Pelican House
Mining plc
(the "Company" or
"Pelican House Mining")
Proposed Change of
Investment Strategy; Conditional Share Placing
Proposed Change of Investment Strategy
The Board of Pelican House Mining today announces that it
intends to seek shareholders’ approval for, inter alia, the
adoption of an investment strategy focusing on generating an
attractive rate of return for shareholders by the provision of
finance to businesses within the sports and leisure sectors
together with their associated intellectual property, media,
technology and infrastructure.
A circular (“Circular”) is being prepared and shall shortly be
issued, which will set out the reasons that the Directors consider
it to be in the best interests of the Company and of its
shareholders as a whole for this to occur; and to seek
shareholders’ approval for this and other measures at a General
Meeting to be convened for the purpose.
Conditional Placing of Equity
The Company further announces that, conditional only upon the
passing of the resolutions to be placed before shareholders at the
forthcoming General Meeting, full details of which shall be set out
in the Circular, it has arranged to raise approximately £60,000
before expenses through a placing (the “Placing”) of 13,333,333 new
ordinary shares of 0.1 pence each in
the capital of the Company (the “Placing Shares”) at 0.45 pence per share (the “Placing Price”) with
Eight Capital Partners plc (the “Investor”). The Investor will also
receive 13,333,333 warrants over a like number of new ordinary
shares, each with a life of three years from the date of issue and
exercisable at the Placing Price. Owing to the common directorships
of John Treacy of the Company and of
the Investor, the Placing will be a related party transaction.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 (Market Abuse
Regulation).
Simon Grant-Rennick,
Chairman,
Pelican House Mining plc,
London, 6th
December 2018
The foregoing announcement has been issued after due and careful
enquiry; the Directors of Pelican House Mining accept
responsibility for its content.
Enquiries:
Pelican House Mining plc:
Simon Grant-Rennick
E-mail: contact@pelicanhousemining.co.uk;
sgrelk@aol.com
Tel:
+ 44 797 325 3124
Keith, Bayley, Rogers & Co. Limited: Graham Atthill-Beck
E-mail:
Graham.Atthill-Beck@kbrl.co.uk /
blackpearladvisers@gmail.com
Tel:
+44 20 7464 4091
Mob:
+44 750 643 4107; +971 50 856 9408
Brinsley Holman
E-mail:
Brinsley.Holman@kbrl.co.uk
Tel:
+44 20 7464 4098