Paternoster Resources PLC Equity placing (7889F)
31 Octubre 2018 - 1:00AM
UK Regulatory
TIDMPRS
RNS Number : 7889F
Paternoster Resources PLC
31 October 2018
31 October 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR"). IN
ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN
RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE
RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION
AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS
ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN
ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN
RELATION TO THE COMPANY AND ITS SECURITIES
Paternoster Resources plc
("Paternoster" or the "Company")
Equity placing
On 19 September 2018, the Company announced its interim results
for the six months to 30 June 2018. These results recorded a
significant improvement in the financial performance of the Company
as a result of its partnership with RiverFort Global Capital
Limited ("RiverFort"), the specialist arranger of funding solutions
to junior companies. On 10 October 2018, the Company announced that
it had now deployed over GBP1.8 million in Riverfort-arranged
investments. At the Company's Annual General Meeting held on 26
October 2018, shareholders overwhelmingly approved all resolutions,
including a change in the Company's name to RiverFort Global
Opportunities plc, in order to present a clearer market presence
for investment and to better reflect the Company's investment focus
going forward.
Given the significant progress that has been achieved by the
Company to date, there has been increased interest in the Company
from its institutional shareholder base. Against the background of
this increased investor interest, the Company has decided to raise
some additional funds. The Board believes that it is in the
interests of the Company to increase the depth of its shareholder
base. Furthermore, with markets becoming increasingly uncertain,
the number of investment opportunities available to the Company is
expected to increase and so it makes sense to raise additional
investment funds to take advantage of such opportunities.
Paternoster is therefore pleased to announce that the Company
has placed (subject to admission to trading on AIM) 500,000,000 new
ordinary shares in the Company (the "Placing Shares") at a price of
0.1 pence per share to raise gross proceeds of GBP500,000 (the
"Placing"). The Placing Shares have been placed at the same price
that funds were raised at in June 2018 and at a price equivalent to
the closing mid price of the shares on 30 October 2018.
Nicholas Lee, Chairman said:
"I am delighted that the progress of the Company is being
recognised and that our strategy is being well supported by our
shareholders. We are continuing to see a number of exciting
investment opportunities and are confident in being able to deploy
our investment funds effectively "
Application will be made for the Placing Shares to be admitted
to trading on AIM ("Admission") and it is expected that Admission
will become effective on or around 6 November 2018. The Placing
Shares will rank pari passu with the existing ordinary shares of
0.1 pence par value each ("Ordinary Shares").
Following the issue of the Placing Shares, the Company will have
6,789,335,226 Ordinary Shares in issue, each share carrying the
right to one vote. The Company does not hold any Ordinary Shares in
treasury. The above figure of 6,789,335,226 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 Conduct
Authority's Disclosure Guidance and Transparency Rules.
For more information please contact:
Paternoster Resources plc: +44 20 7580 7576
Nicholas Lee, Chairman
Nominated Advisor:
Beaumont Cornish +44 20 7628 3396
Roland Cornish
Joint Broker:
Shard Capital Partners LLP +44 20 7186 9950
Damon Heath
Erik Woolgar
Joint Broker to the Placing:
WH Ireland +44 207 220 1666
Harry Ansell
Joint Broker:
Peterhouse Corporate Finance +44 20 7562 3351
Lucy Williams
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
IOEMMBTTMBTJTFP
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