Perth, 5 May 2014: Clayton Utz has acted as legal counsel to Forrest Family Investments Pty Ltd (FFI), an Andrew Forrest entity within Minderoo Group, in relation to a proposed $12 million placement of shares in ASX-listed uranium developer Energy & Minerals Australia Ltd (ASX: EMA), announced today. The placement is part of a transaction which will result in a net $36 million balance sheet improvement for EMA.
The proposed placement, which is subject to EMA shareholder and other approvals, will comprise FFI subscribing for 400 million EMA shares at $0.03 per share, and will result in FFI acquiring a relevant interest in approximately 28% of EMA. The placement is scheduled to complete in July.
Clayton Utz Perth corporate partner Mark Paganin and senior associate James Clyne led the firm's team.