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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sula Iron | LSE:SULA | London | Ordinary Share | GB00B6Y3CV16 | ORD 0.001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.06 | 0.055 | 0.065 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSULA
RNS Number : 4820Q
Sula Iron & Gold PLC
30 November 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.
This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of Sula Iron & Gold Plc or other evaluation of any securities of Sula Iron & Gold Plc or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.
30 November 2016
SULA IRON & GOLD PLC
("Sula" or the "Company")
Posting of Open Offer Circular
Sula (AIM: SULA), the multi-commodity exploration company focused on Sierra Leone, is pleased to announce that, further to its announcement of 18 November 2016, it has today posted a circular (the "Circular") to Qualifying Shareholders regarding an Open Offer to raise up to approximately GBP0.30 million gross. The Circular is also available on the Company's website at www.sulaironandgold.com
All capitalised terms in this announcement have the same meanings as those given to them in the Circular, unless the context otherwise requires.
The Open Offer is being made to Qualifying Shareholders on the register as at the Record Date of close of business on 29 November 2016, for up to 143,031,940 Open Offer Shares at 0.21 pence per Open Offer Share (being the same price as the Placing and Subscription Price announced on 18 November 2016) on the basis of:
1 Open Offer Share for every 13 Existing Ordinary Shares
As announced on 18 November 2016, the Issue Price represented a discount of approximately 6.7 per cent. to the Company's closing middle market share price of 0.225p on 17 November 2016, the date, immediately prior to the announcement of the Placing and Subscription and a discount of approximately 16.0 per cent. to the Company's closing middle market share price of 0.25p on 29 November 2016, the latest practicable date prior to the publication of the Circular.
Qualifying Shareholders are also being given the opportunity, provided that they take up their Open Offer Entitlements in full, to apply for additional Open Offer Shares through an Excess Application Facility.
Full details of the Open Offer, including terms and conditions and details on how to accept the Open Offer, are set out in the Circular being posted to Qualifying Shareholders today and available on the Company's website.
Expected Timetable of Principal Events
2016 Record Date for entitlement under Close of business the Open Offer on 29 November Ex-Entitlement Date and time 7.00 a.m. on 30 November Posting of this Circular and, 30 November to Qualifying non-CREST Shareholders only, the Application Form Open Offer Entitlements and Excess 8.00 a.m. on CREST Open Offer Entitlements 1 December credited to stock accounts in CREST of Qualifying CREST Shareholders Latest recommended time and date 4.30 p.m. on for requesting withdrawal of Open 9 December Offer Entitlements and Excess CREST Open Offer Entitlements from CREST Latest time for depositing Open 3.00 p.m. on Offer Entitlements and Excess 12 December CREST Open Offer Entitlements into CREST Latest time and date for splitting 3.00 p.m. on Application Forms (to satisfy 13 December bona fide market claims) Latest time and date for receipt 11.00 a.m. on of completed Application Forms 15 December and payment in full under the Open Offer or settlement of relevant CREST instruction (as appropriate) Expected time and date of announcement 16 December of results of the Open Offer Admission effective and dealings 8.00 a.m. on in the Open Offer Shares expected 21 December to commence on AIM Expected date for crediting of 8.00 a.m. on Open Offer Shares in uncertificated 21 December form to CREST stock accounts Expected date of despatch of share 30 December certificates in respect of Open Offer Shares in certificated form
The dates set out in the Expected Timetable of Principal Events above and mentioned throughout the Circular may be adjusted by Sula Iron & Gold plc, in which event details of the new dates will be announced through a Regulatory Information Service and/or notified by sending a further Circular, where appropriate, to Shareholders. All references to time in this Circular are to time in London.
For further information, please contact:
Sula Iron & Gold plc +44 (0) 20 7583 Roger Murphy, CEO 8304 VSA Capital Limited (Financial Adviser and Corporate Broker) Andrew Monk Andrew Raca +44 (0) 20 3005 Justin McKeegan 5000 Strand Hanson Limited (Financial and Nominated Adviser) James Harris Matthew Chandler +44 (0) 20 7409 James Dance 3494
Ongeza Mining (Financial and Technical Adviser) +27 (0) 11 469 0629
Iain Macpherson
Ilja Graulich
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 30, 2016 02:00 ET (07:00 GMT)
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