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
25 June 2018
Tri-Star Resources
plc ("Tri-Star" or the "Company")
Result of
Placing
Tri-Star is pleased to announce that further to the announcement
released at 7:00a.m. on 22 June 2018, the Company has successfully raised
£13.0m (before expenses) by way of a placing (the “Placing”) of
30,232,558 new ordinary shares in the Company of 5 pence each (“Placing Shares”) at a price of
43 pence each (the “Placing Price”),
conditional on approval from shareholders.
Details of the Placing
26,199,303 Placing Shares have been allocated to funds under the
discretionary management of Odey Asset Management LLP (“the Odey
Funds”) for £11.27 million and 4,033,255 Placing Shares for £1.73
million have been allocated to other existing shareholders and new
investors.
The issue of the Placing Shares is subject to the approval of
shareholders of resolutions to authorise the allotment of equity
securities at the General Meeting which, as previously announced,
is scheduled to take place at 10:00a.m. on 10 July
2018.
Application will be made for 30,232,558 Placing Shares, which
will rank pari passu with the existing ordinary shares of 5p each
in the Company (“Ordinary Shares”), to be admitted to trading on
the AIM Market of the London Stock Exchange (“Admission”). It is
expected that Admission will occur at 8:00a.m. on or around 12
July 2018.
Following Admission, the Odey Funds will hold 67,805,797
ordinary shares in the Company, representing approximately 72.06%
per cent. of the Company’s total enlarged issued share capital.
ENDS
Enquiries:
Tri-Star Resources plc |
Tel: +44 (0)20 7653 6291 |
Karen O’Mahony, Acting Chief
Executive Officer |
Email:
ceo@tri-starresources.com |
SP Angel Corporate Finance (Nomad
and broker) |
Tel: +44 (0) 20 3470 0470 |
Robert Wooldridge / Jeff
Keating |
|