Stratmin Global Resources PLC Completion of £800,000 Placing (5998V)

TIDMSTGR

RNS Number : 5998V

Stratmin Global Resources PLC

29 October 2014

StratMin Global Resources Plc

("StratMin" or the "Company")

Completion of GBP800,000 Placing

StratMin Global Resources Plc (AIM: STGR), the AIM-quoted graphite production and exploration company, announces that it has raised gross proceeds of GBP800,000 through a placing of 11,428,570 new ordinary shares of 4 pence each (the "Ordinary Shares") at a placing price of 7 pence per Ordinary Share (the "Placing Shares") (the "Placing"). The Placing was conducted by Hume Capital Securities plc acting as sole broker with certain existing and new institutional investors (the "Placees").

The Placing follows the signing by the Company of a five year off-take agreement with one of the world's largest independent processors and merchants of graphite (as announced on 21 October 2014), as well as positive exploration results identifying further graphite at its Loharano property (as announced on 23 October 2014).

The net proceeds of the Placing will be used for further investment at the Company's Loharano processing plant and for general working capital purposes.

Issue of Placing Warrants

As part of the Placing, the Company has agreed to issue one warrant for every two Placing Shares subscribed for by Placees, each exercisable at 10 pence at any time before 4 November 2015 (the "Placing Warrants"). The total number of Placing Warrants issued under the Placing will therefore be 5,714,283. The total number of warrants outstanding following the issue of the Placing Warrants will be 19,569,414.

Further Issue of Ordinary Shares

The Company also announces that it has issued 535,714 new Ordinary Shares to an external third party in lieu of GBP37,500 of fees owed to said party (the "Fee Shares").

Admission to Trading and Total Voting Rights

Application has been made to the London Stock Exchange for admission of the Placing Shares and the Fee Shares to trading on AIM ("Admission") and it is expected that Admission will take place and that trading will commence on AIM on or around 4(th) November 2014. Following Admission, the Company will have 112,634,237 Ordinary Shares in issue with each share carrying the right to one vote.

The Company has no Ordinary Shares held in treasury. The total number of voting rights in the Company following Admission will therefore be 112,634,237. 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.

Concert Party

The shareholdings of the individuals set out below, who were deemed by the Panel on Takeovers and Mergers at the time of the Company's reverse takeover of Graphmada Equity Pte Ltd in January 2013 to be acting in concert (the "Concert Party"), before and after the abovementioned Placing and issue of the Fee Shares are set out below:

 
 Name                  Number of       % of Ordinary          Number of        Total shareholding     % of Ordinary 
                        Ordinary     Shares outstanding         Placing             following       Shares outstanding 
                       Shares held        prior to         Shares subscribed       the Placing          following 
                                         the issue            for in the            and issue           the issue 
                                       of the Placing           Placing            of the Fee         of the Placing 
                                         Shares and                                  Shares             Shares and 
                                         Fee Shares                                                     Fee Shares 
-------------------  -------------  -------------------  -------------------  -------------------  ------------------- 
 Caralapati 
  Raghirah 
  Premraj(1)            16,813,319                16.7%                    -           16,813,319                14.9% 
-------------------  -------------  -------------------  -------------------  -------------------  ------------------- 
 Marthinus 
  (Marius) Johannes 
  Hendrik Pienaar       12,150,000                12.1%                    -           12,150,000                10.8% 
-------------------  -------------  -------------------  -------------------  -------------------  ------------------- 
 Mrs Kesava 
  Padmavathi             8,100,000                 8.0%                    -            8,100,000                 7.2% 
-------------------  -------------  -------------------  -------------------  -------------------  ------------------- 
 Mrs Caryl 
  Melissa Jane 
  Pienaar                6,500,000                 6.5%                    -            6,500,000                 5.8% 
-------------------  -------------  -------------------  -------------------  -------------------  ------------------- 
 Ghanshyam 
  Champaklal             5,025,000                 5.0%                    -            5,025,000                 4.5% 
-------------------  -------------  -------------------  -------------------  -------------------  ------------------- 
 Srirekam Kesava 
  Purushotham            2,700,000                 2.7%                    -            2,700,000                 2.4% 
-------------------  -------------  -------------------  -------------------  -------------------  ------------------- 
 Jeffrey Royce 
  Marvin                   916,667                 0.9%                    -              916,667                 0.8% 
-------------------  -------------  -------------------  -------------------  -------------------  ------------------- 
 Total                  52,204,986                51.9%                    -           52,204,986                46.3% 
-------------------  -------------  -------------------  -------------------  -------------------  -------------------

(1) Includes the shares issued to Non-Executive Director, David Premraj, on 31 March 2014

Following completion of the Placing (in which no individual member of the Concert Party has participated) and the issue of the Fee Shares, the Concert Party will hold interests in Ordinary Shares carrying, in aggregate, approximately 46.3 per cent. of the voting rights of the Company.

Manoli Yannaghas, Managing Director, commented:

"Following the positive news last week of the signing of the off-take agreement and the identification of further mineralisation at Loharano, raising GBP800,000 in equity allows the Company to further invest at the plant in both reliability, product volume and product quality. This is essential to ensure that the Company is in the strongest possible position as we resume production and increase sales."

For further information please visit www.stratminglobal.com or contact:

Stratmin Global Resources Plc

Manoli Yannaghas (Managing Director) +44 (0) 20 7467 1700

Strand Hanson Limited (Nominated & Financial Adviser)

James Spinney / Ritchie Balmer +44 (0) 20 7409 3494

Hume Capital Securities plc (Sole Broker)

Jon Belliss / Abigail Wayne +44 (0) 20 3693 1470

Blytheweigh (Financial PR)

Tim Blythe / Halimah Hussain / Camilla Horsfall +44 (0) 20 7138 3204

This information is provided by RNS

The company news service from the London Stock Exchange

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