Placement Secures Approximately AU$1.08 million on July 30, 2024

Oldfields Holdings Limited (ASX:  OLH) has successfully raised approximately AU$1.08 million by placing 12,303,183 fully paid ordinary shares at an issue price of 8.75 cents per share. The placement involved existing shareholders, primarily Clear Port AUS Pty Ltd, which will now hold around 5.5% of the Company, and another private shareholder.

The funds raised will be utilized for debt reduction, inventory management, and ordinary working capital needs. The shares will be issued without requiring shareholder approval, leveraging the Company's placement capacity under ASX Listing Rule 7.1, and will rank equally with existing shares. The Managing Director has approved this announcement.

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