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Name | Symbol | Market | Type |
---|---|---|---|
Burning Rock Biotech Ltd | LSE:BNR | London | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.35 | 0 | 01:00:00 |
TIDMBNR
RNS Number : 4112U
Blenheim Natural Resources PLC
18 January 2017
18 January 2017
Blenheim Natural Resources Plc
("Blenheim" or the "Company")
Oversubscribed Conditional Placing to Raise GBP750,000
The Company is pleased to announce that it has raised a total of GBP750,000 before expenses through a placing of 214,285,714 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at a price of 0.35 pence per share per Ordinary Share (the "Placing"), subject to shareholder approval.
The net proceeds of the placing will be used by the Company to make further investments in accordance with its investing policy, including to fund the cash consideration, should the Company exercise its the option to acquire a 30 per cent interest in the Dieba exploration permit in Southern Mali, as set out in the Company's RNS dated 18 January 2017. The net proceeds of the Placing will also be used to provide Blenheim with general working capital.
The Company has agreed to grant warrants over Ordinary Shares to subscribers on the basis of one warrant for every Ordinary Share taken up under the Placing, each entitling the holder to subscribe for a further Ordinary Share at a price of 0.65 pence per Ordinary Share (the "Placing Warrants"), exercisable at any time for a period of two years from the date of admission of the Placing Shares to trading on the AIM Market of the London Stock Exchange.
In connection with the Placing, the Company has also agreed to issue 10,714,286 warrants, each entitling the holder to subscribe for a further Ordinary Share at an exercise price of 0.35 pence per Ordinary Share, to Cornhill Capital Limited, the Company's joint broker (the "Broker Warrants"). The Broker Warrants will be exercisable at any time for a period of three years from the date of issue of Ordinary Shares pursuant to the Placing.
The Placing, which was oversubscribed, is conditional on and subject to the passing of the relevant shareholder resolutions at a general meeting of the Company. The Company will shortly convene a general meeting to, inter alia, grant the directors the authorities to issue and allot 214,285,714 Ordinary Shares and 214,285,714 Placing Warrants pursuant to the Placing, and the 10,714,286 Broker Warrants. A notice of General Meeting will shortly be sent to shareholders and further announcements will be made as soon as practicable.
Ends
For further information please contact:
Blenheim Natural +44 (0) 1622 Chris Ells Resources Plc 844601 Colin Aaronson/Jamie Barklem/ Grant Thornton UK +44 (0) 20 Daniel Bush LLP 7383 5100 +44 (0)1483 Nick Emerson SI Capital Ltd 413500 Peterhouse Corporate +44 (0) 20 Lucy Williams / Duncan Vasey Finance Limited 7469 0932 Cornhill Capital +44 (0) 20 Colin Rowbury Limited 7710 9610
The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
January 18, 2017 02:05 ET (07:05 GMT)
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