St Barbara Limited (SBS) has announced a 1-for-3.1 pro-rata accelerated non-renounceable entitlement offer of new fully paid ordinary shares in St Barbara at an offer price of $2.89 to raise approximately $490 million. The Entitlement Offer is underwritten. The proceeds of the Entitlement Offer are intended to be used to partially fund the acquisition by St Barbara of Atlantic Gold Corporation by way of a court-approved Canadian plan of arrangement.

The Entitlement Offer comprises an institutional component (Institutional Entitlement Offer) and a retail component (Retail Entitlement Offer), as announced on Wednesday, 15 May 2019.

Under the Retail Entitlement Offer, Eligible Retail Shareholders are being offered the opportunity to subscribe for 1 New Share for every 3.1 existing fully paid ordinary shares in St Barbara held at 7.00pm (AEST) on Friday, 17 May 2019 (Record Date), at the Offer Price of $2.89 per New Share, which is the same price as paid by the institutional investors who participated in the Institutional Entitlement Offer.

The Offer Price of $2.89 per New Share represents an approximate 13% discount to the closing share price of $3.32 on Tuesday, 14 May 2019 and a 10.1% discount to the theoretical ex-rights price (TERP) of A$3.22 as at Tuesday, 14 May 2019.

For more information, please see www.stbarbara.com.au