ASX ANNOUNCEMENT For immediate release - Australian Securities Exchange (ASX) Dubai International Financial Exchange (DIFX) 1 August 2007
Boulder receives firm commitments for US$ 91 million in Equity Funds for the Seamless Tube Project Boulder’s two major shareholders, companies owned by Messrs Abdul Rahman Falaknaz and Mohammad Yousuf Al Ali, as well as a US-based private equity company have given their firm commitments to participate in a private placement of
Boulder shares on the following terms: • Total capital to be raised: US$ 91 million. • The shares will be issued at a price of US$ 0.80 per share. These equity funds will constitute a major milestone in raising the total financing package for the successful realisation of the company’s Seamless Tube Project consisting of a steel plant, a tube mill and a finishing facility in Ipswich, Queensland, as well as a finishing plant in Sharjah, United Arab Emirates. Details of the commitment letters and signed Application Forms received by Boulder Steel Limited are as follows: • Falak Investments AG (“FIAG”), a Swiss company owned 100% by Mr. Falaknaz. FIAG has agreed to subscribe for 30 million shares @ US$ 0.80/share for a total value of US$ 24 million. • Capital Trust Holding AG (“CTH”), a Swiss company owned 100% by Mr. Al Ali. CTH has agreed to subscribe for 40 million shares @ US$ 0.80/share for a total value of US$ 32 million. • American Overseas Investment Holding (“AOIH”), a US-based private equity company. AOIH has agreed to subscribe for 43,750,000 shares @ US$ 0.80/share for a total value of US$ 35 million.
BOULDER STEEL LIMITED A.C.N 009 074 588 Level 2, 16 Byfield Street, Macquarie Park, NORTH RYDE NSW 2113 Tel: (+ 61 2) 9413 1811 Fax: (+ 612) 9419 2818 PO Box 1293, Macquarie Centre, NORTH RYDE NSW 2113, AUSTRALIA www.bouldersteel.com.au Email: [email protected] For personal
BGD Price at posting:
17.5¢ Sentiment: None Disclosure: Not Held
