Global Resources Investment Tst PLC Fundraising and Board Change (1622H)
02 August 2021 - 4:00PM
UK Regulatory
TIDMGRIT
RNS Number : 1622H
Global Resources Investment Tst PLC
02 August 2021
2 August 2021
GLOBAL RESOURCES INVESTMENT TRUST PLC
("GRIT" or "the Company")
Fundraising & Board Change
The Directors of GRIT are pleased to announce that GBP599,201 of
new financing (before expenses) has been secured by way of a
fundraising (the "Fundraising") undertaken by Peterhouse Capital
Limited ("Peterhouse"), via a placing of Convertible Loan Notes
("Loan Notes") to new and existing investors (the "Investors"). The
Loan Notes have a conversion price of 0.25 pence per new ordinary
share.
The issue of the CLNs forms part of a wider transaction pursuant
to which Peterhouse placed 18,288,131 existing shares (the
"Existing Shares") in the Company with the Investors, pro-rata to
their participation in the Fundraise. The Existing Shares have been
acquired at a price of 2.75 pence per ordinary share.
The net proceeds of the Fundraising will provide the Company
with additional working and investment capital to support the
exploitation of investment opportunities in the junior mining and
natural resource sectors.
Following the recent publication of the Company's Annual Results
for the year ending 31December 2020 and the restoration of trading
in GRIT's shares on 28 July 2021, Stephen Roberts has decided to
resign from the board. We would like to thank Steve for his
valuable contribution over the last two years.
It is the intention of the Company to seek to appoint additional
Executive and Non-Executive Directors as soon as practically
possible; and conversations are well advanced in this regard.
Further information on the Convertible Loan Notes
The Convertible Loan Notes, which have a final repayment date of
30 July 2022, are interest free, unsecured and are mandatorily
convertible at a price of 0.25 pence per ordinary share in the
Company at the publication by the Company of a prospectus which
covers the admission of the ordinary shares arising on conversion
of the Loan Notes to listing on the Official List and to trading on
the London Stock Exchange's main market for listed securities.
Following completion of the above fundraising, Gledhow
Investments plc will no longer hold any shares in the Company.
For further information, please contact:
Global Resources Investment Trust Tel: +44 (0) 203 198
PLC 2554
Martin Lampshire
----------------------
Beaumont Cornish Limited Tel: +44 (0) 207 628
3396
----------------------
Roland Cornish
Felicity Geidt
----------------------
Peterhouse Capital Limited Tel: +44 (0) 207 469
0930
----------------------
Lucy Williams
Duncan Vasey
----------------------
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2012 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
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END
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