Hambledon Mining PLC Completion of £1.93 million Placing (3400X)
January 10 2014 - 2:00AM
UK Regulatory
TIDMHMB
RNS Number : 3400X
Hambledon Mining PLC
10 January 2014
10 January 2014
Hambledon Mining plc
("Hambledon" or the "Company")
Completion of GBP1.93 million Placing
Hambledon Mining plc (AIM: HMB), the gold mining and development
company, is pleased to announce that it has conditionally raised
gross proceeds of approximately GBP1.93 million through a placing
of 97,972,000 new Ordinary Shares of 0.1 pence each (the "Placing
Shares") through JSC Visor Capital ("Visor"), a Kazakhstan focused
investment bank, at a price of 1.975 pence per Ordinary Share (the
"Placing").
The net proceeds of the Placing will be used for general working
capital purposes, and are expected to increase the Company's
flexibility in securing its funding requirements for the full scale
development of the underground mine at Sekisovskoye.
Details of the Placing
Application has been made for the Placing Shares, which will
rank pari passu in all respects with the existing Ordinary Shares
of the Company, to be admitted to trading on AIM ("Admission"),
which is expected to be effective from 8.00 a.m. on 16 January
2014.
The Placing is conditional, inter alia, upon Admission becoming
effective by no later than 8.00 a.m. on 16 January 2014 or such
later date, being not later than 8.00 a.m. on 31 January 2014, as
Hambledon and Visor may agree.
Total Voting Rights
The Company has no Ordinary Shares held in treasury. The total
number of voting rights in the Company following the Placing will
therefore be 1,661,342,130. 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 under the FSA's Disclosure and Transparency Rules.
For further information please contact:
Hambledon Mining Plc
Bogdan Poustovoi, CFA +44 (0) 207 932 2455
Strand Hanson (Nomad and Joint Broker)
Andrew Emmott
James Spinney
Ritchie Balmer +44 (0) 207 409 3494
Peat & Co. (Joint Broker) +44 (0) 203 540 1720
John Beaumont, COO and Head of Research +44 (0) 203 540 1723
Blythe Weigh Communications (Financial PR)
Tim Blythe
Halimah Hussain
Camilla Horsfall +44 (0) 207 138 3204
This information is provided by RNS
The company news service from the London Stock Exchange
END
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