Thor Mining PLC Result of General Meeting (2783M)
July 27 2017 - 5:00AM
UK Regulatory
TIDMTHR
RNS Number : 2783M
Thor Mining PLC
27 July 2017
27 July 2017
THOR MINING PLC
RESULT OF GENERAL MEETING
Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR), the
Australian tungsten and gold explorer and developer, announces that
at the General Meeting of the Company which was held earlier today,
all resolutions were duly passed without amendment.
As a result, the directors have been granted the necessary
authorities to issue equity securities and dis-apply pre-emption
rights up to an aggregate nominal amount of GBP37,000.
Accordingly, the Directors have been granted the necessary
authorities to complete the placing, announced on 20 June 2017, of
a total 51,111,111 ordinary shares of 0.01p each ("Ordinary
Shares") at a price of 0.9p each (the "Placing and Subscription"),
together with one free attaching warrant for every Ordinary Share
subscribed for, each valid for a period of 24 months and with an
exercise price of 1.8p per warrant. In addition, as required by ASX
Listing Rule 10.11, shareholders approved the participation of Mick
Billing and Paul Johnson in the Placing and Subscription.
The directors also have the relevant authorities to be able to
issue and allot up to a maximum of 52,777,777 Ordinary Shares as
consideration for the acquisition of the remaining 75% of US
Lithium Pty Limited ("USL") that it does not already own, should
the Board exercise the Company's right to do so (refer to the
Company's announcement dated 14 June 2017). The Company is
currently progressing with its due diligence process into USL.
Pursuant to ASX Listing Rule 10.11, shareholders approved the
grant of 3,000,000 warrants over Ordinary Shares to each of the
Directors of the Company or their nominees, with an exercise price
of 1.8 pence each and an expiry date of 31 March 2020.
The remaining approved resolutions relate to the ratification,
for the purposes of ASX Listing Rule 7.4, of a number of securities
previously issued by the Company utilising existing authorities
conferred by shareholders and available capacity under ASX Listing
Rules 7.1 and 7.1A. The approved resolutions act to retrospectively
provide shareholder approval and the securities previously issued
will, therefore, not be counted as having utilised capacity under
ASX Listing Rules 7.1 and 7.1A. This has the effect of 'refreshing'
the Company's available capacity under the ASX Listing Rules to
issue equity securities.
Settlement and dealings
Application has been made to the AIM Market of the London Stock
Exchange ("AIM") for a total of 51,111,111 Ordinary Shares,
pursuant to the Placing and Subscription, which rank pari passu
with the Company's existing issued Ordinary Shares, to be admitted
to trading. Dealings on AIM are expected to commence at 8:00am on
28 July 2017 ("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission, Thor
will have 424,124,319 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
424,124,319 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 Company, under the ASX Listing Rules or the
DTRs.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining PLC Executive Chairman
1935
Ray Ridge +61 (8) 7324 Thor Mining PLC CFO/Company
1935 Secretary
Colin Aaronson/ +44 (0) 207 Grant Thornton UK Nominated Adviser
Daniel Bush/ 383 5100 LLP
Richard Tonthat
Elliot Hance +44 (0) 207382 Beaufort Securities Joint Broker
8300 Limited
Nick Emerson +44 (0) 1483 SI Capital Ltd Joint Broker
413 500
Tim Blythe/ +44 (0) 207 Blytheweigh Financial PR
Camilla Horsfall 138 3222
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, and on the Company's
twitter page @ThorMining.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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