TIDMTRR
RNS Number : 4891V
Trident Royalties PLC.
13 December 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO THE UNITED STATES, CANADA OR JAPAN.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF TRIDENT ROYALTIES PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
13(th) December 2021
Trident Royalties plc
(" Trident " or the " Company " )
PrimaryBid Offer
Trident Royalties plc (AIM:TRR, FSX:5KV), the growth-focused
mining royalty and streaming company, is pleased to announce an
offer for subscription via PrimaryBid (the "PrimaryBid Offer") of
new ordinary shares of 1p each in the Company ("New Ordinary
Shares") at an issue price of 36 pence per New Ordinary Share (the
"Issue Price"), being a discount of approximately 5.3% per cent to
the closing mid-price on 10(th) December 2021. The Company is also
procuring subscribers and conducting a firm placing (the "Firm
Placing") and a conditional placing (the "Conditional Placing", and
together with the Firm Placing, the "Placing") of new Ordinary
Shares at the Issue Price by way of an accelerated bookbuild
process lead-managed by Tamesis Partners LLP, Ashanti Capital Pty
Ltd and Stifel Nicolaus Europe Limited as announced earlier today.
The PrimaryBid Offer, Placing and the subscriptions are together
hereafter collectively referred to as the "Fundraising".
The PrimaryBid Offer and the Firm Placing are conditional on the
new Ordinary Shares to be issued pursuant to the PrimaryBid Offer
and the Firm Placing being admitted to trading on 20(th) December
2021 ("Admission"). Admission is expected to be take place at 8.00
a.m. on or around 20(th) December 2021 . The PrimaryBid Offer will
not be completed without the Firm Placing also being completed.
As separately announced today, the Company is pleased to
announce the proposed acquisition of a portfolio of producing gold
offtake streams (the "Portfolio") from funds managed by Orion
Resource Partners ("Orion") for a total consideration of US$69.75
million (the "Acquisition"). Details of the Acquisition are
contained in that announcement.
As of 30 November 2021, the Company had cash at bank and on hand
of approximately US$14.2 million.
The proceeds of the Fundraising of approximately US$35.0
million, before expenses, will be utilised to partly fund the cash
component of the Acquisition consideration, for future royalty and
streaming asset acquisitions, and for general corporate
purposes.
Following the completion of the Fundraising and the Acquisition,
the Company is expected to have pro forma cash of approximately
US$19.2 million before expenses.
The successful completion of the Placing will therefore enable
the Company to complete the Acquisition while maintaining a strong
balance sheet and cash on hand for future royalty and stream
acquisitions.
PrimaryBid Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the PrimaryBid Offer by applying exclusively through
the PrimaryBid mobile app available on the Apple App Store and
Google Play. PrimaryBid does not charge investors any commission
for this service.
The PrimaryBid Offer, via the PrimaryBid mobile app, is open to
individual and institutional investors now and will close at or
before 8 p.m. on 13(th) December 2021 . The PrimaryBid Offer may
close early if it is oversubscribed.
Subscriptions under the PrimaryBid Offer will be considered by
the Company at the company's discretion, subject to conditions
(which are available to view on PrimaryBid.com).
The Company reserves the right to scale back any order at its
discretion. The Company and PrimaryBid reserve the right to reject
any application for subscription under the Offer without giving any
reason for such rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for New Ordinary Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid.com or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or email PrimaryBid.com at enquiries@primarybid.com .
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson +1 (757) 208-5171
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison +44 020 7383 5100
PrimaryBid Limited enquiries@primarybid.com
James Deal / Charles Spencer
Details of the Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the Offer. The Company is therefore making the Offer
available exclusively through PrimaryBid.com.
The Offer is offered under the exemptions against the need for a
prospectus allowed under the Prospectus Rules. As such, there is no
need for publication of a prospectus pursuant to the Prospectus
Rules, or for approval of the same by the Financial Conduct
Authority in its capacity as the UK Listing Authority. The Offer is
not being made into any Restricted Jurisdiction or any other
jurisdiction where it would be unlawful to do so.
There is a minimum subscription of GBP250 per investor under the
terms of the Offer which is open to existing shareholders and other
investors subscribing via PrimaryBid.com.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com . The terms and conditions on which the Offer
is made, including the procedure for application and payment for
New Ordinary Shares, is available to all persons who register with
PrimaryBid.com.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale into the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States,
except pursuant to an applicable exemption from registration. No
public offering of securities is being made in the United
States.
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END
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