10,000,000 new ordinary shares were placed with Newcrest Mining Limited at A $0.25 per share equating to 7.1% of the enlarged equity share capital. Options over a further 10,000,000 shares have also been granted with an exercise price of A$0.38 per share. If fully exercised, Newcrest’s interest in SCG would increase to 13.2%.

SCG, which is incorporated in England and Wales, was established in 2006 to explore for, and develop, gold-silver and copper-gold mineral deposits on the Indonesian island of Sumatra.

Jocelyn Waller, Managing Director of SCG said, “This was part of a broader transaction with Newcrest that required careful cross-referencing. Fox Williams’s advice was invaluable in keeping SUM’s exposure to a minimum”.

Paul Osborne, Head of Corporate at Fox Williams LLP, led the placing and was assisted by senior associate Nick McCarthy.


Register for updates



Portfolio Close
Portfolio list
Title CV Email

Remove All