todays announcement.....Cluff Resources Pacific NLABN 72 002 261...

todays announcement.....
Cluff Resources Pacific NL
ABN 72 002 261 565
Registered Office Postal Address Tele-Communications
1/30 Leighton Place Locked Bag 3355 Tel (612)9482 4655
Hornsby NSW 2077 Hornsby NSW 2077 Fax (612) 9482 4987
Australia Australia Internet www.cluff.com.au
28 November, 2003
The Manager (Companies),
Australian Stock Exchange,
Sydney.
Dear Sir,
UNDERWRITING OF OPTIONS CONVERSION
In accordance with ASX Listing Rule 3.11.3, the Company is pleased to advise that it has
secured an agreement to underwrite the exercise of its listed options up to the value of
$2,000,000.
The options, which are exercisable at 4 cents per share, expire at 5.00pm EST on Wednesday
the 31st of December 2003.
The underwriting, by Kefu Underwriters Pty Ltd, has normal contingencies which allow for
release from the agreement. These inlcude (but are not limited to) outcomes such as
insolvency; a 10% decline in any of the ASX 500 index, the Dow Jones Industrial Average,
and the $US gold price; an outbreak of hostilities; and an actual or projected increase in the
Reserve Bank of Australia’s Official Cash Rate beyond 6%.
The underwriting ensures that the Company will raise at least $2 million, which will be used
to continue its current ruby and diamond exploration and development progams.
A fee of 5% is payable in respect of the underwriting agreement.
For further information please contact:
Scott Enderby on Phone (02) 9482 4655
Email [email protected]
Peter Kennewell on Phone (02) 9482 4655
Yours faithfully,
Peter Kennewell,
Managing Director