Stratmin Global Resources PLC Issue of Equity (1383O)
September 17 2013 - 2:00AM
UK Regulatory
TIDMSTGR
RNS Number : 1383O
Stratmin Global Resources PLC
17 September 2013
17 September 2013
StratMin Global Resources Plc
("StratMin" or the "Company")
Issue of Shares
StratMin (AIM: STGR), the graphite production and exploration
company with assets in Madagascar, is pleased to announce that it
has raised gross proceeds of GBP750,000 by means of a placing of
new ordinary shares ("the Placing"). The Placing is comprised of
4,166,667 new ordinary shares of four pence each ("New Ordinary
Shares") in the Company at a price of 18 pence per share and 100%
warrant coverage for a period of nine months from the Admission
Date at 20 pence per share.
Application has been made for the New Ordinary Shares to be
admitted to trading on AIM and it is expected that trading will
commence on or around 20 September 2013. On Admission of the New
Ordinary Shares, the Company will have 69,701,254 ordinary shares
of four pence each in issue.
The funds raised will be used by the Company to invest in
further upgrades at the Lohorano plant in order to increase the
produced graphite carbon content grade, and for working capital as
the Company works towards cashflow break even.
Manoli Yannaghas, StratMin's Managing Director said: "This is a
very positive development for StratMin and is, I believe, an
endorsement of our strategy to grow the Company."
For further information please visit www.stratminglobal.com or
contact:
+44 (0) 20 7467
StratMin Global Resources Plc 1700
Manoli Yannaghas (Managing Director)
Peel Hunt LLP (Nomad & Broker) +44 (0) 20 7418
Matthew Armitt / Harry Florry 8900
Tavistock Communications (Financial PR & IR)
+44 (0) 20 7920
Simon Hudson / Conrad Harrington 3150
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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