OZ Minerals (ASX: OZL) says it has been advised by the Australian Securities & Investment Commission's (ASIC) that the corporate regulator's investigation in relation to, amongst other things, the Company's disclosure obligations during the period approximately 1 July 2008 to 31 December 2008 has concluded.

The company said it has been informed that ASIC does not intend to take any further action relating to the second half of 2008.

"ASIC has pointed out that no inference whatsoever should be drawn about any finding of outcome of ASIC's investigation from its decision to discontinue the investigation and it may recommence the investigation if circumstances change such as new information becoming available," OZ said in a statement to the Australian Securities Exchange (ASX).

Shares in OZ closed flat on Friday at $1.72.

Earlier this week, the company announced the issue of 20,446,928 fully paid ordinary shares. The conversion price for the issue of shares was USD0.895 per share. The new shares have been issued under the terms of the Convertible Senior Subordinated Bonds due 2012 as described in the Offering Memorandum dated 13 April 2005.

The issue of the shares is to satisfy conversion notices that have been received in respect of bonds with a total principal value of USD18.3 million, for which 20,446,928 shares have been issued.