Confirmation of Dividend Payment
06 October 2010 - 7:13PM
UK Regulatory
TIDMMML
MEDUSA MINING LIMITED
ABN: 60 099 377 849
Unit 7, 11 Preston Street
Como WA 6152
PO Box 860
Canning Bridge WA 6153
Telephone: +618-9367 0601
Facsimile: +618-9367 0602
Email: admin@medusamining.com.au
Internet:www.medusamining.com.au
ANNOUNCEMENT
06 October 2010
CONFIRMATION OF DIVIDEND PAYMENT
Further to the announcement on 1 September 2010, the Directors of Medusa Mining
Limited ("Medusa" or the "Company") are pleased to advise that at the general
meeting of members held this morning the resolution was unanimously passed to
amend the Company's Constitution to remove the restriction that dividends can be
paid only out of profits of the Company.
Accordingly, the Board confirms an unfranked dividend payment of A$0.05 per
share which will be paid out of the Company's operating cash flow, and not out
of the profits of the Company.
The relevant dates for the dividend are as follows:
Dividend Record Date : 15 October 2010
Ex-Dividend Date (ASX and AIM purposes) : 11 October 2010
Ex-Dividend Date (TSX purposes) : 12 October 2010
Dividend Payment Date : 8 November 2010
There is no foreign conduit income attributed to the dividend.
Managing Director, Geoff Davis said:
"It is with a sense of satisfaction that the Board regards today as being a
milestone in the Company's growth as it has become a dividend payer. This is the
culmination of nearly seven years of work since listing in December 2003 as a
small explorer with a market capitalisation of A$5 million. Based on today's
share price in a high gold price environment, the Company has a market
capitalisation of approximately A$1 billion. This is certainly an achievement of
which all stakeholders in Medusa can be proud.
The Company considers the payment of this dividend an appropriate way of
rewarding the loyalty and commitment of its shareholders."
For further information please contact:
Australia
Medusa Mining Limited +61 8 9367 0601
Geoffrey Davis, Managing Director
Roy Daniel, Finance Director
United Kingdom
Fairfax I.S. PLC +44 (0)20 7598 5368
Nominated Adviser/ Broker
Ewan Leggat/Laura Littley
Lothbury Financial Services Limited +44 (0)20 7868 2010
Michael Padley/Libby Moss
Canada
Nicholas Sayce, Investor Relations +1 416 822 4404
[HUG#1449431]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Medusa Mining Ltd via Thomson Reuters ONE
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