Hi Niks,Ann this morning re subscriptionsHIGHLIGHTS NSL raises...

Hi Niks,

Ann this morning re subscriptions

HIGHLIGHTS
NSL raises $10 million through re-compliance listing, including full take-up of $3 million oversubscription provision
Funds raised will support development of Indian iron ore business, including existing mining operations, completion of acquisitions and exploration programs
Strong demand from institutional investors and existing shareholders
_________________________________________________________
NSL Consolidated (ASX: NSL) is pleased to announce the close of its prospectus offer with subscriptions received in excess of the 35,000,000 shares ($7m) on offer and full take-up of the additional 15,000,000 shares ($3m) reserved for oversubscriptions, for a total raising of $10 million.
Managing Director Cedric Goode said the subscriptions demonstrated strong interest from investors in being involved in the start-up phase of NSLs Indian iron ore business.
The offer attracted particular interest from institutions, providing NSL with a strong share registry to support its growth, as well as from existing shareholders through both the priority and general offer.
The positive response from existing retail and institutional shareholders, as well as new investors, gives us great confidence in our strategic approach to the Indian iron ore industry, Mr Goode said.
Confirmation of allotment and despatch will be advised to ASX in due course in accordance with the Listing Rules.
For more information please contact
Cedric Goode Sarah Browne
NSL Consolidated FD Third Person


Cheers,

HZ