Galileo Resources PLC Placing (3765Q)
October 18 2019 - 4:14AM
UK Regulatory
TIDMGLR
RNS Number : 3765Q
Galileo Resources PLC
18 October 2019
18 October 2019
Galileo Resources Plc
("Galileo" or "the Company")
Placing
Galileo Resources Plc is pleased to announce the Company has
today completed, in conjunction with Shard Capital Partners LLP
("Shard") , a placing (the "Placing") with institutional and retail
investors ("the Placees") of 125,000,000 Placing Units comprising
125,000,000 ordinary shares ("Ordinary Shares") of 0.1p each (the
"Placing Shares") at a placing price of 0.40 p (the "Placing
Price") per Placing Share to raise GBP500,000 before expenses
subject to admission to trading on AIM ("Admission") and
125,000,000 Warrants ("Placing Warrants") to subscribe for Ordinary
Shares at an exercise price of 0.60p per share. The Placing Price
is at a discount of approximately 8% compared to the closing
mid-market price of 0.45p yesterday. The Company intends to use the
proceeds of the Placing for general working capital towards
advancing its Star Zinc and Kashitu projects ("the Projects") in
Zambia, including an application and related environmental and
licence transfer activities for a small-scale mining permit for
Star Zinc and exploration on Kashitu.
In connection with the Placing, the Company has also granted
3,750,000 warrants to Shard ("Brokers Warrants") to subscribe for
Ordinary Shares at an exercise price of 0.60p per share. The
Brokers Warrants and the Placing Warrants may be exercised at any
time in the period expiring on the second anniversary of Admission
of the Placing Shares.
As part of the Placing, Colin Bird, the Company's Chairman, and
Richard Wollenberg, the Company's Non-Executive Director, have
respectively subscribed for 5,000,000 and 500,000 Placing Units.
Accordingly, Colin Bird will hold 60,435,000 Ordinary Shares
representing 10.83% of Galileo's enlarged issued share capital and
Richard Wollenberg will hold 7,221,341 Ordinary Shares representing
1.29% of Galileo's enlarged issued share capital following the
Placing.
The Placing Shares will, when issued, rank pari passu in all
respects with the existing Ordinary Shares. Application will be
made for the Placing Shares to be admitted to trading on AIM and
admission is expected to take place on or around 1 November
2019.
Following the issue of the Placing Shares, the Company's issued
share capital will total 557,811,947 ordinary Shares, with voting
rights. Shareholders in the Company may use this figure as the
denominator for the calculation, by which they would determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014. You can also follow
Galileo on Twitter: @GalileoResource
For further information, please contact: Galileo Resources
PLC
Colin Bird, Chairman Tel +44 (0) 20 7581
Andrew Sarosi, Executive Director 4477
Tel +44 (0) 1752
221937
Beaumont Cornish Limited - Nomad Tel +44 (0) 20 7628
Roland Cornish/James Biddle 3396
Novum Securities Limited - Joint Tel +44 (0) 20 7399
Broker 9400
Colin Rowbury/Jon Belliss
Shard Capital Partners LLP - Joint Tel +44 (0) 207
Broker 186 9952
Damon Heath
The following information relating to the transaction has been
filed with the FCA in accordance with Article 19(1) of the Market
Abuse Regulation,
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Colin Bird
----------------------------------------- ----------------------------------------
2 Reason for notification
-----------------------------------------------------------------------------------
a) Position / status Chairman
----------------------------------------- ----------------------------------------
b) Initial notification Initial
/Amendment
----------------------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer
or auction monitor
-----------------------------------------------------------------------------------
a) Name Galileo Resources plc
----------------------------------------- ----------------------------------------
b) LEI 213800KSRIVLX7BJSP45
----------------------------------------- ----------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions
have been
conducted
-----------------------------------------------------------------------------------
a) Description of the financial instrument, Ordinary shares of 0.1 pence each in
type of instrument Galileo Resources plc
Identification code Warrants to subscribe for Ordinary
Shares
ISIN GB00B115T142
----------------------------------------- ----------------------------------------
Nature of the transaction Purchase of new ordinary shares and
associated Warrants as described above
----------------------------------------- ----------------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0.40 pence 5,000,000
0.60 pence 5,000,000
-----------
----------------------------------------- ----------------------------------------
d) Aggregated information n/a
----------------------------------------- ----------------------------------------
e) Date of the transaction Xx October 2019
----------------------------------------- ----------------------------------------
f) Place of the transaction Off market
----------------------------------------- ----------------------------------------
Richard Wollenberg 1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Wollenberg
--------------------------- ----------------------------------------
2 Reason for notification
---------------------------------------------------------------------
a) Position / status Non-Executive Director
--------------------------- ----------------------------------------
b) Initial notification Initial
/Amendment
--------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Galileo Resources plc
--------------------------- ----------------------------------------
b) LEI 213800KSRIVLX7BJSP45
--------------------------- ----------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of Ordinary shares of 0.1 pence each in
the financial instrument, Galileo Resources plc
type of instrument Warrants to subscribe for Ordinary
Identification Shares
code ISIN GB00B115T142
--------------------------- ----------------------------------------
Nature of the transaction Purchase of new ordinary shares and
associated Warrants as described above
--------------------------- ----------------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0.40 pence 500,000
0.60 pence 500,000
-----------
--------------------------- ----------------------------------------
d) Aggregated information n/a
--------------------------- ----------------------------------------
e) Date of the transaction Xxx October 2019
--------------------------- ----------------------------------------
f) Place of the transaction Off market
--------------------------- ----------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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of this information may apply. For further information, please
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END
DSHGIBDGBBBBGCI
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October 18, 2019 04:14 ET (08:14 GMT)
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