"takeover possible", page-101

Sounds all good so far!!

Monday 17 October 2011
SUCCESSFUL COMPLETION OF INSTITUTIONAL COMPONENT OF ENTITLEMENT
OFFER
Completion of Institutional Entitlement Offer
Energy Resources of Australia Ltd (ERA) today announced the successful completion of
the institutional component (Institutional Entitlement Offer) of its 12 for 7 accelerated
renounceable entitlement offer (Entitlement Offer) of new ERA ordinary shares (New
Shares) at an offer price of $1.53 per New Share (Offer Price).
Under the Institutional Entitlement Offer, ERA raised approximately $380 million through
the issue of approximately 249 million shares.
The Institutional Entitlement Offer attracted strong demand from ERA’s institutional
shareholders (including Rio Tinto’s participation for its full 68.4% entitlement), with eligible
institutional shareholders electing to take up approximately 99% of the New Shares
available to them as part of the Institutional Entitlement Offer.
As announced on Wednesday 12 October 2011, the net proceeds of the Entitlement Offer
will be used by ERA to fund construction of a Brine Concentrator and other water
management initiatives, construction of the Ranger 3 Deeps exploration decline and
associated drilling, completion of evaluation studies into the development of the Ranger 3
Deeps mine and an expanded exploration program during the period 2012 to 2014
targeting highly prospective areas on the Ranger Project Area.
Approximately 1.9 million New Shares were available for the institutional shortfall
bookbuild, which was conducted from Thursday, 13 October 2011 to Friday, 14 October
2011. The bookbuild was well supported with a clearing price of $2.00 per New Share, a
premium of $0.47 to the Offer Price. Eligible institutional shareholders who elected not to
take up their entitlements in the Institutional Entitlement Offer will receive $0.47 for each
New Share not taken up (net of expenses and any withholdings required by law).