Pathfinder Minerals Plc Issue of Equity (6247T)
31 March 2016 - 5:01PM
UK Regulatory
TIDMPFP
RNS Number : 6247T
Pathfinder Minerals Plc
31 March 2016
Embargoed: 0700hrs, 31 March 2016
Pathfinder Minerals Plc
("Pathfinder" or the "Company")
Issue of Equity
Further to the subscription announced on 17 March 2016, the
Company is pleased to announce that investor demand through the
PrimaryBid platform has led to the raising of a further GBP100,000
through a subscription for 9,090,909 ordinary shares of 0.1p each
in the Company ("Ordinary Shares") at a price of 1.1p per share
(the "Subscription"). The Subscription price represented a 15%
discount to the closing price on 30 March 2016 and a premium of 24%
to the price of the previous subscription which took place on 17
March 2016. The proceeds of the Subscription will provide the
Company with the ability to continue pursuing the recovery of its
mining licences.
The Company has applied for the admission of the Subscription
shares to trading on AIM which is expected to take place on or
around 7 April 2016 ("Admission"). Following Admission, the
Company's issued share capital will consist of 136,831,656 Ordinary
Shares with no Ordinary Shares held in treasury. Therefore the
above figure of 136,831,656 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 to their
interest in, Pathfinder under the FCA's Disclosure and Transparency
Rules.
PrimaryBid is an online investment platform that allows
investors to gain access to placings, fund raisings and IPOs of
AIM-listed companies.
Nick Trew, CEO, commented:
"I am pleased that the PrimaryBid platform has facilitated this
additional investment into Pathfinder as we continue the strategy
to recover our assets and ultimately to progress their
development."
Enquiries:
Pathfinder Minerals Plc
Nick Trew, Chief Executive
Tel. +44 (0)20 3440 7775
WH Ireland Limited (Nomad and Broker)
Paul Shackleton or Mark Leonard
Tel. +44 (0)20 7220 1666
Vigo Communications (Public Relations)
Ben Simons or Ali Roper
Tel. +44 (0)20 7830 9704
Email. pathfinderminerals@vigocomms.com
PrimaryBid
Dave Mutton or Anand Sambasivan
Tel. +44 (0)20 7491 6519
Email. dave@primarybid.com
Notes to Editors:
Pathfinder Minerals Plc is incorporated in England & Wales
and is admitted to trading on the AIM market of the London Stock
Exchange.
CMdN, a subsidiary of Pathfinder, was issued mining concession
licences 760C and 4623C on 13 September 2004 and 13 July 2011
respectively, each for a period of twenty-five years. Taken
together, these mining concessions cover approximately 32,000
hectares of land on the Indian Ocean coast of the Zambezia province
of Mozambique, known to contain the heavy minerals, ilmenite,
rutile and zircon.
As announced on 3 February 2012, ownership of these licences is
being disputed.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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