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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February 04, 2022 08:44 ET (13:44 GMT)

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