Tri-Star Resources PLC Results of Open Offer (6086B)
January 11 2018 - 4:42AM
UK Regulatory
TIDMTSTR
RNS Number : 6086B
Tri-Star Resources PLC
11 January 2018
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No. 596/2014 until the release of this
announcement.
11 January 2018
Tri-Star Resources plc
("Tri-Star" or the "Company")
Results of Open Offer
On 21 December 2017, Tri-Star (AIM: TSTR) announced a
conditional Open Offer (which subsequently became unconditional) to
raise up to approximately GBP4,420,000 (before expenses) through
the issue of up to 44,204,755,697 ordinary shares of 0.005p each
("Ordinary Shares").
The Company is pleased to announce the results of the Open
Offer, which closed for acceptances at 11.00 a.m. on 10 January
2018 and was oversubscribed. Valid applications have been received
in respect of 108,994,666,346 new Ordinary Shares, representing 247
per cent of the number of new Ordinary Shares available under the
Open Offer. 34,794,932,062 new Ordinary Shares were applied for
under shareholders' Basic Entitlements and applications were
received in respect of 74,199,734,284 new Ordinary Shares under the
Excess Application Facility. The total number of new Ordinary
Shares available under the Excess Application Facility was
9,409,823,635, which meant the Excess Allocation Facility was 7.9
times oversubscribed.
In addition to their Basic Entitlements, Qualifying Shareholders
who have applied for new Ordinary Shares under the Excess
Application Facility will receive 12.68 per cent of the excess
shares applied for by them.
Application has been made for 44,204,755,697 new Ordinary
Shares, to be issued via the Open Offer, to be admitted to trading
on AIM ("Admission"). It is expected that Admission and
commencement of dealings in the new Ordinary Shares will occur at
8.00 a.m. on 12 January 2018. Following Admission, the enlarged
share capital of the Company will consist of 63,850,388,257
Ordinary Shares. No Ordinary Shares are held in treasury.
The above figure of 63,850,388,257 may be used by shareholders
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 FCA's Disclosure
Guidance and Transparency Rules.
Mark Wellesley-Wood, Executive Chairman, commented:
"I thank our shareholders for the support that they have shown
in taking up the Open Offer, which was oversubscribed. The Open
Offer has significantly de-geared our balance sheet and provides
your company with greater flexibility in completing the Oman
Roaster Project, where plant commissioning starts next month."
Enquiries:
Tri-Star Resources plc Tel: +44 (0) 20 3470 0470
Guy Eastaugh, Chief Executive Officer
SP Angel Corporate Finance (Nomad and Broker) Tel: +44 (0) 20 3470 0470
Robert Wooldridge / Jeff Keating
Yellow Jersey PR Limited (Media Relations) Tel: +44 (0) 776 932
5254
Charles Goodwin / Julia Kalcheva / Joe Burgess
This information is provided by RNS
The company news service from the London Stock Exchange
END
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