Capital Raising Closes

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The minimum capital requirement of $33M was not met when the BCI capital raising closed 5.00pm 31 July 2009. Applications were received for a total of $18.8M in shares (3.7 cumecs or 8275ha).

A shareholders meeting held at Methven on 29 July was attended by over 120 shareholders. The meeting unanimously supported the investigation of a scaled down scheme. If suitable arrangements can be put in place a further prospectus will be released in early September.