Killara completes private placement
Wednesday, November 7 2012 - 11:02 AM WIB
ASX-listed Killara Resources Limited recently stated it has completed a placement of 5 million shares to a strategic investor at $0.09 each, totalling $450,000. This placement is the first of two equal tranches, with the second placement taking place at the end of the month.
This allow the strategic investor to join the company's share register.
"(Killara) is very excited about this strategic alliance with the Indonesian business family, which has substantial business interests in Indonesia spanning palm oil and coal mining, with more than twenty years expertise in the palm oil business and extensive hands-on experience in coal mining. The investor has a wide local network including financial investors, strong relationships with local authorities and government, and ties to the community," the company said in a statement to the ASX, not clearly stating which Indonesian business family it refers to.
The placement was performed under the company?s 15% placement capacity.
Editing by Er Audy Zandri