GIP Gippsland

    RNS Number : 6151X
  Gippsland Limited
  27 June 2008
   


    27 June 2008

    GIPPSLAND LIMITED

    PLACING OF SHARES


    Gippsland Limited (ASX & AIM: "GIP") today announces  that it has completed a placing of 12,655,553 million fully paid ordinary shares
("Placing Shares") to UK institutional investors at a price of 4.5 pence (approximately 9.35 Australian cents) per ordinary share to raise
the sum of UK�569,500 (approximately A$1,172,515) before costs and expenses ("Placing"). The Placing was undertaken by the Company's joint
UK brokers Seymour Pierce Limited and Fox-Davies Capital Limited. 

    The Placing Shares will rank pari passu with all existing fully paid ordinary shares in the Company. Application has been made for the
Placing Shares to be admitted to trading on AIM and the Australian Stock Exchange with trading expected to commence on 1 July 2008. The
total number of ordinary shares on issue following admission will be 306,354,325.

    The funds raised under the Placing will be used for working capital purposes and for the further development of the Company's 40 million
tonne Abu Dabbab tantalum-tin project.

    RJ (Jack) Telford
Executive Chairman
    Gippsland Limited
    www.gippslandltd.com 

    For further information please contact:

 Jack Telford
 Gippsland Limited
 T: +61 8 9340 6000
 E: jtelford@gippslandltd.com  

 Jane Stacey                          Richard Hail
 Investor Relations                   Fox-Davies Capital Limited 
 M: +44 792 292 3306                  T: +44 20 7936 5200
 E: jane@conduitpr.com                E: richard.hail@fdcap.com 

 Ed Portman                           John Gilbert
 Investor Relations                   Fox-Davies Capital Limited
 M: +44 792 292 3307                  T: +44 20 7936 5200
 E: ed@conduitpr.com                  E: john.gilbert@fdcap.com 

 Warrick Hazeldine                    Nandita Sahgal
 Investor Relations                   Seymour Pierce Limited
 M: +61 417 944 616                   T: +44 20 7107 8000
 E: whazeldine@purplecom.com.au       E: nanditasahgal@seymourpierce.com 

 Matthew Thomas                       Asa Bridle
 Seymour Pierce Limited               Seymour Pierce Limited
 T: +44 20 7107 8000                  T: +44 20 7107 8000
 E: matthewthomas@seymourpierce.com   E: asabridle@seymourpierce.com 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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