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31 Mar 2016

Clayton Utz advises Joint Lead Managers on Western Areas Limited's A$60m equity raising

Perth, 31 March 2016: Clayton Utz has advised Macquarie Capital (Australia) Limited and Morgan Stanley Australia Securities Limited, as joint lead managers, bookrunners and underwriters in connection with the A$60 million placement by ASX-listed Perth based Western Areas Limited, announced to the market on 31 March 2016.

Perth Corporate Advisory/M&A partner Mark Paganin and special counsel James Clyne led the Clayton Utz team, which included lawyer Matt Bourke.

The raising comprises a fully underwritten A$60 million institutional share placement to institutional and sophisticated investors, undertaken via institutional bookbuild with an underwritten floor price of A$1.95 per share. Western Areas' equity raising will also comprise a non-underwritten A$10 million share purchase plan.

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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.