Regency Mines PLC Issue of Equity, Live Market Bookbuild and TVR (4832U)
January 18 2017 - 6:33AM
UK Regulatory
TIDMRGM
RNS Number : 4832U
Regency Mines PLC
18 January 2017
REGENCY MINES PLC
("Regency" or the "Company")
Issue of Equity and Live Market Bookbuild
Total Voting Rights
18 January 2017
Regency Mines plc announces that it has raised GBP60,000 by way
of placings of 15,000,000 new ordinary shares of 0.01 pence each
("Shares") in the Company at a price of 0.4p per share with 1 for 1
warrants exercisable at a price of 0.8p for twenty-four months
("Placing").
The purpose of the Placing is to replenish the Company's working
capital following the December 2016 investment of GBP250,000 in
Carbon Minerals Corporation.
The Company also proposes to raise up to GBP50,000 by way of a
Live Market Bookbuild through the Teathers mobile application (the
"Teathers App"). This will involve the issue of up to 12,500,000
new Shares at a price of 0.4p per share, together with 1 for 1
warrants exercisable at a price of 0.8p for twenty-four months.
This will be the first Live Market Bookbuild offered via the
Teathers App. Only onboarded users of the Teathers App will be able
to participate in the Live Market Bookbuild.
The Live Market Bookbuild will commence at 1200 Wednesday 18
January and will close at 1600 on Thursday 19 January.
Andrew Bell, Regency Chairman, states: "Just before the holiday
period we raised most of the cost of our investment in the Rosa
coal mine in Alabama. By now raising the rest, we replenish our
working capital level to previous levels.
In addition, we are now able to allow qualified Teathers
investors, via the Teathers App, to apply to participate in a
private placing both outside and during market hours. This
initiative, with its transparent process, is a first for the
market, and we hope will be welcomed, especially by those who have
expressed regret at being left out in previous placings."
Further Information and Additional Terms
The Placing is conditional on admission of the Shares to trading
on AIM ("Admission").
Application has been made to the London Stock Exchange for
Admission of the Shares, which will rank pari passu with the
Company's existing issued Ordinary Shares. Dealings are expected to
commence at 8.00 a.m. on or around 24th January 2017
Total Voting Rights
Following the Placing, the Company's total issued ordinary share
capital will consist of 394,884,571 Shares with voting rights. No
Shares are held in treasury.
The above figure of 394,884,571 may be used by shareholders 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 Company under the FCA's Disclosure and
Transparency Rules.
Background Information
Regency Mines is a natural resource development and investment
company with interests in oil and mineral exploration, and in the
production of metallurgical coal. Regency holds energy interests in
Horse Hill Development Limited, that has discovered substantial oil
deposits near Gatwick, Curzon Energy plc, with development
interests in coal bed methane in Oregon, and Carbon Minerals
Corporation, which is currently re-opening the Rosa metallurgical
coal mine in Alabama. Regency also controls the Mambare project in
Papua New Guinea, where it established through exploration a large
nickel-cobalt Resource, and the Motzfeldt tantalum-niobium Resource
in southern Greenland.
The Teathers App is a mobile app designed to give qualified
private investors access to placements & Initial Public
Offerings (IPOs), predominantly on the London Stock Exchange's
Alternative Investment Market (AIM). There are currently 993
companies listed on AIM. During the course of 2016 these companies
have raised GBP3.27 billion in secondary fundraisings (placements)
(DATA: AIM Statistics to end Nov. 2016).
The Teathers App is an execution only platform. When an
AIM-listed company raises money by private placement, "onboarded"
users of the Teathers App have the opportunity to participate in
the placement on the same terms as other investors. An "onboarded"
user of the Teathers App is one who has already opened a brokerage
account with Shard Capital. Shard Capital is the broker supporting
the re-launch of the Teathers App and provides the necessary
environment, including compliance oversight and client
identification. Shard Capital is regulated by the FCA.
The Teathers App is currently available in the App Store. A
version of the Teathers App will be released in Google Play in Q1
2017.
Note: The Market Abuse Regulation ("MAR") became effective from
3 July 2016. Market soundings, as defined in MAR, were taken in
respect of the Placing with the result that certain persons became
aware of inside information, as permitted by MAR. That inside
information is set out in this announcement and has been disclosed
as soon as possible in accordance with paragraph 7 of article 17 of
MAR. Therefore, those persons that received inside information in a
market sounding are no longer in possession of inside information
relating to the Company and its securities.
For further information, please contact:
Andrew Bell 0207 747 9960 Chairman Regency Mines Plc
Scott Kaintz 0207 747 9960 Executive Director Regency Mines
Plc
Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0129 351 7744 Broker Dowgate Capital
Stockbrokers Ltd.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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