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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Berkeley Energia Limited | LSE:BKY | London | Ordinary Share | AU000000BKY0 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.25 | 1.37% | 18.50 | 17.50 | 19.50 | 18.50 | 18.50 | 18.50 | 9,322 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 0 | -1.37M | -0.0031 | -109.68 | 151.57M |
TIDMBKY
RNS Number : 9533X
Berkeley Energia Limited
30 November 2017
BERKELEY ENERGIA LIMITED
NEWS RELEASE | 30 November 2017 | AIM/ASX: BKY
Berkeley completes strategic investment of up to US$120m with Oman sovereign wealth fund
Berkeley Energia is pleased to announce that shareholders have voted to approve the strategic investment agreement with the sovereign wealth fund of the Sultanate of Oman.
All Conditions Precedent have been met and the Company has now received the initial US$65 million tranche of funding.
The investment comprises an interest-free and unsecured loan of US$65 million which can be converted into ordinary shares at 50 pence per share upon commissioning of the mine, as well as an options package exercisable at an average price of 85 pence per share contributing an additional US$55 million if exercised.
The receipt of this first US$65 million fully funds the capital costs for production at the Salamanca mine, the only uranium mine under construction in the world today.
With the funding now completed, the Company will award the major construction and mining contracts and commence major earthworks early in the new year.
Mr Deepankar Panigrahi, Investment Manager in the Private Equity division of the State General Reserve Fund ("SGRF") of Oman will join the Board as a Non-Executive Director effective immediately.
Mr Panigrahi has extensive experience across a variety of sectors and geographies covering all stages of the private equity process, including post investment management. Mr Panigrahi holds an Undergraduate and Master's degree in Economics with Distinction and Honours from the University of Michigan followed by an MBA from Cambridge University.
Managing Director, Paul Atherley, commented:
"We are delighted to have now closed the Oman financing transaction, which fully de-risks the capital costs required to bring the Salamanca mine into production. We welcome the Oman fund as a strategic, long term investor and shareholder in the Company and we welcome Mr Deepankar Panigrahi to our Board.
With the funding in place we will now award the main EPC and mining contracts and begin major earthworks in the new year, focusing first on the installation of the crushing circuit.
Spot uranium prices have risen sharply since the announcement in early November by Cameco that it has temporarily suspended production from the McArthur River due to continued uranium price weakness.
Over the coming months, we expect more supply to be removed from global markets as higher cost operations are forced into closure when historical sales contracts roll off.
The Salamanca mine, with some of the lowest operating costs globally, is being constructed at the bottom of the uranium price cycle and when production commences the market is expected to be dominated by US utilities looking to re-contract, who will at the same time be competing with Chinese and Japanese reactor demand."
An Appendix 3B is attached to this announcement.
For further information please contact:
Berkeley Energia Limited +44 20 7478 3900 Paul Atherley, Managing Director info@berkeleyenergia.com Hugo Schumann, Corporate Manager WH Ireland Limited (Nominated Adviser) +44 20 7220 1683 Tim Feather, Director Jessica Cave, Assistant Director Alex Bond, Executive Peel Hunt LLP (Joint Broker) +44 20 7418 8900 Ross Allister Chris Burrows Buchanan +44 207 466 5000 Bobby Morse, Senior Partner BKY@buchanan.uk.com Anna Michniewicz, Account Director
Mr Deepankar Panigrahi (age 38), will join the board as a Non-Executive Director. There are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 of the AIM Rules.
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B
New issue announcement,
application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13
Name of entity Berkeley Energia Limited ------------------------- ABN 40 052 468 569 ---------------
We (the entity) give ASX the following information.
Part 1 -- All issues
You must complete the relevant sections (attach sheets if there is not enough space).
1 +Class of +securities a) Convertible Loan Note issued or to be b) Unlisted Options issued 2 Number of +securities a) Convertible loan note issued or to be convertible into 100,880,000 issued (if known) ordinary shares or maximum number b) 50,443,124 which may be issued 3 Principal terms a) Convertible loan note of the +securities convertible ordinary (e.g. if options, shares at GBP0.50 per exercise price share expiring 30 November and expiry date; 2021 if partly paid b) 10,088,625 Unlisted +securities, the Options exercisable at amount outstanding GBP0.60 each, vesting and due dates on conversion of the for payment; if Convertible Loan Note +convertible securities, and expiring the earlier the conversion of 12 months after vesting price and dates or on 30 November 2022 for conversion) 15,132,937 Unlisted Options exercisable at GBP0.75 each, vesting on conversion of the Convertible Loan Note and expiring the earlier of 18 months after vesting or on 30 May 2023 25,221,562 Unlisted Options exercisable at GBP1.00 each, vesting on conversion of the Convertible Loan Note and expiring the earlier of 24 months after vesting or on 30 November 2023 ---------------------------------- 4 Do the +securities No - not listed rank equally in all respects from the +issue date with an existing +class of quoted +securities? If the additional +securities do not rank equally, please state: * the date from which they do * the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment * the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment ---------------------------------- 5 Issue price or a) GBP0.50 consideration b) Nil - see below ---------------------------------- Purpose of the Proceeds will be used issue to bring the Salamanca (If issued as mine into production 6 consideration and for ongoing working for the acquisition capital requirements of assets, clearly identify those assets) ----------------------------------------------------------- Is the entity Yes an +eligible entity that has obtained 6a security holder approval under rule 7.1A? If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply
with section 6i ----------------------------------------------------------- The date the security 28 November 2017 holder resolution under rule 7.1A 6b was passed ----------------------------------------------------------- Number of +securities Nil issued without security holder 6c approval under rule 7.1 ----------------------------------------------------------- Number of +securities Nil issued with security holder approval 6d under rule 7.1A ----------------------------------------------------------- Number of +securities 151,323,124 - 28 November issued with security 2017 holder approval 6e under rule 7.3, or another specific security holder approval (specify date of meeting) ----------------------------------------------------------- Number of +securities Nil issued under an exception in rule 6f 7.2 ----------------------------------------------------------- If +securities Not applicable issued under rule 7.1A, was issue 6g price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation. ----------------------------------------------------------- If +securities Not applicable were issued under rule 7.1A for 6h non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements ----------------------------------------------------------- Calculate the Rule 7.1 - 38,129,052 entity's remaining Rule 7.1A - 25,444,998 issue capacity 6i under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements ----------------------------------------------------------- 7 +Issue dates 30 November 2017 Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B. Number +Class ------------------------------ --------------------------- Number and +class of all +securities quoted on ASX (including the +securities in 8 section 2 if applicable) 254,534,420 Ordinary shares ------------------------------ --------------------------- Number +Class -------------------------------- ------------------------- Options exercisable at GBP0.15 each on or before 30 June 2018 Options exercisable at GBP0.25 each on or before 30 June 2018 Options exercisable at GBP0.30 each on or before 30 June 2018 Options exercisable at GBP0.40 each on or before 30 June 2018 Options exercisable at GBP0.20 each on or before 30 June 2019 Performance Share Rights subject to various performance conditions to be satisfied prior to relevant milestones or expiry dates 3,500,000 between 31 December 2018 and 31 December 2019 150,000 Convertible loan note with a principal amount of US$65 150,000 million, convertible into 100,880,000 ordinary shares at a conversion 200,000 price of GBP0.50 per share expiring 30 November 2021 3,500,000 Options exercisable at GBP0.60 each,
vesting on conversion 8,610,000 of the Convertible Loan Note and expiring the earlier of 12 months after vesting or on 30 November 2022 100,880,000 Options exercisable at GBP0.75 each, vesting on conversion of the Convertible Loan Note and expiring the earlier of 18 10,088,625 months after vesting or on 30 May 2023 Options exercisable at GBP1.00 each, vesting on conversion 15,132,937 of the Convertible Number and +class Loan Note and of all +securities expiring the not quoted on earlier of 24 ASX (including months after the +securities vesting or on in section 2 if 30 November 9 applicable) 25,221,562 2023. -------------------------------- ------------------------- 10 Dividend policy Not applicable (in the case of a trust, distribution policy) on the increased capital (interests) -----------------------------------------------------------
Part 2 -- Pro rata issue
11 Is security holder Not applicable approval required? --------------- 12 Is the issue renounceable Not applicable or non-renounceable? --------------- 13 Ratio in which Not applicable the +securities will be offered 14 +Class of +securities Not applicable to which the offer relates --------------- 15 +Record date to Not applicable determine entitlements --------------- 16 Will holdings Not applicable on different registers (or subregisters) be aggregated for calculating entitlements? --------------- 17 Policy for deciding Not applicable entitlements in relation to fractions --------------- 18 Names of countries Not applicable in which the entity has security holders who will not be sent new offer documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. --------------- 19 Closing date for Not applicable receipt of acceptances or renunciations --------------- 20 Names of any underwriters Not applicable --------------- 21 Amount of any Not applicable underwriting fee or commission --------------- 22 Names of any brokers Not applicable to the issue --------------- 23 Fee or commission Not applicable payable to the broker to the issue --------------- 24 Amount of any Not applicable handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders --------------- 25 If the issue is Not applicable contingent on security holders' approval, the date of the meeting --------------- 26 Date entitlement Not applicable and acceptance form and offer documents will be sent to persons entitled --------------- 27 If the entity Not applicable has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders --------------- 28 Date rights trading Not applicable will begin (if applicable) --------------- 29 Date rights trading Not applicable will end (if applicable) --------------- 30 How do security Not applicable holders sell their entitlements in full through a broker? --------------- 31 How do security Not applicable holders sell part of their entitlements through a broker and accept for the balance? --------------- 32 How do security Not applicable holders dispose of their entitlements (except by sale through a broker)? --------------- 33 +Issue date Not applicable ---------------
Part 3 -- Quotation of securities
You need only complete this section if you are applying for quotation of securities
34 Type of +securities (tick one) (a) +Securities described in Part 1 (b) All other +securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities
Entities that have ticked box 34(a)
Additional securities forming a new class of securities
Tick to indicate you are providing the information or documents 35 If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders 36 If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37 A copy of any trust deed for the additional +securities
Entities that have ticked box 34(b)
38 Number of +securities Not applicable for which +quotation is sought 39 +Class of +securities Not applicable for which quotation is sought ----------------- 40 Do the +securities Not applicable rank equally in all respects from the +issue date with an existing +class of quoted +securities? If the additional +securities do not rank equally, please state: * the date from which they do * the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment * the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request Not applicable for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another +security, clearly identify that other +security) ----------------- Number +Class --------------- --------- 42 Number and +class of all +securities quoted on ASX (including the +securities in clause 38) --------------- ---------
Quotation agreement
1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
-- The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
-- There is no reason why those +securities should not be granted +quotation.
-- An offer of the (+) securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.
Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty
-- Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
-- If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.
3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.
[lodged electronically without signature]
Sign here: ............................................................ Date: 30 November 2017
(Director/Company secretary)
Print name: Dylan Browne
== == == == ==
Appendix 3B - Annexure 1
Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities
Introduced 01/08/12 Amended 04/03/13
Part 1
Rule 7.1 - Issues exceeding 15% of capital ------------------------------------------------------------------------------------------ Step 1: Calculate "A", the base figure from which the placement capacity is calculated ------------------------------------------------------------------------------------------ Insert number of fully paid +ordinary securities on issue 12 months before the +issue date or date of agreement to issue 236,420,404 -------------------------------------------------------------- -------------------------- Add the following: * Number of fully paid +ordinary securities issued in 17,869,572 (16 December that 12 month period under an exception in rule 7.2 2016) 200,000 (23 December 2016) * Number of fully paid +ordinary securities issued in that 12 month period with shareholder approval * Number of partly paid +ordinary securities that became fully paid in that 12 month period Note: * Include only ordinary securities here - other classes of equity securities cannot be added * Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed * It may be useful to set out issues of securities on different dates as separate line items -------------------------------------------------------------- -------------------------- Subtract the number Nil of fully paid +ordinary securities cancelled during that 12 month period -------------------------------------------------------------- -------------------------- "A" 254,489,976 -------------------------------------------------------------- -------------------------- Step 2: Calculate 15% of "A" ------------------------------------------------------------------------------------------ "B" 0.15 [Note: this value cannot be changed] -------------------------------------------------------------- -------------------------- Multiply "A" by 0.15 38,173,496 -------------------------------------------------------------- -------------------------- Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that has already been used ------------------------------------------------------------------------------------------ Insert number of +equity securities issued or agreed to be issued in that 12 month period 22,222 (26 May 2017) not counting those 22,222 (3 November issued: 2017) * Under an exception in rule 7.2 * Under rule 7.1A * With security holder approval under rule 7.1 or rule 7.4 Note: * This applies to equity securities, unless specifically excluded - not just ordinary securities * Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed * It may be useful to set out issues of securities on different dates as separate line items -------------------------------------------------------------- -------------------------- "C" 44,444 -------------------------------------------------------------- -------------------------- Step 4: Subtract "C" from ["A" x "B"] to calculate remaining placement capacity under rule 7.1 ------------------------------------------------------------------------------------------ "A" x 0.15 Note: number must be same as shown in Step 2 38,173,496 -------------------------------------------------------------- -------------------------- Subtract "C" Note: number must be same as shown in Step 3 44,444 -------------------------------------------------------------- -------------------------- Total ["A" x 0.15] 38,129,052 - "C" [Note: this is the remaining placement capacity under rule 7.1] -------------------------------------------------------------- --------------------------
Part 2
Rule 7.1A - Additional placement capacity for eligible entities --------------------------------------------------------------------------------------------- Step 1: Calculate "A", the base figure from which the placement capacity is calculated --------------------------------------------------------------------------------------------- "A" Note: number must be same as shown in Step 1 of Part 1 254,449,976 -------------------------------------------------------------- ----------------------------- Step 2: Calculate 10% of "A" --------------------------------------------------------------------------------------------- "D" 0.10 Note: this value cannot be changed -------------------------------------------------------------- ----------------------------- Multiply "A" by 0.10 25,444,998 -------------------------------------------------------------- ----------------------------- Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used --------------------------------------------------------------------------------------------- Insert number of +equity Nil securities issued or agreed to be issued in that 12 month period under rule 7.1A Notes: * This applies to equity securities - not just ordinary securities * Include here - if applicable - the securities the subject of the Appendix 3B to which this form is annexed * Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained * It may be useful to set out issues of securities on different dates as separate line items -------------------------------------------------------------- ----------------------------- "E" Nil -------------------------------------------------------------- ----------------------------- Step 4: Subtract "E" from ["A" x "D"] to calculate remaining placement capacity under rule 7.1A --------------------------------------------------------------------------------------------- "A" x 0.10 Note: number must be same as shown in Step 2 25,444,998 -------------------------------------------------------------- ----------------------------- Subtract "E" Nil Note: number must be same as shown in Step 3 -------------------------------------------------------------- ----------------------------- Total ["A" x 0.10] 25,444,998 - "E" Note: this is the remaining placement capacity under rule 7.1A -------------------------------------------------------------- -----------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 30, 2017 02:24 ET (07:24 GMT)
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