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ASX queries Padbury's $106m raising plans

Padbury Mining has again attracted regulatory attention, with the company acknowledging it should have notified the ASX when it negotiated potential capital raisings worth $106 million with a Hong Kong-based investor last year.

The ASX sent notice to Padbury last week asking the company to explain why statements in its annual report, released December 19, mentioned a proposed $2 million and $98 million placement to Hong Kong investment group Zhongying Property Development Company (ZYPD) but wasn’t disclosed to the Australian bourse when discussions were entered into in June.

In response, Padbury said it felt it would have been misleading the market by announcing the deal prior to it being completed.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Share Transactions

04/07/12
$6k Bought
Total value as at the date of the transaction
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Revenue

th-AustSino Resources Group$53k
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from AustSino Resources Group

1580thWilliam Han$50k
Ranked by total remuneration from all listed WA companies

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