Metminco Limited Announcement re: Rights Issue (5447L)
20 April 2018 - 4:00PM
UK Regulatory
TIDMMNC
RNS Number : 5447L
Metminco Limited
20 April 2018
AIM ANNOUNCEMENT 20 April 2018
NOTIFICATION OF SHORTFALL
Metminco Limited ("Metminco" or the "Company") (ASX: MNC; AIM:
MNC) advises that the renounceable entitlement issue announced on
23 March 2018 of 9.5 New Shares for every 2 Shares at an issue
price of $0.008 per New Share together with 1 free attaching New
Option (exercisable at $0.011 during the Exercise Period) for every
3 New Shares subscribed for and issued has closed.
The results of the Entitlement Offer are as follows:
Total Number of New Shares offered 694,831,892
Number of Entitlements applied for 416,151,100
------------
Number of Additional Entitlements applied
for 87,118,643
------------
Total Number of New Shares applied for 503,269,743
------------
Shortfall Shares to be placed with the
Underwriter 191,562,149
------------
The Shortfall of 191,562,149 New Shares will be placed with the
Underwriter, Patersons Securities Limited. The Company has notified
the Underwriter of the Entitlement Offer Shortfall and it is
expected that the Shortfall Shares, New Shares and New Options will
be issued on 24 April 2018 as per the timetable. The Top-Up
Placement was not invoked due to acceptances being below 80%.
On completion of the transaction, the Entitlement Offer is
expected to raise approximately $5.56 million before costs.
The Executive Chairman, Mr Kevin Wilson commented "We are
pleased with the take-up of approximately 72% of the rights,
including additional take-up by shareholders. Once the shortfall
funds are received, and the shares issued, the Company will soon
commence its drilling program at Tesorito, part of the Quinchia
Gold Project, Colombia."
Kevin Wilson
Executive Chairman
For further information, please contact:
METMINCO LIMITED
Graeme Hogan Office: +61 (0) 2 9460 1856
NOMINATED ADVISOR AND BROKER
RFC Ambrian
Australia
Andrew Thomson/Alena Broesder Office: +61 (0) 2 9250 0000
United Kingdom
Charlie Cryer Office: +44 (0) 20 3440
6800
PUBLIC RELATIONS
Camarco
United Kingdom
Gordon Poole / Nick Hennis Office: + 44 (0) 20 3757
4997
Media + Capital Partners
Australia
Luke Forrestal Office: +61 (0) 411 479
144
Forward Looking Statement
All statements other than statements of historical fact included
in this announcement including, without limitation, statements
regarding future plans and objectives of Metminco are
forward-looking statements. When used in this announcement,
forward-looking statements can be identified by words such as
"anticipate", "believe", "could", "estimate", "expect", "future",
"intend", "may", "opportunity", "plan", "potential", "project",
"seek", "will" and other similar words that involve risks and
uncertainties.
These statements are based on an assessment of present economic
and operating conditions, and on a number of assumptions regarding
future events and actions that, as at the date of this
announcement, are expected to take place. Such forward-looking
statements are not guarantees of future performance and involve
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are beyond the control of the
Company, its directors and management of Metminco that could cause
Metminco's actual results to differ materially from the results
expressed or anticipated in these statements.
The Company cannot and does not give any assurance that the
results, performance or achievements expressed or implied by the
forward-looking statements contained in this announcement will
actually occur and investors are cautioned not to place undue
reliance on these forward-looking statements. Metminco does not
undertake to update or revise forward-looking statements, or to
publish prospective financial information in the future, regardless
of whether new information, future events or any other factors
affect the information contained in this announcement, except where
required by applicable law and stock exchange listing
This information is provided by RNS
The company news service from the London Stock Exchange
END
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April 20, 2018 02:00 ET (06:00 GMT)
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