Paternoster Resources PLC Equity Placing (5250S)
26 Giugno 2018 - 8:05AM
UK Regulatory
TIDMPRS
RNS Number : 5250S
Paternoster Resources PLC
26 June 2018
26 June 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR"). IN
ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN
RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE
RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION
AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS
ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN
ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN
RELATION TO THE COMPANY AND ITS SECURITIES
Paternoster Resources plc
("Paternoster" or the "Company")
Equity placing
At the General Meeting of the Company on 8 June 2018,
shareholders approved the necessary authorities to raise additional
funds, should demand from investors arise, to invest in
opportunities that may become available to the Company, given its
arrangement with RiverFort Global Capital Limited ("RiverFort"),
the specialist arranger of funding solutions, primarily to the
natural resources sector. Furthermore, it was anticipated that if
any such new funds were raised this would be done at or around the
prevailing market share price and that an appropriate opportunity
would also be made available to existing shareholders to enable
them to subscribe for new shares in the Company on similar
terms.
Paternoster is therefore very pleased to announce that the
Company has now placed (subject to admission to trading on AIM)
4,500,000,000 new ordinary shares of 0.1 pence each (the "Placing
Shares") at a price of 0.1 pence per share with institutional and
other investors to raise gross proceeds of GBP4,500,000
(the"Placing"). The fundraising was oversubscribed and allocations
were therefore scaled back.
Going forward, the Company will now be working closely with
RiverFort, to invest the funds raised in attractive opportunities
in the natural resources sector.
As part of the Placing, up to GBP180,000 has been allocated to
the Teathers App, which is owned by Teathers Financial plc. This
app will enable qualified retail investors, in particular,
qualifying existing Paternoster shareholders to participate in the
Placing on the same terms as other investors directly involved in
the Placing. In the event that there is an oversubscription through
the Teathers App, preference will be given to applications from
existing shareholders in Paternoster.
The Teathers App is a mobile application designed to give
qualified private investors access to placements and initial public
offerings ("IPOs"), predominantly on the London Stock Exchange AIM
market. To become an onboarded user of the Teathers App, visit the
App Store or Google Play, download the App for free and complete
the account application process. Only onboarded users of the
Teathers App may participate in deals offered through it. Shard
Capital Partners LLP ("Shard Capital") is the broker supporting the
Teathers App and provides the necessary regulatory environment,
including compliance oversight and client identification. Shard
Capital is regulated by the FCA.
Nicholas Lee, Chairman said:
"I am delighted that our strategy to work with RiverFort has
been so well supported by both new and existing investors and we
look forward to working closely with RiverFort going forward to
deploy the funds raised. This is a very significant development for
Paternoster and provides a very clear strategy for the Company for
the future."
Application will be made for the Placing Shares to be admitted
to trading on AIM ("Admission") and it is expected that Admission
will become effective on or around 4 July 2018. The Placing Shares
will rank pari passu with the existing ordinary shares of 0.1 pence
par value each ("Ordinary Shares").
Following the issue of the Placing Shares, the Company will have
6,289,335,226 Ordinary Shares in issue, each share carrying the
right to one vote. The Company does not hold any Ordinary Shares in
treasury. The above figure of 6,289,335,226 Ordinary Shares 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 to their interest in, the
share capital of the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
For more information please contact:
Paternoster Resources plc: +44 20 7580 7576
Nicholas Lee, Chairman
RiverFort Global Capital:
Graham Stirling +44 20 3411 2781
Nominated Advisor:
Beaumont Cornish +44 20 7628 3396
Roland Cornish
Joint Broker:
Shard Capital Partners LLP +44 20 7186 9950
Damon Heath
Erik Woolgar
Joint Broker to the Placing:
WH Ireland +44 207 220 1666
Harry Ansell
Katy Mitchell
James Sinclair-Ford
Joint Broker:
Peterhouse Corporate Finance +44 20 7562 3351
Lucy Williams
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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