emporer news placement

ASX / MEDIA RELEASE 30 MAY 2006
EMPEROR RAISES A$40 MILLION BY PLACEMENT
Emperor Mines Limited (Emperor) (ASX: EMP) is pleased to announce the placement of 100 million shares at 40 cents per share to raise A$40 million before costs. The placement has been made to international and domestic institutional investors as well as sophisticated retail investors.
This capital raising will enhance the structure of the Emperor share register which is expected to facilitate an improvement in liquidity in the trading of Emperor shares. Emperor is pleased with the increased participation from existing shareholders and welcomes many new shareholders to its register.
The board of Emperor has elected to undertake this placement within the Company’s 15% limit in accordance with ASX Listing Rules. All of the shares to be issued under this placement will rank pari passu with existing ordinary shares.
The capital raised will be used for working capital purposes including:
�� Fund redevelopment plans for the Vatukoula and Tolukuma gold mines;
�� Fund an exploration program on the Company’s extensive tenement holdings in Papua New Guinea and Fiji, and
�� Reduce debt.
The placement has been structured as follows:
• Tranche 1 – comprised of 97.6 million shares; and
• Tranche 2 – comprised of 2.4 million shares placed to Directors of the Company subject to shareholder approval.
It is anticipated that a shareholders meeting will be convened in early July 2006. The Notice of Meeting will be despatched to shareholders shortly.
ABN AMRO Morgans and Bell Potter jointly led this placement for Emperor which has been issued to investors exempted from disclosure under the Corporations law. ANZ Investment Bank acted as financial advisor to Emperor.
For further information please contact:
Brad Gordon
Executive Director &
Chief Executive Officer
Clyde Moore
Executive Director &
Chief Financial Officer
+61 (0) 7 3007 8000
+61 (0) 7 3007 8000
[email protected]
[email protected]
ABN 61 007 508 787
Level 1 WBM Building, 490 Upper Edward Street, Spring Hill QLD 4004
Email: [email protected] Web Site: www.emperor.com.au
FIJI OFFICE
Private Mail Bag, Vatukoula, Fiji Islands
Telephone: +679 668 0477 Facsimile: +679 668 0779