TIDMAPF
RNS Number : 7777V
Anglo Pacific Group PLC
01 February 2017
News Release
1 February, 2017
Anglo Pacific Group PLC
Results of Placing
Anglo Pacific Group PLC ("Anglo Pacific", the "Company") (LSE:
APF, TSX: APY) is pleased to announce the results of the equity
placing announced by the Company earlier today.
A total of 10,960,000 new ordinary shares of 2 pence each in
Anglo Pacific (the "Placing Shares") have been conditionally placed
at a Placing Price of 125 pence per Placing Share, to raise
aggregate gross proceeds of GBP13.7 million (approximately US$17.1
million) (the "Placing").
The Placing Shares represent approximately 6.4 per cent. of the
Company's issued ordinary share capital prior to the Placing.
The Placing Shares will, when issued, be credited as fully paid
and will rank equally in all respects with the existing ordinary
shares of 2 pence each in the capital of the Company, including the
right to receive all dividends and other distributions declared,
made or paid in respect of such shares after the date of issue of
the Placing Shares.
The Placing Price represents a discount of approximately 5.1 per
cent. to the closing middle market price of 131.75 pence per share
on 31 January 2017, being the last business day prior to the
announcement of the Placing.
Application will be made for the Placing Shares to be admitted
to the standard segment of the Official List and to trading on the
London Stock Exchange's main market for listed securities (together
"Admission"). Admission is expected to occur and dealings in the
Placing Shares are expected to commence on the London Stock
Exchange at 8:00 a.m. on 06 February 2017. An application has been
made to the Toronto Stock Exchange (the "TSX") to list the Placing
Shares.
Following Admission the total issued share capital of the
Company will be 180,902,034 ordinary shares. This figure may be
used by shareholders as the denominator for the calculations by
which they will determine whether they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure Guidance and Transparency
Rules.
The Directors and their connected entities have agreed to
subscribe for shares in the Placing amounting to 91,500 Placing
Shares in aggregate. Immediately following Admission, the
Directors' shareholdings, in aggregate, are expected to represent
3.28 per cent. of the issued ordinary shares of the Company.
Details of the Directors' proposed participation in the Placing
and the Directors' shareholdings as at the date of this
announcement and expected shareholdings immediately following
Admission are set out below:
Name of Director Number Per cent Number Number Per cent
of existing of existing of Placing of ordinary of issued
ordinary ordinary Shares shares ordinary
shares shares held immediately shares
held prior held prior following held immediately
to Admission to Admission Admission following
Admission
Julian Treger 5,546,454 3.26% 40,000 5,586,454 3.09%
David Archer - - 20,000 20,000 0.01%
Patrick Meier 157,318 0.09% 16,000 173,318 0.10%
Rachel Rhodes 15,000 0.01% 7,500 22,500 0.01%
Mike Blyth 118,822 0.07% 8,000 126,822 0.07%
BMO Capital Markets Limited, Macquarie Capital (Europe) Limited
and Peel Hunt LLP are acting as joint bookrunners in connection
with the Placing.
Commenting on the Placing, Julian Treger, Chief Executive
Officer of Anglo Pacific, said:
"We are grateful for the support we have received from new and
existing investors in this fundraising. The money raised will allow
us to complete the conditional financing agreement relating to the
toll milling proceeds from the McClean Lake Mill attributable to
Denison Mines. The transaction is immediately accretive to adjusted
EPS and dividend cover, delivers further diversification of the
royalty portfolio, reduces commodity price risk, and is expected to
have a stable cashflow profile."
For further information:
Anglo Pacific Group PLC +44 (0) 20 3435 7400
Julian Treger - Chief Executive
Officer
Kevin Flynn - Chief Financial
Officer and Company Secretary
Website: www.anglopacificgroup.com
BMO Capital Markets Limited -
Joint Bookrunner +44 (0) 20 7664 8020
Jeffrey Couch / Neil Haycock /
Tom Rider / Jenny Wyllie
Macquarie Capital (Europe) Limited
- Joint Bookrunner +44 (0) 20 3037 2000
Raj Khatri / Nicholas Harland
/ Ariel Tepperman
Peel Hunt LLP - Joint Bookrunner +44 (0) 20 7418 8900
Matthew Armitt / Ross Allister
/ Chris Burrows
Redleaf Communications +44 (0) 20 7382 4769
Charlie Geller / David Ison
About the Company
Anglo Pacific Group PLC is a global natural resources royalty
and streaming company. The Company's strategy is to develop a
leading international diversified royalty and streaming company
with a portfolio centred on base metals and bulk materials,
focusing on accelerating income growth through acquiring royalties
on projects that are in the main currently cash flow generating or
are expected to be within the next 24 months. It is a continuing
policy of the Company to pay a substantial portion of these
royalties and streams to shareholders as dividends.
Disclaimer
This Announcement is for information only and, save as expressly
set out herein, does not constitute an offer or invitation to
underwrite, subscribe for or otherwise acquire or dispose of any
securities or investment advice in any jurisdiction, including
without limitation, United States, Australia, Canada, Japan or
South Africa. In particular, the Company has not registered, and
does not intend to register, any securities under the United States
Securities Act of 1933, as amended (the "Securities Act"), or with
any securities regulatory authority of any state or other
jurisdiction of the United States. Securities cannot be offered or
sold in the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of
the Securities Act and are being offered or sold outside the United
States in accordance with Regulation S under the Securities Act.
There will be no public offering of any securities in the United
States. These materials do not constitute or form part of any offer
to sell or otherwise dispose of, or a solicitation of any offer to
purchase or subscribe for, any securities in the United States or
in any jurisdiction where such offer or solicitation would be
unlawful or would result in a requirement to comply with any
governmental or other consent or any registration, filing or other
formality which the Company regards as unduly onerous. The Placing
Shares have not been, and will not be, qualified for distribution
by prospectus under the securities laws of any province or
territory of Canada and, except with the consent of the Company,
were not offered or sold in Canada or to persons subject to
Canadian securities laws. This Announcement may, in accordance with
applicable Canadian securities laws, be disseminated in Canada for
information purposes.
Persons needing advice should consult an independent financial
adviser.
This Announcement has been issued by and is the sole
responsibility of the Company. No representation or warranty,
express or implied, is or will be made as to, or in relation to,
and no responsibility or liability is or will be accepted by the
Joint Bookrunners or by any of their respective affiliates or
agents as to, or in relation to, the accuracy or completeness of
this Announcement or any other written or oral information made
available to or publicly available to any interested party or its
advisers, and any liability therefore is expressly disclaimed.
BMO Capital Markets, Macquarie Capital and Peel Hunt, each of
which are authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom, are acting exclusively
for the Company and no-one else in connection with the Placing and
will not be responsible to anyone other than the Company for
providing the protections afforded to their respective clients nor
for providing advice in relation to the Placing or any other matter
referred to in this Announcement.
The distribution of this Announcement and the placing of the
Placing Shares as set out in this Announcement in certain
jurisdictions may be restricted by law. No action has been taken by
the Company or the Joint Bookrunners that would permit an offering
of such shares or possession or distribution of this Announcement
or any other offering or publicity material relating to such shares
in any jurisdiction where action for that purpose is required.
Persons into whose possession this Announcement comes are required
by the Company and the Joint Bookrunners to inform themselves
about, and to observe, such restrictions.
In connection with any offering of the Placing Shares, each of
the Joint Bookrunners and any of their respective affiliates may
take up a portion of the securities in the offering as a principal
position and in that capacity may retain, purchase or sell for
their own account such securities. In addition, each of the Joint
Bookrunners or their respective affiliates may enter into financing
arrangements and swaps with investors in connection with which each
of the Joint Bookrunners (or their respective affiliates) may from
time to time acquire, hold or dispose of shares. The Joint
Bookrunners do not intend to disclose the extent of any such
investment or transactions otherwise than in accordance with any
legal or regulatory obligation to do so.
This Announcement contains "forward-looking statements" with
respect to certain of the Company's plans and its current goals or
expectations relating to its future financial condition and
performance. Forward-looking statements typically use
forward-looking terminology such as 'aims', 'believes', 'expects',
'may', 'will', 'could', 'should', 'intends', 'estimates', 'plans',
'assumes' or 'anticipates' or the negative thereof or other words
of similar meaning. These statements are subject to a number of
risks and uncertainties and actual results and events could differ
materially from those currently being anticipated as reflected in
such forward-looking statements. Factors which may cause future
outcomes to differ from those foreseen in forward-looking
statements include, but are not limited to: general economic and
business conditions; demand for the commodities in which the
Company has invested; factors affecting the assets and operations
to which the Company's royalty interests relate; competitive
factors in the industries in which the Company operates; exchange
rate fluctuations; legislative, fiscal and regulatory developments;
political risks; terrorism, acts of war and pandemics; and changes
in law and legal interpretations. Forward-looking statements speak
only as of the date of such statements and, except as required by
applicable law, the Company undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise. The information
contained in this Announcement is subject to change without notice
and neither the Company nor the Joint Bookrunners assume any
responsibility or obligation to update publicly or review any of
the forward-looking statements contained herein. This Announcement
does not identify or suggest, or purport to identify or suggest,
the risks (direct or indirect) that may be associated with an
investment in the Placing Shares.
Any indication in this Announcement of the price at which
Ordinary Shares have been bought or sold in the past cannot be
relied upon as a guide to future performance. No statement in this
Announcement is intended to be a profit forecast and no statement
in this Announcement should be interpreted to mean that earnings
per share of the Company for the current or future financial years
would necessarily match or exceed the historical published earnings
per share of the Company.
Copies of the contents of this Announcement are not being, and
must not be, directly or indirectly, released, mailed, transmitted
or otherwise forwarded, distributed or sent, in whole or in part,
in or into a jurisdiction in which to do the same would be
unlawful, and persons receiving such documents (including, without
limitation, custodians, nominees and trustees) should observe these
restrictions and must not, directly or indirectly, mail, transmit
or otherwise forward, distribute or send any such documents in,
into or from any such jurisdiction. The Company and its advisers do
not assume any responsibility for any violation by any person of
any of these restrictions.
Neither the content of the Company's website nor any website
accessible by hyperlinks on the Company's website is incorporated
in, or forms part of, this Announcement.
The price of shares and any income expected from them may go
down as well as up and an investor may not get back the full amount
invested upon disposal of the shares.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCDMGGZDMFGNZM
(END) Dow Jones Newswires
February 01, 2017 09:53 ET (14:53 GMT)
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