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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Lionsgold | LSE:LION | London | Ordinary Share | GG00B3M9KL68 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.65 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLION
RNS Number : 4811H
Lionsgold Limited
08 June 2017
8 June 2017
Lionsgold Limited
Strategic Placing
and Director/PDMR Shareholding
Lionsgold Limited ("Lionsgold", "LION" or the "Company"), the gold-focused exploration company with assets in India and Finland and a significant shareholder of a physical gold holding and trading exchange, is pleased to announce the Company has raised GBP550,000 (before expenses) through the placing of 50,000,000 new ordinary shares of no par value ("Ordinary Shares") (the "Placing Shares") at a price of 1.1 pence per share (the "Placing").
Highlights:
-- Placing of 50,000,000 Placing Shares at a price of 1.1 pence per share (the "Placing Price") (equal to the mid-market price of the Ordinary Shares as at close of trading on 7 June 2017, the last trading day prior to this announcement) raising gross proceeds of GBP550,000;
-- Issue of warrants to subscribe for 25,000,000 new Ordinary Shares at an exercise price of 1.5 pence per warrant (a 36 per cent. premium to the Placing Price) on the basis of 1 warrant per 2 Placing Shares, with an exercise period of approximately 6 months ending 15 December 2017 (the "Warrants");
-- Lionsgold CEO subscribing for 3,000,000 Placing Shares (representing 6 per cent. of the Placing) through Yarramen Corp Ltd which is owned by his family trust;
-- The Placing Shares will be issued under the existing authorities granted to the directors of the Company and completion of the Placing is conditional only on admission of the Placing Shares to trading on AIM, which is expected to take place on or around 22 June 2017; and
-- Placing proceeds to be utilised to advance Lionsgold's strategic plans in relation to two core areas of focus - India and Fintech (financial technology).
Cameron Parry, Chief Executive Officer of Lionsgold, commented: "We are delighted to report that Lionsgold has secured this strategic financing at no discount to the prevailing mid-market share price, to fund and progress identified objectives as part of LION's corporate strategy. We are grateful to both of our corporate brokers for their support of Lionsgold, currently a micro-cap AIM-quoted company, raising equity funds at no discount to the market price.
"The 1 for 2 attaching warrants are being issued at a 36 per cent. premium to the Placing Price, with a relatively short term of approximately six months in which to exercise, reflecting the near-term milestones anticipated.
"Near-term commercial objectives include: the completion of the feasibility study at Jonnagiri and potential for a Mine Developer/Operator contract to be agreed; undertaking a bulk sampling campaign in Finland to produce gold in H2 this year and see our Finnish JV self-funded; and implementation of the digital marketing and product development strategy of IndexGold."
Placing Summary
Lionsgold has undertaken the Placing to raise GBP550,000 (before expenses) through the issue of 50,000,000 Placing Shares at a price of 1.1 pence per share.
Each placee will receive one Warrant for every two Placing Shares, to subscribe for one additional new Ordinary Share at a price of 1.5 pence each, exercisable at any time prior up to and including 15 December 2017 (a total of 25,000,000 Warrants).
Cameron Parry, Chief Executive Officer, has, through Yarramen Corp Ltd ("Yarramen"), a company owned by his family trust, subscribed for 3,000,000 Placing Shares at the Placing Price. The information set out at the end of this announcement in accordance with the requirements of the EU Market Abuse Regulation, provides further detail. Following the Placing, Mr. Parry will be interested in aggregate in 10,000,000 Ordinary Shares, representing 3.9 per cent. of the enlarged issued share capital. Through his participation in the Placing, Mr. Parry, through Yarramen, will also receive 1,500,000 million Warrants.
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and trading is expected to commence at 8.00 a.m. on or around 22 June 2017.
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the FCA ("DTRs"), the issued ordinary share capital of Lionsgold following the Fundraising shall be 254,211,719 Ordinary Shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Lionsgold under the DTRs.
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For further information, please contact:
Lionsgold Limited Tel: +44 (0) 20 7397 2880 Cameron Parry (Chief Executive Officer) Luke Cairns (Executive Director) WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 113 394 6600 Tim Feather Ed Allsopp Smaller Company Capital Limited (Joint Broker) Tel: +44 (0) 20 3651 2911 Rupert Williams Jeremy Woodgate Beaufort Securities Limited (Joint Broker) Tel: +44 (0) 20 7382 8300 Elliot Hance Tavistock (Financial PR) Tel: +44 (0) 20 7920 3150 Emily Fenton Edward Lee
About LIONSGOLD
Lionsgold is a London Stock Exchange AIM market quoted, gold-focused exploration company, with gold assets in India and Finland and a significant holding in a physical gold and silver online vaulting and trading platform.
Lionsgold's three core focuses are:
-- Strategic partnership with leading India gold exploration and mine development company, Geomysore, in which Lionsgold owns 20.5%;
-- Physical gold holding and trading fintech platform for the UK, India and other jurisdictions; and
-- Gold exploration and production in Finland. 1 Details of the person discharging managerial responsibilities/person closely associated --- ----------------------------------------------------------------------------------------------- a) Name Cameron Parry --- ------------------------------------------------------------- -------------------------------- 2 Reason for the notification --- ----------------------------------------------------------------------------------------------- a) Position/status CEO --- ------------------------------------------------------------- -------------------------------- b) Initial notification/ Amendment Initial Notification --- ------------------------------------------------------------- -------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- ----------------------------------------------------------------------------------------------- a) Name Lionsgold Limited --- ------------------------------------------------------------- -------------------------------- b) LEI N/A --- ------------------------------------------------------------- -------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted --- ----------------------------------------------------------------------------------------------- a) Description of the financial instrument, type of instrument Ordinary shares of no par value Identification code GB00B3M9KL68 --- ------------------------------------------------------------- -------------------------------- b) Nature of the transaction Purchase of Ordinary Shares --- ------------------------------------------------------------- -------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) ----------- ---------- 1.1p each 3,000,000 ----------- ---------- --- ------------------------------------------------------------- -------------------------------- d) Aggregated information * Aggregated volume 3,000,000 GBP33,000 * Price --- ------------------------------------------------------------- -------------------------------- e) Date of the transaction 7 June 2017 --- ------------------------------------------------------------- -------------------------------- f) Place of the transaction London Stock Exchange, AIM --- ------------------------------------------------------------- --------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
June 08, 2017 02:00 ET (06:00 GMT)
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