Cadence Minerals PLC Open Offer and Posting of Circular (7819A)
04 Febrero 2022 - 7:44AM
UK Regulatory
TIDMKDNC
RNS Number : 7819A
Cadence Minerals PLC
04 February 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY
OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY
SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR
ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE
OF ANY SECURITIES OF CADENCE MINERALS PLC IN ANY JURISDICTION IN
WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or the "Company")
Open Offer and Posting of Circular
Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to
announce that further to the announcement made on 2 February 2022
concerning the "Proposed Placing", the Circular containing further
details of the Open Offer, together with an Open Offer Application
Form for Qualifying non-CREST Shareholders, will be posted to
Shareholders later today.
The Company is mindful of its existing shareholders and wants to
give shareholders the opportunity to invest on the same commercial
terms as those who have participated in the Placing. Consequently,
the Company announces that it proposes to raise up to approximately
GBP1.52 million (before expenses) by way of a conditional Open
Offer of up to 7,432,454 Ordinary Shares (the "Open Offer Shares")
at an Issue Price of 20.5 pence (the "Issue Price"). Pursuant to
the Open Offer, Qualifying Shareholders will be given the
opportunity to subscribe for up to 7,432,454 Open Offer Shares at
the Issue Price, pro rata to their holdings of Existing Ordinary
Shares at the Record Time, on the basis of
1 Open Offer Share for every 20 Existing Ordinary Share
For the avoidance of doubt the Placing Shares to be issued in
relation to the Placing announced on 3 February 2022 are not
eligible to participate in the Open Offer.
Assuming that all the Open Offer Shares are subscribed for the
enlarged share capital of the Company will be 176,081,537.
Expected timetable of principal events
2022
Record Date and time for entitlements under 6.00 p.m. on 2 February
the Open Offer
Announcement of the Open Offer and posting 4 February
of this Document and Application Forms
Existing Ordinary Shares marked 'ex' by London 8.00 a.m. on 7 February
Stock Exchange
Basic Entitlements and Excess Open Offer 8.00 a.m. on 8 February
Entitlements credited to stock accounts in
CREST of Qualifying CREST Shareholders
Recommended latest time for requesting withdrawal 4.30 p.m. on 14 February
of Basic Entitlements and Excess Open Offer
Entitlements from CREST
Latest time for depositing Basic Entitlements 3.00 p.m. on 16 February
and Excess Open Offer Entitlements into CREST
Latest time and date for splitting of Application 3.00 p.m. on 17 February
Forms (to satisfy bona fide market claims
only)
Latest time and date for receipt of completed 11.00 a.m. on 21
Application Forms and payment in full under February
the Open Offer or settlement of relevant
CREST instruction (as appropriate)
Allocation of Excess Shares to Qualifying 21 February
Shareholders
Results of Open Offer announced through an 21 February
RIS
Admission and commencement of dealings in 22 February
the Open Offer Shares
Open Offer Shares credited to CREST stock 22 February
accounts
Despatch of definitive share certificates within 14 days of
for Open Offer Shares held in certificated Admission
form
A copy of the Circular will shortly be available to download
from the Company's website at https://www.cadenceminerals.com/
Capitalised terms used in this announcement have the meanings
given to them in the Circular and the announcement of the 'Proposed
Placing' on 2 February 2022 unless the context provides
otherwise.
Enquiries:
Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce / Darshan Patel
Harry Ansell / Daniel Bristowe
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss
This announcement includes inside information as defined in
Article 7 of the UK version of Market Abuse Regulation No. 596/2014
as it forms part of UK law as retained EU law as defined in, and by
virtue of, the European Union (Withdrawal) Act 2018, as amended,
and is disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
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END
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