Metminco Limited Issue of Equity (1654J)

TIDMMNC

RNS Number : 1654J

Metminco Limited

28 March 2018

AIM Announcement

28 March 2018

 
      Placement of Shares and Options 
       Metminco Limited ("Metminco" or the Company) (ASX: 
       MNC; AIM: MNC) is pleased to announce that, further 
       to the announcement dated 23 March 2018, it has 
       successfully raised a total of approximately A$152,640 
       (before costs) from sophisticated and professional 
       investors ("Subscribers") through the issue of 
       19,080,045 new ordinary shares (the "Placement 
       Shares") in the Company ("Placement"). The Subscribers 
       will also receive one (1) option exercisable at 
       $0.011 on or before 1 June 2020 for every three 
       (3) Placement Shares subscribed, subject to shareholder 
       approval at the upcoming Annual General Meeting 
       ("Placement Options"). 
       The Placement Shares will be issued in one tranche 
       utilising the Company's placement capacity pursuant 
       to ASX Listing Rules 7.1. 
 
       The offer of Placement Options is included as 
       an offer under the Entitlement Issue prospectus 
       ("Prospectus") lodged with the ASX and ASIC on 
       23 March 2018 in order to facilitate secondary 
       trading of the new securities ("Placement Options 
       Offer"). 
 
       Only the Subscribers to the Placement may accept 
       the Placement Options Offer by using the relevant 
       application form. A personalised application form 
       in relation to the Placement Options Offer will 
       be issued to the Subscribers together with a copy 
       of the Prospectus. 
       The Subscribers to the Placement will have the 
       opportunity to participate in the Entitlement 
       Issue. The Company will seek quotation of Placement 
       Shares and it will also apply for official quotation 
       of the Placement Options on the ASX, subject to 
       shareholder approval. An application for admission 
       to trading on AIM has also been made for the Placement 
       Shares, with admission expected on or about 29 
       March 2018. 
       Following Admission, the Company will have the 
       following shares and options on issue: 
        *    146,280,344 ordinary shares 
 
 
        *    12,345,639 unlisted option of exercise price A$0.081 
             and expiry date 17 May 2019 
 
 
        *    12,345,639 unlisted option of exercise price A$0.081 
             and expiry date 25 May 2019 
 
 
       From Admission, the figure of 146,280,344 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 share capital of the Company under the 
       FCA's Disclosure and Transparency Rules. 
 
       On Admission, the shareholdings in the Company 
       of Lanstead Capital L.P., Lanstead III LLC, and 
       RMB Australia Holdings will decrease on unchanged 
       holdings and the impact of dilution to 7.03% (10,285,190 
       ordinary shares), 6.17% (9,031,266 ordinary shares) 
       and 5.47% (8,000,000 ordinary shares) respectively. 
       As previously notified, funds from the Placement 
       will be applied to fund exploration activities, 
       the retirement of the Redfield convertible note, 
       payment of creditors and general working capital 
       including corporate and general administration 
       costs. 
 
 
       Graeme Hogan 
       Company Secretary 
 
 
 
   For further information, 
   please contact: 
   METMINCO LIMITED 
 Graeme Hogan                      Office: +61 (0) 2 
                                    9460 1856 
 
 NOMINATED ADVISOR AND BROKER 
 RFC Ambrian 
 Australia 
 Andrew Thomson/Alena Broesder     Office: +61 (0) 2 
                                    9250 0000 
 
 United Kingdom 
 Charlie Cryer                     Office: +44 (0) 20 
                                    3440 6800 
 
 PUBLIC RELATIONS 
 Camarco 
  United Kingdom 
 Gordon Poole / Nick Hennis        Office: + 44 (0) 20 
                                    3757 4997 
 
 Media + Capital Partners 
 Australia 
 Luke Forrestal                    Office: +61 (0) 411 
                                    479 144 
 

Market Abuse Regulation (MAR) Disclosure

The information communicated in this announcement includes inside information for the purposes of Article 7 of Market Abuse Regulation (EU) 596/2014.

Forward Looking Statement

All statements other than statements of historical fact included in this announcement including, without limitation, statements regarding future plans and objectives of Metminco are forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as "anticipate", "believe", "could", "estimate", "expect", "future", "intend", "may", "opportunity", "plan", "potential", "project", "seek", "will" and other similar words that involve risks and uncertainties.

These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management of Metminco that could cause Metminco's actual results to differ materially from the results expressed or anticipated in these statements.

The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. Metminco does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and stock exchange listing

This information is provided by RNS

The company news service from the London Stock Exchange

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March 28, 2018 02:00 ET (06:00 GMT)