Issue of Equity (6236D)
May 18 2012 - 2:00AM
UK Regulatory
TIDMSTGR
RNS Number : 6236D
Stratmin Global Resources PLC
18 May 2012
StratMin Global Resources plc
(AIM: STGR)
FURTHER INVESTMENT IN GRAPHMADA GRAPHITE PROJECT
AND ISSUE OF EQUITY
Further to the announcement of 13 April 2012, StratMin Global
Resources plc ("StratMin" or the "Company") is pleased to announce
that it is to increase its investment participation in Graphmada
Equity Pte Ltd ("Graphmada"), an advanced stage graphite mining and
production company with operations in Madagascar.
This further investment is to be made via the acquisition by the
Company of GBP295,000 of 8% convertible loan notes (the "Notes"),
which gives Stratmin the ability to increase its ownership position
in the Graphmada graphite project.
The investment has been funded via the issue of 4,916,667 new
shares in StratMin ("New StratMin Shares") at 6p (a 14.3% premium
to the closing price on Thursday 17 May of 5.25p).
Application will be made for the 4,916,667 New StratMin Shares
to be admitted to AIM, which is expected to take place on 24 May
2012. The New StratMin Shares will, when issued, rank pari passu
with the existing ordinary shares in issue.
Following admission, the Company's enlarged issued share capital
will comprise 81,788,712 ordinary shares with one voting right per
share.
Gobind Sahney, Chairman of StratMin, said: "We have taken the
opportunity to increase our investment in Graphmada based on our
growing appreciation of the potential of the project. The StratMin
Board and the Graphmada team continue to work together implementing
the Graphmada business model and we remain confident that our
investment in Graphmada will provide an attractive return to our
shareholders".
--ENDS--
Enquiries:
StratMin Global Resources plc
Gobind Sahney +44 (0) 207 467 1700
Libertas Capital Corporate Finance Limited
Sandy Jamieson +44 (0) 207 569 9650
Rivington Street Corporate Finance
Jon Levinson +44 (0) 20 7 562 3357
This information is provided by RNS
The company news service from the London Stock Exchange
END
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