"NOT GOOD"ASX Announcement9 July 2008Status of Primebroker...

"NOT GOOD"

ASX Announcement
9 July 2008
Status of Primebroker related holdings in Renison Consolidated Mines NL
Renison Consolidated Mines NL (Renison or Company) discloses the following information in relation to shareholdings that are understood to have been subject to arrangements between shareholders, Primebroker Securities Limited and Chimaera Capital Limited (Primebroker).
1. A director of the Company, Mr Stephen Bizzell has advised the Company that he and parties related to him have margin lending facilities with Primebroker in respect of a total of 139,528,510 Ordinary Shares, 2,241,891 March 2009 Convertible Notes and 8,439,670 Partly Paid Ordinary Shares in the Company. The Company has made enquires of the receiver of Primebroker Securities Limited and of the ANZ to attempt to ascertain if any further securities in the Company are affected by arrangements with Primebroker but has not at this stage received a response to these enquiries. The Company is unaware of any other securities subject to arrangements with Primebroker. Entities related to Mr Bizzell have a further 439,756 Ordinary Shares, 23,620,956 Partly Paid Ordinary Shares, and 5,546 Convertible Notes that are not subject to arrangements with Primebroker.
2. The Company advises that as a result of the appointment of receivers to Primebroker third parties now assert that they have a right to dispose of a number of the securities referred to above (reference ANZ ASX announcement of 8 July.) ANZ has advised that a total of 74,304,074 Ordinary Shares (RSN) and 8,439,670 Partly Paid Ordinary Shares (RSNCH) are subject to an Australian Master Securities Lending Agreement between ANZ and Primebroker and that ANZ is entitled to commence a disposal programme in respect “to some or all of the securities”. The Company is unaware of what constitutes the difference between the securities noted in item 1 above and the number of securities advised by ANZ yesterday as being subject to a right to dispose. The Company is seeking to clarify this matter.
3. Mr Bizzell has contacted the Receiver to Primebroker and ANZ advising of his willingness and ability to repay the facility and redeem the Renison shares under the arrangement.
For and on behalf of the Board
JPK Marshall
Company Secretary