05 May 2014

Clayton Utz advises Forrest Family Investments on $12 million uranium placement

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.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.