Cobra Resources PLC Results of Placing (3051M)
07 Mayo 2020 - 8:00AM
UK Regulatory
TIDMCOBR
RNS Number : 3051M
Cobra Resources PLC
07 May 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY NEWS SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.
For immediate release
07 May 2020
Cobra Resources plc
("Cobra" or the "Company")
Results of Placing
Cobra Resources plc (LSE: COBR), the owner of the Wudinna Gold
Project on the Eyre Peninsula in the Central Gawler Gold Province,
a 450-kilometre-long arcuate belt in South Australia , announces
the completion of the placing announced earlier today and confirms
that it has placed a total of 30,095,354 ordinary shares (the
"Placing Shares") at a price of 2.25 pence per Placing Share (the
"Placing Price"), raising gross proceeds of approximately
GBP677,145. The Placing Shares being issued represent approximately
19% of Cobra's issued ordinary share capital prior to the Placing.
Peterhouse Capital Limited ("Peterhouse") acted as Joint Brokers in
respect of the Placing.
The Placing Price of 2.25 pence each represents a discount of
23.7% to the middle market price at the time at which Cobra and
Peterhouse agreed the Placing Price.
When issued, the Placing Shares will be credited as fully paid
and will rank pari passu in all respects with the existing ordinary
shares in the share capital of the Company, including the right to
receive all dividends and other distributions declared, made or
paid on or in respect of such shares after the date of issue of the
Placing Shares.
Application will be made to the Financial Conduct Authority
("FCA") for admission of the Placing Shares to the standard listing
segment of the Official List and to the London Stock Exchange (the
"LSE") for admission to trading of the Placing Shares on the LSE's
Main Market for listed securities (together "Admission"). It is
expected that Admission will take place at 8.00 a.m. on 15 May 2020
and that dealings in the Placing Shares on the LSE's main market
for listed securities will commence at the same time.
Total Voting Rights
Following Admission, the Company's total issued share capital
consists of 185,587,499 Ordinary Shares. The Company does not hold
any Ordinary Shares in treasury.
Therefore, following Admission, the total number of voting
rights in Cobra Resources plc is 185,587,499. This figure 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 in their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"),
encompassing information relating to the Placing as described
above, and is disclosed in accordance with the Company's
obligations under Article 17 of MAR.
About the Company:
Craig Moulton, Managing Director of Cobra commented:
"It was pleasing to see this raise oversubscribed demonstrating
the growing support for the Company in the UK capital markets. We
look forward to updating the market in the coming weeks on the
results of the Stage 2 exploration programme at Wudinna"
The person who arranged for the release of this announcement on
behalf of the Company was Craig Moulton, Director of the
Company.
End
Enquiries:
Craig Moulton +61 (0) 40 6932187
Cobra Resources plc Daniel Maling (UK) +44 (0) 758 003 2520
Nick Emerson
SI Capital Limited (Broker) Sam Lomanto +44 (0) 14 8341 3500
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Duncan Vasey
Peterhouse Capital Limited Lucy Williams +44 (0) 20 7469 0932
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END
ROIKZGGKMNVGGZM
(END) Dow Jones Newswires
May 07, 2020 09:00 ET (13:00 GMT)
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