Hi tilerman,This old news. All of the information in todays...

Hi tilerman,


This old news. All of the information in todays announcement has been known to the market and was documented in SBL's announcement on 20/03/2007. Per that announcement it was stated that SBL would complete this placement within 14 days (Business days) from the 20/03/2007 announcement. Please see below and refer to the SBL announcement 20/903/2007.



Today is the 14th business day from the 20/03/2007 announcement. Hence todays announcement is to meet the requirements of the 20/03/2007 announcement. I hope this clarifies your concerns.




Cheers,

Brantley

Section from the SBL 20/03/2007 Announcement

PLACEMENT AND CASH POSITION

The Company intends completing a placement of 50,000,000 ordinary shares at an issue price of 2 cents each to raise $1,000,000 within 14 days of this announcement.

Entities associated with the new directors propose to participate in this placement and this participation will be subject to shareholder approval.

Funds raised will be utilised for working capital and specifically allocated to review and identify projects for investment, acquisition, farm-in or securitisation of the investment. In the event that shareholders do not approve the incentive proposal and participation in the placement then the balance of the funds will be allocated to general working capital.

The Company’s cash position on completion of the placement will be approximately $2.26 million, after costs of the issue.