Clifford Chance

Clifford Chance advises investor consortium on investment in Sundance Resources convertible notes and options

Perth: Leading international law firm Clifford Chance has advised an investor consortium on an investment in convertible notes and options in Sundance Resources Limited.

ASX-listed Sundance Resources is developing the Mbalam-Nabeba Iron Ore Project in central west Africa.

This week the investor consortium completed the investment of a total of A$20 million through a two-year zero coupon convertible note, and also received 60 million options exercisable into Sundance shares in certain circumstances. The investor consortium will receive a further 200 million options subject to shareholder approval at Sundance’s upcoming annual general meeting. Full details are available at www.sundanceresources.com.au.

"We're delighted to have assisted the investor consortium on this deal," said lead partner Paul Vinci. "It was a complex and time sensitive transaction, negotiated in parallel with another investment in Sundance by a strategic investor."

Paul was assisted by senior associates Mark Gillgren and Yung Nguyen and by partner Tracey Renshaw. All are based in Perth.