Rambler Metals & Mining PLC Update on Transaction (6066H)
04 December 2020 - 9:11PM
UK Regulatory
TIDMRMM
RNS Number : 6066H
Rambler Metals & Mining PLC
04 December 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014
4 December 2020
Update on Equity Raising, Note Financing and Conversion of
Loans
London, England, Newfoundland and Labrador, Canada - Rambler
Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a
copper and gold producer, explorer, and developer, is pleased to
announce that further to the announcement of 3 December 2020, the
proposed note financing of US$5 million has now been documented and
is unconditional in all respects except for Admission, as described
below.
Completion of the equity raising, note financing and conversion
of loan notes, further details of which were set out in the
Company's announcement of 13 November 2020, is now only conditional
on admission of the Placing Shares, CLN Shares and Bridging Shares
to trading on AIM which is now expected to occur at 8.00a.m. on 8
December 2020 ("Admission").
It is therefore expected that trading on AIM in the Company's
ordinary shares of 0.01 pence each will be restored at 11:00 a.m.
on 4 December 2020.
Total voting rights
With effect from 3 December 2020, following shareholder approval
of the share reorganisation to subdivide each existing ordinary
share of 1 pence each ("Existing Ordinary Share") into one new
ordinary share of 0.01 pence each ("New Ordinary Share") and one
deferred share of 0.99 pence each, the issued ordinary share
capital of the Company consists of 1,296,411,642 New Ordinary
Shares. As previously advised by the Company, this share
reorganisation did not change the number of ordinary shares held by
a shareholder. The Company does not hold any New Ordinary Shares in
Treasury. Therefore, the total number of voting rights in the
Company as at 3 December 2020 was 1,296,411,642, and this figure
may be used by shareholders in the Company 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
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
Following Admission on 8 December 2020, it is expected that the
total number of New Ordinary Shares in issue will be 8,131,810,231.
The total voting rights in the Company will also consist of
8,131,810,231 and this figure may be used by shareholders in the
Company 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 share capital of the Company under
the FCA's Disclosure and Transparency Rules.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November
2012 brought its first mine into commercial production. Rambler has
a 100 per cent ownership in the Ming Copper-Gold Mine, a fully
operational base and precious metals processing facility and
year-round bulk storage and shipping facility; all located on the
Baie Verte peninsula, Newfoundland and Labrador, Canada.
Rambler's focus is to regain its production profile at 1,350
metric tonnes per day at 2% Cu in the course of 2021 and evaluate
expansion opportunities from that base. Along with the Ming Mine,
Rambler also owns 100 per cent of former producing Little Deer /
Whales Back and Ming West copper mines.
Rambler is listed in London under AIM:RMM.
For further information, please contact:
Toby Bradbury Sanjay Swarup T im Sanford. P. Eng.
President and CEO CFO Vice President and
Rambler Metals & Mining Rambler Metals & Mining Corporate Secretary
Plc Plc Rambler Metals & Mining
Tel No: +44 (0) 20 Tel No: +44 (0) 20 Plc
7 096 0 662 7096 0662 Tel No: +1 (709) 532
Fax No: +44 (0) 20 Fax No: +44 (0) 20 5736
860 9 0 313 8609 0313 Fax No: +1 (709) 8 00
1 921
Nominated Advisor (NOMAD)
Ewan Leggat, Caroline
Rowe
SP Angel Corporate
Finance LLP
Tel No: +44 (0) 20
3470 0470
Website: www.ramblermines.com
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END
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