30 May 2011 ASX RELEASE Sultan Raises $5.41 million through a Share Placement to Sophisticated and Exempt Investors Details of Placement Sultan Corporation Limited (ASX Code: SSC) is pleased to announce that the Company has completed a placement of 246.1 million shares at 2.2 cents per share to professional and exempt investors to raise a total of $5,414,200 (before costs). Sultan intends to use the capital raised from the placement to fund the acquisition of new projects and provide working capital. Part of this issue of shares (179.2 million), was made under the Company?s 15% capacity in accordance with ASX listing rule 7.1, the balance was issued in accordance with a shareholder approval granted on the 19 May 2011. All the shares were placed to sophisticated and exempt investors under section 708 of the Corporations Act. Following this placement the Company will have 1,444,658,488 ordinary shares on issue. The shares will rank equally in all respects with other fully paid quoted ordinary
SSC Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
