesis' financial adviser is Sternship Advisers and its legal adviser is Thomson Geer. Euroz Hartleys Limited and Canaccord Genuity (Australia) Limited are acting as co-advisers to Genesis on the transaction. This announcement is approved for release by Raleigh Finlayson, Managing Director of Genesis. For further information, visit: www.genesisminerals.com.au or please contact
Contact:
Investors and Media
Troy Irvin
Genesis Minerals
T: +61 8 9323 9050
E: investorrelations@genesisminerals.com.au
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