We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Harvest Minerals Limited | LSE:HMI | London | Ordinary Share | AU000XINEAB4 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.475 | 1.40 | 1.55 | 1.475 | 1.475 | 1.475 | 85,044 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 8.63M | 198k | 0.0010 | 14.70 | 2.78M |
TIDMHMI
RNS Number : 9189V
Harvest Minerals Limited
03 February 2017
3 February 2017
Harvest Minerals Limited
("Harvest" or the "Company")
Exercise of Warrants, Issue of Warrants and TVR
Harvest Minerals Limited ("Harvest" or the "Company") announces that it has received notice from Edwards Family Holdings Ltd ("EFH") for the exercise of its entire holding of 11,020,500 warrants over ordinary shares of no par value in the capital of the Company ("Ordinary Shares") ("Warrants") (the "Warrant Exercise"). All the Warrants exercised had an exercise price of 8.8 pence per Warrant and were issued to EFH as part of the placing announced by the Company on 12 November 2016. Accordingly, 11,020,500 new Ordinary Shares have been issued to EFH.
The Warrant Exercise will result in a gross cash inflow to the Company of approximately GBP970,000, which will be included in the Company's treasury.
Application has been made for admission of these 11,020,500 new Ordinary Shares to trading on AIM ("Admission") and it is expected that Admission will take place at 8.00 a.m. on 9 February 2017.
Following Admission, EFH will be interested in 33,061,500 Ordinary Shares, representing approximately 28.4 percentage of the Company's issued share capital as enlarged by the Warrant Exercise.
Issue of New Warrants and Related Party Transaction
The Company has issued, subject to approval by Shareholders (other than EFH), 2,755,125 new warrants to EFH, exercisable at 14.0 pence per Ordinary Share at any time before 31 December 2019 ("New Warrants"). The Company intends to convene the necessary shareholder meeting to approve the issue of the New Warrants shortly and will notify shareholders accordingly.
Following the Warrant Exercise and, assuming the issue of the New Warrants is approved, the Company will have a total of 3,518,125 warrants in issue.
As a result of the size of EFH's shareholding in the Company, it is deemed a related party of the Company under the AIM Rules for Companies. The issue of the New Warrants to EFH is therefore classified as a related party transaction. The Directors consider, having consulted with Strand Hanson, the Company's Nominated Adviser, that the issue of the New Warrants is fair and reasonable insofar as Shareholders are concerned.
Total Voting Rights
Following Admission, there will be a total of 116,508,589 Ordinary Shares in issue. The Company holds no shares in treasury. Shareholders should therefore use the figure of 116,508,589 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 Company, under the FCA's Disclosure and Transparency Rules.
Commenting on the update, Executive Chairman of Harvest, Brian McMaster stated:
"Harvest made significant progress last year, surpassing all our stated objectives including commencing trial mining and signing a LOI with a major offtake partner. This has been recognised by our major shareholder and its decision to exercise all of its warrants, not only endorses our ongoing strategy but allows us to strengthen our balance sheet."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Enquiries:
Harvest Minerals Brian McMaster, Tel: +44 20 Limited Chairman 7495 4323 ---------------------- ------------------ ------------ Strand Hanson Rory Murphy Tel: +44 20 Limited (Nominated James Spinney 7409 3494 & Financial Adviser) Ritchie Balmer ---------------------- ------------------ ------------ Mirabaud Securities Rory Scott Tel: +44 20 LLP (Joint Broker) 7878 3360 ---------------------- ------------------ ------------ Beaufort Securities Jon Bellis Tel: +44 20 Ltd 7382 8300 (Joint Broker) ---------------------- ------------------ ------------ Whitman-Howard Grant Barker Tel: +44 20 Ltd 7659 1225 ---------------------- ------------------ ------------ Buchanan Bobby Morse Tel: +44 20 (Financial PR) Anna Michniewicz 7466 5000 ---------------------- ------------------ ------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMGGZVZKGNZM
(END) Dow Jones Newswires
February 03, 2017 02:00 ET (07:00 GMT)
1 Year Harvest Minerals Chart |
1 Month Harvest Minerals Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions