Golden Saint Resources Ltd Placing (4780P)
November 17 2016 - 6:32AM
UK Regulatory
TIDMGSR
RNS Number : 4780P
Golden Saint Resources Ltd
17 November 2016
17 November 2016
Golden Saint Resources Ltd
("Golden Saint" or the "Company")
Placing
The board of Golden Saint (AIM:GSR) ("Board") is pleased to
announce that on 17 November 2016 the Company raised GBP400,000
before expenses, by way of a placing ("Placing") of 1,333,333,333
new Ordinary Shares of no par value in the Company ("Placing
Shares") at a placing price of 0.03 pence per share (being a
discount of approximately 29.4 per cent. to the closing middle
market price of 0.0425 pence per ordinary share of no par value in
the Company ("Ordinary Share") on 16 November 2016, being the last
practicable date prior to finalising the Placing).
The Placing is conditional only upon admission of the Placing
Shares to trading on AIM and has been carried out within the
Company's existing share authorities.
The Company intends to use the net proceeds of the Placing to
further develop its exploration programs by providing general
working capital for its bulk sampling operations and for the
purchase of plant and equipment.
The Placing Shares will rank pari passu with the existing
Ordinary Shares and application has been made for the Placing
Shares to be admitted to trading on AIM ("Admission"). It is
expected that Admission will become effective and dealings in the
Placing Shares will commence at 8.00 a.m. on 24 November 2016.
Following Admission of the Placing Shares, the Company's issued
share capital will consist of 5,835,056,581 Ordinary Shares with
voting rights. There are no Ordinary Shares held in treasury. This
number 5,835,056,581 may be used by shareholders, following
Admission, 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 share capital of the Company
under the Financial Conduct Authority's Disclosure and Transparency
Rules, of which the Company has incorporated Chapter 5 into its
articles of association.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Golden Saint Resources Ltd Keng Hock Seah +618 6145 4400
Beaumont Cornish Limited Roland Cornish / Emily Staples +44 (0) 20 7628 3396
SVS Securities Plc Tom Curran / Ben Tadd +44 (0)203 700 0093
Cassiopeia Services LTD Stefania Barbaglio +44 (0)7949690338
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 17, 2016 06:32 ET (11:32 GMT)
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