Scotgold Resources Ltd Appointment of broker (7544K)
April 20 2015 - 11:24AM
UK Regulatory
TIDMSGZ
RNS Number : 7544K
Scotgold Resources Ltd
20 April 2015
SCOTGOLD RESOURCES LIMITED
APPOINTMENT OF JOINT BROKER & FUND RAISING
Scotgold (ASX:SGZ, AIM: SGZ) is pleased to announce the
appointment of Vicarage Capital Limited ("Vicarage") as the
Company's joint broker.
Further to Vicarage's appointment, Scotgold is delighted to
announce that Vicarage has placed 90,000,000 new ordinary Scotgold
shares ("Shares") at an issue price of GBP0.005p each with new
shareholders to raise GBP450,000 (before brokerage fees of 6%) for
the Company ("Placement"). The funds raised will be used to
complete the Company's ongoing technical studies.
Completion of the Placement is scheduled to occur, and the
90,000,000 new Shares are expected to be issued on or about 5 May
2015 and admitted to trading on AIM and the ASX on or about 7 May
2015. The Shares issued under the Placement will rank pari passu
with existing Scotgold Shares.
The new Shares are being issued under the company's 15% capacity
under ASX Listing Rule 7.1
Total Voting Rights
Following Admission, the Company's enlarged issued share capital
will comprise 1,135,392,472 Shares, with voting rights. The Company
does not hold any Shares in treasury. Therefore the total number of
Shares in the Company with voting rights will be 1,135,392,472.
This figure may be used by shareholders in the Company 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.
Richard Gray, Chief Executive Officer commented: "The level of
support demonstrated by this fundraising from new shareholders is
extremely encouraging. The Company is now well placed to complete
the ongoing technical studies with an update on the revised mining
schedule, including the impact of the January 2015 Resource
estimate, expected to be announced by the end of May 2015 and the
full study results by the end of July 2015. Following on from these
the Company will negotiate the finance necessary for the
construction of the Cononish Project."
United Kingdom:
Scotgold Resources Limited Westhouse Securities Limited Capital Markets Consultants
Richard Gray
Chief Executive Officer Martin Davison Simon Rothschild
Tel: +44 (0)7905 884 021 Tel: +44 (0)20 7601 6100 Tel +44 (0)7703 167 065
This information is provided by RNS
The company news service from the London Stock Exchange
END
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