Mercer Resources PLC Issue of Equity (8100S)

TIDMMCR

RNS Number : 8100S

Mercer Resources PLC

12 November 2013

12 November 2013

Mercer Resources Plc (AIM: MCR)

("Mercer" or the "Company")

Issue of Equity

The board of Mercer (the "Board") is pleased to announce that, through its broker, Peterhouse Corporate Finance, the Company has raised GBP110,000 (before expenses) by way of a subscription for 14,666,667 new ordinary shares of 0.1 pence each in the share capital of the Company (the "Subscription Shares") at a price of 0.75 pence per share (the "Subscription Price") from professional and institutional investors.

The net proceeds will be used to provide working capital and to increase cash reserves of the Company as the Board seeks to accelerate the implementation of Mercer's investment strategy.

The Subscription Shares will rank pari passu with the existing ordinary shares of 0.1 pence each in the Company (the "Ordinary Shares"). Application has been made for admission of the Subscription Shares to trading on AIM and it is expected that dealings in the Subscription Shares will commence on or around 18 November 2013.

Following the issue of the Subscription Shares, there will be 79,145,803 Ordinary Shares in issue. This number 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.

Enquiries:

 
Trevor Wells                  Mercer Resources plc           020 3301 9331 
Nominated Adviser             Cairn Financial Advisers 
 James Caithie/Avi Robinson    LLP                           020 7148 7900 
Broker                        Peterhouse Corporate Finance 
 Jon Levinson/Lucy Williams    Limited                       020 7469 0936 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

IOEFLLFFXFFEFBQ