New South Wales zinc and lead miner Perilya has announced the completion of a $45.5 million share placement to Zhongjin Lingnan, China’s third largest zinc producer.
Perilya has reportedly completed the issue of 197,672,000 fully paid ordinary shares in Perilya at an issue price of $0.23 per share, to Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd, to acquire 50.1% of the Company.
The company has advised that the their Board has been restructured, following the issue of the shares to Zhongjin Lingnan, to reflect Zhongjin Lingnan’s majority shareholding.
Accordingly, Messrs Shuijian Zhang, Minzhi Han and Wen Wang have been appointed to the Board (following shareholder approval) as Non-Executive Directors and Karen Field and Phil Lockyer have retired as Non-Executive Directors.
The company’s Chairman, Patrick O’Connor, has expressed his thanks to Perilya shareholders, the Board and management on the completion of this significant transaction.
He also thanked outgoing Directors, Karen Field and Phil Lockyer for their contributions to Perilya during what has been a challenging period.