Share Name Share Symbol Market Type Share ISIN Share Description
Thor Mining LSE:THR London Ordinary Share GB00BD0NBV71 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.05p +4.55% 1.15p 1.10p 1.20p 1.15p 1.10p 1.10p 4,781,417.00 09:00:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.7 -0.0 - 4.22

Thor Mining PLC Exercise of warrants

11/04/2017 8:03am

UK Regulatory (RNS & others)


Thor Mining (LSE:THR)
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TIDMTHR

RNS Number : 1630C

Thor Mining PLC

11 April 2017

11 April 2017

THOR MINING PLC

EXERCISE OF WARRANTS

The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), advises that it has received a binding warrant exercise notice for the exercise of 762,365 warrants over ordinary shares of 0.01 pence each in the capital of the Company ("Ordinary Shares"), each with an exercise price of 0.9 pence per warrant. The gross proceeds of the exercise of these warrants amounts in aggregate to GBP6,861.

Application has been made for 762,365 new Ordinary Shares, which rank pari passu with the Company's existing issued ordinary share capital, to be admitted to trading on the AIM Market of the London Stock Exchange ("AIM"). Dealings on AIM are expected to commence at 8.00 a.m. on or around 13 April 2017 ("Admission").

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Thor will have 373,013,208 Ordinary Shares in issue with voting rights attached. Thor holds no shares in treasury. This figure of 373,013,208 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 to their interest in the Company, under the ASX Listing Rules or the DTRs.

Mr Mick Billing, Executive Chairman of Thor: "This continued support from our investors is very pleasing. We hope that the anticipated assay results from recent drilling at Pilot Mountain provide a compelling case for follow up work, and funds raised via exercise of warrants can contribute towards this."

ASX Appendix 3B

The following Appendix 3B has been announced on the Australian Securities Exchange ("ASX"), as required under the listing rules of the ASX.

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

 
Name of entity 
Thor Mining PLC 
--------------- 
 
 
ABN 
121 117 673 
----------- 
 

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) Ordinary shares / 
        issued or to be                                               CDIs 
        issued                                                        (b) Ordinary Shares 
 
 2     Number of +securities                                               (a) Transfers of 3,886,341 
        issued or to be                                                    from AIM listed shares 
        issued (if known)                                                  on the AIM Market of the 
        or maximum number                                                  London Stock Exchange, 
        which may be issued                                                to ASX listed CDI's, during 
                                                                           the period 19 March 2017 
                                                                           to 9 April 2017. 
                                                                           (b) Issue of 762,365 Ordinary 
                                                                           Shares, in the UK, on 
                                                                           10 April 2017, as a result 
                                                                           of the exercise of unlisted 
                                                                           options (termed warrants 
                                                                           in the UK). Expiry date 
                                                                           was 27 July 2018. 
                                                                           Thereby increasing the 
                                                                           total number of securities, 
                                                                           listed on both AIM and 
                                                                           ASX, to 373,013,208 as 
                                                                           at 10 April 2017. 
 
 3     Principal terms                                                     This represents: 
        of the +securities                                                 (a) Transfers between 
        (eg, if options,                                                   AIM listed shares on the 
        exercise price                                                     AIM Market of the London 
        and expiry date;                                                   Stock Exchange, and ASX 
        if partly paid                                                     listed CDI's. 
        +securities, the                                                   (b) Issue of 762,365 Ordinary 
        amount outstanding                                                 Shares in the UK on 10 
        and due dates                                                      April 2017, as a result 
        for payment; if                                                    of the exercise of unlisted 
        +convertible securities,                                           options (termed warrants 
        the conversion                                                     in the UK). Expiry date 
        price and dates                                                    was 27 July 2018. 
        for conversion) 
                                                                   ---------------------------------------- 
 
 4     Do the +securities                                                      (a) Yes. 
        rank equally in 
        all respects from 
        the date of allotment 
        with an existing 
        +class of quoted 
        +securities? 
                                                                                (b) Yes. 
        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) N/A 
        consideration                                                 (b) Option exercise price 
                                                                      of GBP0.009 per share. 
                                                                   ---------------------------------------- 
 
  6    Purpose of the                                                (a) N/A 
        issue                                                         (b) Issue of 762,365 Ordinary 
        (If issued as                                                 Shares in the UK on 10 
        consideration                                                 April 2017, as a result 
        for the acquisition                                           of the exercise of unlisted 
        of assets, clearly                                            options (termed warrants 
        identify those                                                in the UK). 
        assets) 
                                                                   ---------------------------------------- 
 
  6a   Is the entity                                                Yes 
        an +eligible entity 
        that has obtained 
        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 
                                                                   ---------------------------------------- 
 
  6b   The date the security                                        24 November 2016 
        holder resolution 
        under rule 7.1A 
        was passed 
                                                                   ---------------------------------------- 
 
  6c   Number of +securities                                         N/A 
        issued without 
        security holder 
        approval under 
        rule 7.1 
                                                                   ---------------------------------------- 
 
  6d   Number of +securities                                         N/A 
        issued with security 
        holder approval 
        under rule 7.1A 
                                                                   ---------------------------------------- 
 
  6e   Number of +securities                                                 N/A 
        issued with security 
        holder approval 
        under rule 7.3, 
        or another specific 
        security holder 
        approval (specify 
        date of meeting) 
                                                                   ---------------------------------------- 
 
  6f   Number of securities                                         (a) N/A 
        issued under an                                              (b) 762,365 
        exception in rule 
        7.2 
                                                                   ---------------------------------------- 
 
  6g   If securities                                                N/A 
        issued under rule 
        7.1A, was issue 
        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. 
                                                                   ---------------------------------------- 
 
  6h   If securities                                                N/A 
        were issued under 
        rule 7.1A for 
        non-cash consideration, 
        state date on 
        which valuation 
        of consideration 
        was released to 
        ASX Market Announcements. 
                                                                   ---------------------------------------- 
 
  6i   Calculate the                                                Refer attached Annexure 
        entity's remaining                                           1 
        issue capacity 
        under rule 7.1 
        and rule 7.1A 
        - complete Annexure 
        1 and release 
        to ASX Market 
        Announcements 
                                                                   ---------------------------------------- 
 
 7     Dates of entering                                            (a) Transfers 19 March 
        +securities into                                             2017 to 9 April 2017 
        uncertificated                                               (b) 10 April 2017 
        holdings or despatch 
        of certificates 
                                                                   ---------------------------------------- 
 
 
                                    Number            +Class 
                                   ----------------  --------------------- 
        Number and +class 
         of all +securities                           Ordinary Shares 
         quoted on ASX                                 quoted by 
         (including the                                ASX ("THR" as 
         securities in                                 CDIs) as at 10 
 8       section 2 if applicable)       122,185,270    April 2017. 
                                   ----------------  --------------------- 
                                                      Ordinary Shares 
                                                       admitted to the 
                                                       AIM Market of 
                                                       the London Stock 
                                                       Exchange, as at 
                                                       10 April 2017. 
                                                       Unlisted Options: 
                                                       1.25 pence unlisted 
                                                       warrants expiring 
                                                       1 December 2018. 
                                                       1.25 pence unlisted 
                                                       warrants expiring 
                                                       5 March 2019. 
                                                       1.25 pence unlisted 
                                                       warrants expiring 
                                                       7 April 2019. 
                                                       1.25 pence unlisted 
                                                       warrants expiring 
                                                       11 April 2019. 
                                                       1.25 pence unlisted 
                                                       warrants expiring 
                                        250,827,938    26 July 2019. 
        Number and +class                48,000,000    1.25 pence unlisted 
         of all +securities              16,000,000    warrants expiring 
         not quoted on                   40,000,000    2 September 2019. 
         ASX (including                  13,840,000    0.9 pence unlisted 
         the securities                  20,000,000    warrants 
         in section 2 if                 10,000,000    expiring 27 July 
 9       applicable)                     20,445,132    2018. 
                                   ----------------  --------------------- 
 
 10   Dividend policy               No Policy 
       (in the case of 
       a trust, distribution 
       policy) on the 
       increased capital 
       (interests) 
                                   --------------------------------------- 
 
 

Part 2 -- Bonus issue or pro rata issue - 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)   ü   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 
             for which +quotation 
             is sought 
 
       39   Class of +securities 
             for which quotation 
             is sought 
                                                                        ---------------------------- 
 
       40   Do the +securities 
             rank equally in 
             all respects from 
             the date of allotment 
             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 
             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 not available now, 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.

   Sign here:     ..............................             Date: 10 April 2017 

(Company Secretary)

Print name: Ray Ridge

== == == == ==

Appendix 3B - Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for (+) eligible entities

Introduced 01/08/12

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                                         as at 9 April 2016 181,455,501 
  paid ordinary securities                                       (4,536,387,510 pre-consolidation) 
  on issue 12 months 
  before date of issue 
  or agreement to issue 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 Add the following: 
   *    Number of fully paid ordinary securities issued in 
        that 12 month period under an exception in rule 7.2       Placement (1/6/16) 13,440,000 
                                                                  (approved 23 June 2016) 
                                                                  (pre consolidation 336,000,000) 
   *    Number of fully paid ordinary securities issued in 
        that 12 month period with shareholder approval            Placement (24/6/16) 
                                                                  34,560,000 
                                                                  (approved 23 June 2016) 
                                                                  (pre consolidation 864,000,000) 
 
 
                                                                  Placement (5/9/16) 16,000,000 
                                                                  (approved 6 October 
                                                                  2016) 
                                                                  (pre consolidation 400,000,000) 
   *    Number of partly paid ordinary securities that became 
        fully paid in that 12 month period 
                                                                  Placement (7/10/16) 
                                                                  40,000,000 
  Note:                                                           (approved 6 October 
   *    Include only ordinary securities here - other classes     2016) 
        of equity securities cannot be added                      (pre consolidation 1,000,000,000) 
 
 
   *    Include here (if applicable) the securities the           Placement (11/10/16) 
        subject of the Appendix 3B to which this form is          13,840,000 
        annexed                                                   (approved 6 October 
                                                                  2016) 
                                                                  (pre consolidation 346,000,000) 
   *    It may be useful to set out issues of securities on 
        different dates as separate line items 
                                                                  Remuneration (25/11/2016) 
                                                                  17,862,839 
                                                                  (approved 24 November 
                                                                  2016) 
                                                                  (pre consolidation 446,570,973) 
 
                                                                  Issue - options exercised 
                                                                  1,780,026 
                                                                  (Issued 17/3/17) 
 
                                                                  Issue - options exercised 
                                                                  3,312,477 
                                                                  (Issued 20/3/17) 
 
                                                                  Issue - options exercised 
                                                                  762,365 
                                                                  (Issued 10/4/17) 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 Subtract the number 
  of fully paid ordinary 
  securities cancelled 
  during that 12 month 
  period                                                                                                                                                                                                                                            0 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 "A"                                                                                                                                                                                                                                      323,013,208 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 Step 2: Calculate 15% of "A" 
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 "B"                                                                                                                                                                                                                                             0.15 
                                                                                                                                                                                                                             [Note: this value cannot 
                                                                                                                                                                                                                                          be changed] 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 Multiply "A" by 0.15                                                                                                                                                                                                                      48,451,981 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 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                                                                                                                                                                                                    Placement Shares (27/01/17) 
  agreed to be issued                                                                                                                                                                                                                      18,284,166 
  in that 12 month period                                                                                                                                                                                                         Warrants (27/01/17) 
  not counting those                                                                                                                                                                                                                       26,300,000 
  issued: 
   *    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"                                                                                                                                                                                                                                       44,584,166 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 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                                                                                                                                                                                                                                        48,451,981 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 Subtract "C" 
  Note: number must be 
  same as shown in Step 
  3                                                                                                                                                                                                                                        44,584,166 
-------------------------------------------------------------  -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
 Total ["A" x 0.15]                                                                                                                                                                                                                         3,867,815 
  - "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                                                                    323,013,208 
--------------------------------------------------------------  ---------------------------- 
 Step 2: Calculate 10% of "A" 
-------------------------------------------------------------------------------------------- 
 "D"                                                                                    0.10 
                                                                     Note: this value cannot 
                                                                                  be changed 
--------------------------------------------------------------  ---------------------------- 
 Multiply "A" by 0.10                                                             32,301,320 
--------------------------------------------------------------  ---------------------------- 
 Step 3: Calculate "E", the amount of placement 
  capacity under rule 7.1A that has already 
  been used 
-------------------------------------------------------------------------------------------- 
 Insert number of equity                                         Placement Shares (27/01/17) 
  securities issued or                                            31,715,834 
  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"                                                                              31,715,834 
--------------------------------------------------------------  ---------------------------- 
 
 
 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                                                                                       32,301,320 
------------------------  -------------------------------------------------------------------------- 
 Subtract "E" 
  Note: number must be 
  same as shown in Step 
  3                                                                                       31,715,834 
------------------------  -------------------------------------------------------------------------- 
 Total ["A" x 0.10] 
  - "E"                                                                                      585,486 
                                                                         Note: this is the remaining 
                                                                                  placement capacity 
                                                                                     under rule 7.1A 
------------------------  -------------------------------------------------------------------------- 
 

Enquiries:

 
Mick Billing        +61 (8) 7324    Thor Mining          Executive 
                         1935        PLC                  Chairman 
Ray Ridge           +61 (8) 7324    Thor Mining          CFO/Company 
                         1935        PLC                  Secretary 
Colin Aaronson/    +44 (0) 207 383  Grant Thornton       Nominated 
 Daniel Bush/            5100        UK LLP               Adviser 
 Richard Tonthat 
Elliot Hance        +44 (0) 207382  Beaufort Securities  Joint Broker 
                     8300            Limited 
Nick Emerson        +44 (0) 1483    SI Capital Ltd       Joint Broker 
 / Andy Thacker        413 500 
Tim Blythe/        +44 (0) 207 138  Blytheweigh          Financial 
 Camilla Horsfall        3222                             PR 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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