report herewith
D Y E S O L L T D A C N 1 1 1 7 2 3 8 8 3 1 1 A u r o r a A v e n u e Q u e a n b e y a n , N S W 2 6 2 0 T : + 6 1 - 2 6 2 9 9 1 2 5 0 F : + 6 1 - 2 6 2 9 9 1 6 9 8 ASX Release – 3 November 2006 C O M P L E T I O N O F P L A C E M E N T The Directors of Dyesol Limited are pleased to confirm the completion of a placement to institutions and sophisticated investors of 8.33 million shares at $0.60 per share to raise $5 million, before costs of the issue. Dyesol is gratified by the strong show of support for the Company and its management team, and the endorsement of the Company’s global growth strategy The funds raised will be used to accelerate the implementation of the strategy to be the preferred and dominant global supplier of dye solar cell (“DSC”) products and services. Initially, this will enable the Company to respond to an unprecedented demand for Dyesol products and solutions. Dyesol intends to significantly increase its materials manufacturing capacity at its Queanbeyan plant to meet requirements from its international customers and partners. The accreditation programme for DSC building integrated panels will also be accelerated to enable earlier introduction of the design into international markets. In parallel, development of advanced manufacturing equipment for turnkey facilities will be brought forward. Finally, the Company will expand technological and business resources to meet the growth of licensed and collaborative product development projects. The Company looks forward to reporting its progress to its highly valued shareholders as its business plan is implemented. Authorised by: Mrs Sylvia Tulloch Managing Director Appendix 3B New issue announcement + See chapter 19 for defined terms. 24/10/2005 Appendix 3B Page 1 Rule 2.7, 3.10.3, 3.10.4, 3.10.5 Appendix 3B New issue announcement, application for quotation of additional securities and agreement Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public. Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005. Name of entity DYESOL LIMITED ABN 92 111 723 883 We (the entity) give ASX the following information. Part 1 - All issues You must complete the relevant sections (attach sheets if there is not enough space). 1 +Class of +securities issued or to be issued Shares 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued 8,333,333. 3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion) Ordinary fully paid shares. Appendix 3B New issue announcement + See chapter 19 for defined terms. Appendix 3B Page 2 24/10/2005 4 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment Yes. 5 Issue price or consideration $0.60 per share. 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) The funds raised will be applied towards expansion of the Company’s activities and as additional working capital for the continuing development of the Company. 7 Dates of entering +securities into uncertificated holdings or despatch of certificates To be advised. Number +Class 8 Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable) 42,547,430 6,269,791 Ordinary fully paid shares. Options exercisable at 20 cents each on or before 30 November 2010. Appendix 3B New issue announcement + See chapter 19 for defined terms. 24/10/2005 Appendix 3B Page 3 Number +Class 9 Number and +class of all +securities not quoted on ASX (including the securities in clause 2 if applicable) 33,700,000 12,025,000 Fully paid ordinary shares. Options exercisable at $0.20 each on or before 30 November 2008. 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests) Not Applicable Part 2 - Bonus issue or pro rata issue Questions 11 to 33 Not Applicable Part 3 - Quotation of securities You need only complete this section if you are applying for quotation of securities 34 Type of securities (tick one) (a) Securities described in Part 1 (b) All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities Entities that have ticked box 34(a) Additional securities forming a new class of securities Questions 35 to 37 - Not Applicable Entities that have ticked box 34(b) Questions 38 to 42 - Not Applicable Appendix 3B New issue announcement + See chapter 19 for defined terms. Appendix 3B Page 4 24/10/2005 Quotation agreement 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the +securities on any conditions it decides. 2 We warrant the following to ASX. • The issue of the +securities to be quoted complies with the law and is not for an illegal purpose. • There is no reason why those +securities should not be granted +quotation. • An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act. Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty • Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted. • If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted. 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement. 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete. Sign here: .......................................................... Date: 3 November 2006 (Company secretary) Print name: Kim Hogg == == == == ==
GSL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held