RMG 0.00% 0.7¢ rmg limited

Nice post.Kim Hogan and Dalgety have been involved in a lot of...

  1. 928 Posts.
    Nice post.

    Kim Hogan and Dalgety have been involved in a lot of ascent projects including WMT. I noticed the address for Forrest Captial is now Cottesloe WA same as RMG, etc so IMO the name change to Forrest Captial is to do with the street name as before they were on Dalgety St, hence Dalgety Capital lol.

    A bit of history lesson which I'm sure a lot of the long term shareholders remember. Sound a bit similar to now?

    They ceased to be a substanital holder on the 14/03/2007. In the period of 12 February 2007 - 13 June 2007, (when the first acquisition was announced), the price rose to 5.0 cents there was a low of 1.5 cents on the 02 March 2007. (went back to the placement price before rising)


    http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=rmg&timeframe=Y&year=2007

    12 February 2007
    Dear Shareholder

    OFFER OF NEW RMG LIMITED SHARES UNDER A SHARE PURCHASE PLAN
    RMG Limited (RMG) has announced that it is undertaking a share placement(Placement) to parties introduced by Dalgety Capital Pty Ltd (Dalgety).

    The Placement is being undertaken at 1.5 cents per share and will result in the issue of 43,400,000 new
    RMG shares being issued to raise up to $651,000.

    RMG has also announced that it will undertake a Share Purchase Plan for all eligible existing shareholders in conjunction with the Placement to raise up to a further
    $1,275,000.

    Under the Share Purchase Plan, each eligible shareholder may subscribe for additional fully paid ordinary shares in RMG (New RMG Shares) under the terms and the conditions of RMGs Share Purchase Plan (a copy of which is attached to this letter as Annexure A).

    To reward RMGs shareholders for their loyalty and continued support, the Share Purchase Plan has been designed to allow eligible shareholders to subscribe for New
    RMG Shares at 1.5 cents each, being the same price as offered to parties introduced by Dalgety under the Placement. The subscription price of 1.5 cents per share represents a discount of 16% to the volume weighted average price of Ra discount of 16% to the volume weighted average price of RMG shares for the period of 5 days on which sales were recorded prior to the date of this offer.

    The Share Purchase Plan also allows eligible shareholders to acquire the New RMG Shares without brokerage or other costs that would apply to an on-market purchase of shares.

    The funds raised by the Placement of $651,000 and Share Purchase Plan of up to a maximum of $1,275,000 will be used to:

    provide funds for review, acquisition and development of other opportunities, as identified by the Company; and

    meet the administration costs of the Company and general working capital.MG







 
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