Red Leopard Holdings PLC Placing to raise £175,000 & loan note conversion (2272V)

TIDMRLH

RNS Number : 2272V

Red Leopard Holdings PLC

05 August 2015

5 August 2015

Red Leopard Holdings Plc

("Red Leopard" or the "Company")

Placing to raise GBP175,000 & loan note conversion

Placing

Red Leopard is pleased to announce that the Company has raised a total of GBP175,000 before expenses through the placing of 175,000,000 ordinary shares of 0.1p each ("Ordinary Shares") at a price of 0.1p each with new investors introduced by Beaufort Securities Limited (the "Placing"). Subscribers for these Ordinary Shares under the Placing will also be granted 1.5 warrants for every 1 share subscribed for under the Placing, to subscribe for further Ordinary Shares at a price of 0.1p per share, valid for 3 years.

Use of funds

The net proceeds of the Placing will enable the Company to access and clear the Idora Tunnel for the purposes of exploration on its mining claims in the vicinity of Shoshone County, Idaho. The Placing will also provide the Company with additional working capital.

Loan note conversion

The Company also announces that it has received a request from City & Westminster Corporate Finance LLP to convert all GBP20,000 of its convertible loan notes currently in issue into 20,000,000 Ordinary Shares at a conversion price of 0.1p (the "Conversion"). Following the Conversion, Red Leopard will no longer have convertible loan notes outstanding and City and Westminster will hold 3.57% of the Company's enlarged issued share capital with voting rights.

Directors' Subscription and related party transaction

The directors of Red Leopard are also subscribing for a total of 131,458,333 Ordinary Shares in the Company, at a price of 0.1p, in order to satisfy their accrued salaries and fees from the last eighteen months (the "Directors' Subscription"). A summary of the Directors' Subscription is set out below:

 
 Director         Holding         Percentage       Number of          Holding         Percentage 
                   prior to        of Ordinary      Ordinary           following       of Ordinary 
                   Directors'      Shares prior     Shares pursuant    Directors'      Shares following 
                   Subscription    to Directors'    to Directors'      Subscription    Placing, 
                                   Subscription     Subscription                       Conversion 
                                                                                       and Directors' 
                                                                                       Subscription 
---------------  --------------  ---------------  -----------------  --------------  ------------------ 
 John May         29,224,571      11.2%            47,916,667         77,141,238      13.16% 
---------------  --------------  ---------------  -----------------  --------------  ------------------ 
 Stuart Adam      10,030,555      3.9%             47,916,667         57,947,222      9.88% 
---------------  --------------  ---------------  -----------------  --------------  ------------------ 
 Howard Crosby    1,215,278       0.5%             35,624,999         36,840,277      6.28% 
---------------  --------------  ---------------  -----------------  --------------  ------------------ 
 Total            40,470,404      15.6%            131,458,333        171,928,737     29.32% 
---------------  --------------  ---------------  -----------------  --------------  ------------------

The Directors' Subscription is classified as a related party transaction in accordance with AIM Rule 13. The Company's Nominated Adviser considers that the terms of the Director's Subscription are fair and reasonable insofar as the Company's shareholders are concerned.

Total voting rights

Application will be made for 326,458,333 new Ordinary Shares to be admitted to trading on AIM, with dealings expected to commence on 19 August 2015. The new Ordinary Shares will, when issued, rank pari passu in all respects with the existing issued shares of the Company. Following admission of the new ordinary shares the Company will have 586,279,061 Ordinary Shares of 0.1p, with voting rights, in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 
 Enquiries: 
  Red Leopard Holdings PLC 
------------------------------------------------------- 
 John May, Chairman           Tel: +44 (0) 207 917 6826 
---------------------------  -------------------------- 
 Northland Capital Partners Limited 
------------------------------------------------------- 
 David Hignell/Gerry Beaney   Tel: +44 (0) 207 382 1100 
---------------------------  -------------------------- 
 Beaufort Securities Limited 
------------------------------------------------------- 
 Zoe Alexander                Tel: +44 (0) 207 382 8300 
---------------------------  --------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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