May 7 (Reuters) - Troy Resources Ltd TRY.AX :
* RECEIVED COMMITMENTS IN RESPECT OF PRIVATE PLACEMENT OF 89 MILLION SHARES ISSUED AT 8.5 CENTS PER SHARE TO RAISE ABOUT $7.57 MILLION
* SHARES TO BE ISSUED AT 8.5 CENTS PER SHARE, AND WILL RAISE ABOUT $7.57 MILLION
* OF SHARES TO BE PLACED, MAJORITY TO BE ISSUED TO M&G INVESTMENTS, M&G WILL BECOME CO'S LARGEST SHAREHOLDER WITH ABOUT 12.6% STAKE