Good that the Directors are taking a healthy chunk too...always a good sign.
No one selling either - very tightly held.
Bring on the next news....
8 July 2008
Company Announcements Office
Australian Securities Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
Rialto to Raise $7.3 million in Share Placement
Rialto Energy Limited (ASX: RIA) (¡§Rialto¡¨) is pleased to announce a placement of
22,121,212 ordinary fully paid shares at $0.33 per share to raise gross funds of $7,300,000.
The Lead Manager to the issue is Patersons Securities Limited.
The shares will be placed with significant international and domestic institutions,
sophisticated investors, and also with Rialto¡¦s directors and management team. The
placement will enable the Company to strengthen and diversify its institutional shareholder
base through the introduction of new international funds.
The placement proceeds will be used:
„h to attract and negotiate international growth opportunities, particularly in relation to
Rialto¡¦s International Joint Venture Agreement with Challenger Minerals Inc. (¡§CMI¡¨).
CMI is the wholly owned subsidiary of Transocean Inc., the world¡¦s largest offshore
drilling contractor;
„h to further assess the potential of Rialto¡¦s exploration permits WA-399-P and WA-291-
P in the Carnarvon Basin, offshore Western Australia; and
„h for working capital purposes.
The placement will be made in two tranches. The first tranche, of 3,346,500 shares, is
expected to be allotted on 11 July 2008 under the Company¡¦s 15% placement capacity.
The second tranche, of 18,774,712 shares, which will include the 2 million shares to be
placed with Rialto¡¦s directors and management team, is subject to shareholder approval.
A General Meeting of shareholders is expected to be conducted in late August 2008.
Assuming shareholder approval, allotment of the second tranche of shares will occur
shortly after this date.
Upon quotation of the second tranche of shares, Rialto¡¦s total issued share capital is
expected to be 44,431,212 shares.
Rialto Energy Limited
1186 Hay Street
West Perth WA 6005
GPO Box 2815
Perth WA 6001
ACN 117 227 086
2
Brett Woods, Rialto¡¦s Managing Director, said:
¡§It is exciting for Rialto to get this degree of support for our growth plans from significant
institutional investors, particularly at a time of such strong competition for investment
funds. We are actively searching for quality opportunities and with the support of our
existing shareholders and the new investors, we will be very well placed to negotiate
outcomes that should deliver significant shareholder value¡¨.
For further information please contact:
Mr. Brett Woods
Managing Director
tel: (+61 8) 9486 4700
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