Global Resources Investment Tst PLC Accounts delay, temporary suspension, placing (6029R)

TIDMGRIT

RNS Number : 6029R

Global Resources Investment Tst PLC

30 June 2020

Global Resources Investment Trust Plc

("GRIT" or the "Company")

Delay in Accounts, Temporary Suspension,

Placing to Raise GBP167,858

Global Resources Investment Trust Plc ("GRIT"), announces that due to continuing delays in producing its accounts due to the impact of Covid 19, it has become apparent that the Company will not be in a position to publish its audited report and accounts for the year ended 31 December 2019 by 30 June 2020, the date by which GRIT must make public its Accounts under the extension to DTR 4.1.3 granted to the Company on 30 April 2020.

The Company's shares will therefore be suspended from listing on the Official List from 7.30am on 1 July 2020. The Company will request a restoration of its listing once the Company's audited report and accounts for the year ended 31 December 2019 have been published.

In addition, GRIT is pleased to announce that it has conditionally raised GBP167,858 with the issue of 8,392,902 new ordinary shares at 2p per share (the "Placing"), before expenses, in order to settle creditors and for working capital purposes. The Placing is conditional upon the resumption of trading in GRIT's ordinary shares following the release of its audited report and accounts and admission of these shares to the Official List.

Subject to the above conditions being met, the Company will have 50,357,414 ordinary shares in issue, none of which will be held in treasury. Accordingly, the total number of voting rights in the Company will be 50,357,414 and shareholders may use this figure 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 Guidance and Transparency Rules.

The Directors accept responsibility for this announcement.

Market Abuse Regulation (MAR) disclosure

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 
  Global Resources Investment Trust    Tel: +44 (0) 203 198 2554 
   PLC 
  Martin Lampshire 
                                     --------------------------- 
 
  Beaumont Cornish Ltd                 Tel: +44 (0) 207 628 3396 
                                     --------------------------- 
  Roland Cornish 
   Felicity Geidt 
                                     --------------------------- 
 
 
  Peterhouse Capital Limited           Tel: +44 (0) 207 469 0930 
                                     --------------------------- 
  Lucy Williams 
   Duncan Vasey

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END

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