Issue of Equity (6852U)
October 20 2010 - 5:43AM
UK Regulatory
TIDMTHR
RNS Number : 6852U
Thor Mining PLC
20 October 2010
THOR MINING PLC
Issue of Equity
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM,
ASX: THR) the exploration company focussed on gold and base metal
projects and advancing tungsten-molybdenum projects in Australia,
advises shareholders that following the announcement on 14 October
the Company has successfully raise approximately AUD$912,000
(approximately GBP570 000 at current exchange rates) by way of a
placing (the "Placing") of 57 000,000 new ordinary shares of 0.3p
each in the capital of the Company (the "Placing Shares") through
the issue of 57,000,000 voting CDI's in the Company (the "CDI's")
at 1.6 cents per CDI to sophisticated investor clients of Patersons
Securities Limited in Australia.
Austock Pty Ltd has agreed to subscribe for 26,562,500 CDI's at
1.6 cents per CDI. Following the subscription, Austock Pty Ltd will
hold 26 562,500 CDI's, which is approximately 6.06% of the issued
share capital of the Company as enlarged by the Placing.
An application has been made to the London Stock Exchange for
the Placing Shares, which will rank pari passu with the Company's
existing issued ordinary shares, to be admitted to trading and
dealings are expected to commence at 8:00 a.m. (BST) on Tuesday 26
October 2010. In Australia an application will be made to the
Australian Securities Exchange (the "ASX") for the quotation of New
CDI's. Dealings are expected to commence on Tuesday 26 October
2010.
Following the issue of the Placing Shares the Company's total
issued share capital will be 438,559,912 ordinary shares of 0.3p
each. In accordance with the Financial Services Authority
Disclosure and Transparency Rules, the Company has 438,559,912
Ordinary Shares of 0.3p each in issue, each share carrying the
right to one vote. The Company does not hold any Ordinary Shares in
Treasury.
The above figure of 438,559,912 Ordinary Shares 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 to their interest in, the share capital of
the Company under the Financial Service Authority's Disclosure and
Transparency Rules.
Enquiries:
Mick Billing + 61 (0)414 741 007 Thor Mining PLC Executive Chairman
=============== ===================== ================ ====================
Laurie Ackroyd +61 (0) 8 8177 8800 Thor Mining PLC CFO/Company
Secretary
=============== ===================== ================ ====================
John Simpson + 44 (0)20 7776 6550 Daniel Stewart Nominated Adviser
& Company Plc
=============== ===================== ================ ====================
Updates on the Company's activities are regularly posted on
Thor's website www.thormining.com, which includes a facility to
register to receive these updates by email.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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