Mining Investments Resources PLC Issue of Equity and Directorate Change (0230F)
17 Maggio 2013 - 2:54PM
UK Regulatory
TIDMMIR
RNS Number : 0230F
Mining Investments Resources PLC
17 May 2013
Mining Investment Resources Plc
("MIR" or the "Company")
Issue of Equity and Board Changes
PLACING
The Company is pleased to announce that it has successfully
completed a placing of 50,000,000 new ordinary shares ("Placing
Shares") at a placing price of 1p each. 35,000,000 of the Placing
Shares are being subscribed for cash raising GBP350,000 before
expenses with 15,000,000 being subscribed for by Pavel
Kepezhinskas, a director designate of the Company, to be satisfied
by the transfer of 1,666,667 shares in Amur Minerals Corporation to
the Company. The placing was undertaken by Daniel Stewart &
Company and Peterhouse Corporate Finance.
The issue of Placing Shares to director designate Pavel
Kepezhinskas is deemed a related party transaction under the AIM
Rules for Companies. The independent director (being Stephen
Roberts for the purposes of this transaction), having consulted
with Northland Capital Partners Limited, the Company's Nominated
Adviser, considers the terms of transaction are fair and reasonable
insofar as shareholders of the Company are concerned.
The funds raised by the Company will be used for its on-going
due diligence in respect of two potential investments in Russia,
namely the Primorsky silver project and the Khabarovsk gold
exploration project, both as outlined in previous
announcements.
The Placing Shares represent approximately 39.0 per cent. of the
enlarged issued share capital and will rank parri passu with the
existing ordinary shares. Application will be made for the Placing
Sharers to be admitted to trading on AIM, which is expected to
occur at 8.00 a.m. on 31 May 2013. Following admission, the
Company's issued share capital will be 128,281,120 ordinary shares
with each share carrying the right to one vote. This figure may be
used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
BOARD CHANGES
The Company is also pleased to announce the appointment of
Stephen Lay as a non executive director of the Company. Stephen is
a Mining Engineer with over 30 years experience, including gold and
diamond projects across Russia from exploration through to
exploitation: including Celtic Resources and Archangel Diamond.
The appointment of Pavel Kepezhinskas as an executive director
expected to be completed in the next few weeks pending completion
of applicable paperwork. The Company is also in advanced
discussions with another potential non-executive director. Further
announcements in respect of these appointments will be made as and
when appropriate.
Further information on Stephen Lay
Stephen Lay, aged 57, has been within the past five years, a
director of the following companies;
Past directorships
Layco limited
Kopane Diamond Developments plc
Liqhobong Mining Development Company (pty) Ltd
Mr. Lay confirms that there is no further information to be
disclosed in accordance with the requirements of Schedule Two (g)
of the AIM Rules.
Contact Details
Mining Investments Resources
Michael Nosworthy plc +33 675657274
Mining Investments Resources
Steve Roberts plc 07812043436
Northland Capital Partners
Luke Cairns / Matthew Limited
Johnson (Nomad and Joint Broker) 020 7796 8800
Peterhouse Corporate Finance
John Levinson/ Limited
Lucy Williams (Joint Broker) 020 7469 0930
Jonathan Anderson Investor Relations 07950410680
This information is provided by RNS
The company news service from the London Stock Exchange
END
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