News: NCZ New Century Resources Launches ESG Focused Growth Transaction

Oct 27 (Reuters) - New Century Resources Ltd (NCZ) :

• LAUNCHES ESG FOCUSED GROWTH TRANSACTION
• TRANSACTION INCLUDES A STRATEGIC INVESTMENT BY SIBANYE STILLWATER LIMITED
• INVESTMENT FORMS BASIS OF A THREE-TRANCHE EQUITY RAISE, INVOLVING A PLACEMENT TO SIBANYE-STILLWATER & INSTITUTIONAL INVESTORS
• LAUNCH OF EQUITY RAISING INCLUDING UPFRONT PLACEMENT AND 1 FOR 4 FULLY UNDERWRITTEN NON-RENOUNCEABLE ENTITLEMENT OFFER
• MMG ENVIRONMENTAL BOND TO BE REPLACED WITH TRADITIONAL ENVIRONMENTAL BOND FACILITY FROM ARGO GROUP AND MACQUARIE BANK
• NEW EBF REMOVES EFFECTIVE CASH LOCK-BOX MECHANISM, UNLOCKING SIGNIFICANT SHORT TERM CASH FLOW AND GREATER FINANCIAL FLEXIBILITY
• NEW SHARES OFFERED UNDER PLACEMENT WILL BE ISSUED AT A FIXED PRICE OF A$0.155 PER NEW NEW CENTURY SHARE
• SIBANYE-STILLWATER HAS AGREED TO ACQUIRE A 19.99% POSITION IN CO, INVESTING UP TO US$46 MILLION
• EQUITY RAISING COMPRISES OF US$24.8 MILLION PLACEMENT, UNDERWRITTEN, 1 FOR 4 ENTITLEMENT OFFER OF US$35.2 MILLION
• TO ISSUE 212.4 MILLION NEW SHARES UNDER PLACEMENT, SIBANYE-STILLWATER TO SUBSCRIBE FOR UP TO 139.6 MILLION NEW SHARES

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