Cadence Minerals PLC Result of Placing & Subscription and TVR (5353A)
February 03 2022 - 1:59AM
UK Regulatory
TIDMKDNC
RNS Number : 5353A
Cadence Minerals PLC
03 February 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY
OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY
SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR
ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE
OF ANY SECURITIES OF CADENCE MINERALS PLC IN ANY JURISDICTION IN
WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or the "Company")
Result of Placing & Subscription and Total Voting Rights
Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to
announce that it has successfully raised gross proceeds of GBP4.1
million in an oversubscribed fundraising as announced yesterday
(the "Placing").
A total of 19,512,180 Placing Shares in the Company have been
placed by WH Ireland Limited ("WH Ireland") with new and existing
investors at a price of 20.5 pence per share (the "Issue
Price").
In addition, the Company has secured a further GBP0.1 million
via a direct subscription (the "Subscription") of 487,805 shares at
the Issue Price (the "Subscription Shares").
The fundraise was significantly oversubscribed in both the
Placing and Subscription and the Directors of the Company are
delighted by the support from existing shareholders and new
investors, including institutional investors.
Application will be made to the London Stock Exchange for the
Placing Shares and Subscription Shares to be admitted to trading on
AIM and to the AQSE Growth Market and it is anticipated that
dealings in the Placing and Subscription Shares will commence on
AIM at 8.00 a.m. on 10 February 2022 ("Admission"). The Placing and
Subscription Shares will represent approximately 11.9 per cent. of
the Company's issued share capital following completion of the
Placing ("Enlarged Share Capital"). The Issue Price represents a
discount of approximately 17.1 per cent. to the closing mid-market
price of Cadence's existing ordinary shares of 24.75 pence on 1
February 2022 (being the last business day prior to the
announcement of the Placing yesterday).
Following Admission, the Company's issued and fully paid share
capital will consist of 168,049,083 Ordinary Shares, all of which
carry one voting right per share. The Company does not hold any
Ordinary Shares in treasury. The figure of 168,049,083 Ordinary
Shares may be used by shareholders as the denominator for the
calculation 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 Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority.
Capitalised terms used but not defined in this announcement have
the meanings given to them in the Company's announcement released
earlier today in respect of the Placing unless the context provides
otherwise.
Enquiries:
Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce / Darshan Patel
Harry Ansell / Daniel Bristowe
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss
This announcement includes inside information as defined in
Article 7 of the UK version of Market Abuse Regulation No. 596/2014
as it forms part of UK law as retained EU law as defined in, and by
virtue of, the European Union (Withdrawal) Act 2018, as amended,
and is disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
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