Blenheim Natural Resources PLC Placing to Raise £900,000 (6386R)
September 25 2017 - 2:01AM
UK Regulatory
TIDMBNR
RNS Number : 6386R
Blenheim Natural Resources PLC
25 September 2017
25 September 2017
Blenheim Natural Resources Plc
("Blenheim" or the "Company")
Placing to Raise GBP900,000
The Company is pleased to announce that it has raised a total of
GBP900,000 before expenses through a placing ("Placing") of
200,000,000 ordinary shares of 0.1 pence each in the capital of the
Company ("Ordinary Shares") at a price of 0.45 pence per Ordinary
Share (the "Placing Price"). The Company will use the funds raised
by the Placing to make further investments in accordance with its
investing policy.
Application will be made for the admission of the new Ordinary
Shares to trading on AIM ("Admission"), with Admission expected to
take place on or around 28 September 2017.
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 926,174,497 Ordinary Shares, each with voting rights. The
above figure of 926,174,497 Ordinary Shares 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 Disclosure and Transparency Rules.
In connection with the Placing, the Company has also agreed to
issue 10,000,000 warrants over Ordinary Shares to Novum Securities
Ltd ("Warrants"). Each Warrant entitles the holder to subscribe for
one Ordinary Share at an exercise price of 0.65 pence per Ordinary
Share and will be exercisable at any time for a period of two years
from the date of issue of Ordinary Shares pursuant to the
Placing.
Blenheim's Chairman, Chris Ells, commented: "Funds raised from
this Placing will significantly strengthen the Company's Balance
Sheet and thereby provide Blenheim with further firepower to
actively pursue its pipeline of investment opportunities with
particular emphasis on the lithium and new energy space in
Africa."
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For further information please contact:
Chris Ells Blenheim Natural Resources Plc +44(0)1622 844601
Neil Baldwin/Mark Brady SPARK Advisory Partners Limited
+44(0)203 368 3554
Nick Emerson SI Capital Ltd +44(0)1483 413500
Lucy Williams / Duncan Vasey Peterhouse Corporate Finance Limited +44(0)207 469 0930
Nick Bealer Cornhill Capital Limited +44(0)207 710 9610
This information is provided by RNS
The company news service from the London Stock Exchange
END
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