12 Nov 2010

Clayton Utz advises Independence Group on $164.3 million equity capital raising

Perth, 12 November 2010: Clayton Utz has advised Perth based Independence Group NL on its $164.3 million equity capital raising, comprising an underwritten accelerated non-renounceable pro rata entitlement offer and institutional share placement.

The Clayton Utz team was led by Corporate Advisory/M&A partners Mark Paganin and Matthew Johnson.

The proceeds of the offer and placement will be used to partly fund Independence's current estimated share of costs for the Tropicana Joint Venture Project.

The offer was underwritten by Bell Potter Securities Limited.

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