Ineligible Investor Rights Tender Update

Page | 1

__________________________________________________________________________
13 June 2023
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED
(NZX: NTL, ASX: NTL)
FOR IMMEDIATE RELEASE
INELIGIBLE INVESTOR RIGHTS SALE OFFER UPDATE
On 7 June 2023 New Talisman Gold Mines Limited announced an offer for investors to apply
to subscribe for the Ineligible person shares by way of tender. It was noted in that
announcement that NTL Directors are eligible to apply for such shares under the NZX and
ASX Listing Rules. NTL formed this view following legal advice. Subsequently ASX have
made contact with the Company and expressed that they have formed a different view as
follows:
“ASX’s position is that the acquisition of ineligible person securities by any listing
rule 10.11 party (including NTL directors) would contravene ASX Listing Rule
10.11 absent shareholder approval.
In the context of a rights issue, ASX considers the ineligible person securities to
be akin to shortfall securities, and the issue to or acquisition by Listing Rule 10.11
parties absent shareholder approval would result in a breach of Listing Rule
10.11.”
NTL has now instructed its Directors that they are not eligible to participate in the tender
process.
A reminder any applications for Ineligible person shares by way of tender must be received by
5pm (NZST time) on 21 June 2023, and payment will be required within 2 business days of
acceptance of a tender offer.
If not all 1,359,288 shares are bid for then the Company intends to acquire and cancel such
shares for nil consideration (so that all shareholders benefit) subject to compliance with
applicable requirements of the Companies Act 1993, the NZX Listing Rules and ASX Listing
Rules.
Potential applicants for the Ineligible person share tender offer are invited to contact Jane Bell
jane@newtalisman.co.nz ph: +64 21 764 224.
Yours sincerely,

Samantha Sharif
Chair
New Talisman Gold Mines Limited
2b Gibraltar Cres,
Parnell, Auckland 1052
Office +64 9 303 1893
info@newtalisman.co.nz