ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

SGZ Scotgold Resources Limited

13.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

Scotgold Resources Ltd Completion of Placing (9909A)

04/01/2018 12:01pm

UK Regulatory


Scotgold Resources (LSE:SGZ)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Scotgold Resources Charts.

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)

1 Year Scotgold Resources Chart

1 Year Scotgold Resources Chart

1 Month Scotgold Resources Chart

1 Month Scotgold Resources Chart

Your Recent History

Delayed Upgrade Clock