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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Scotgold Resources Limited | LSE:SGZ | London | Ordinary Share | AU000XINEAK5 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSGZ
RNS Number : 9909A
Scotgold Resources Ltd
04 January 2018
Scotgold Resources Limited
4 January 2018
Scotgold Resources Limited
Completion of GBP450,000 Placing
Scotgold Resources Limited (AIM:SGZ) (the "Company") advises that, following the completion of the non-renounceable rights issue first announced on 13 November 2017 (the "Rights Issue"), the Company has successfully completed a placing of 1,800,000 new fully paid ordinary shares to sophisticated existing investors in the Company to raise GBP450,000 (the "Placing").
The Placing is on the same terms as the Rights Issue, being at a price of GBP0.25 per new ordinary share with free options attached to the new ordinary shares at a ratio of one option for every five new ordinary shares purchased, with each option being exercisable at GBP0.40 on or before 31 December 2019.
Proceeds from the Placing will primarily be used towards:
1. Commencement of the part development of the Cononish Gold and Silver Project;
2. The Grampian exploration project;
3. Potential repayment of an existing GBP1 million loan, which is payable by 30 March 2018; and
4. Working capital.
The Company awaits a planning determination for the Cononish Gold and Silver Project from the Loch Lomond and Trossachs National Parks Planning Authority, which is still expected early this year.
Application is being made for the 1,800,000 new ordinary shares to be admitted to trading on AIM ("Admission") and Admission is expected to take place on or around 10 January 2018.
Following Admission, the Company's enlarged issued share capital will comprise 28,365,349 ordinary shares with voting rights. The Company does not hold any shares in treasury, therefore the total number of shares in the Company with voting rights will be 28,365,349. This figure 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.
Scotgold CEO, Richard Gray, commented:
"The Company is pleased to accept these additional share applications which not only demonstrate confidence in the Company's current strategy but will further bolster our financial position ahead of the planning determination."
For further information please contact:
Scotgold Resources Limited Stockdale Securities Limited
Richard Gray Robert Finlay / Ed Thomas
Tel: +44 (0)1838 400 306 Tel: +44 (0)20 7601 6100 Capital Markets Consultants Smaller Company Capital Ltd Simon Rothschild Rupert Williams Tel +44 (0)7703 167 065 Tel: +44 (0)20 3651 2911
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIEAFFLESXPEFF
(END) Dow Jones Newswires
January 04, 2018 07:01 ET (12:01 GMT)
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