Resolute Mining Limited Successful completion of retail entitlement offer (8778I)
07 December 2022 - 6:00PM
UK Regulatory
TIDMRSG
RNS Number : 8778I
Resolute Mining Limited
07 December 2022
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
7 December 2022
Successful completion of retail entitlement offer
Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG)
is pleased to announce the successful completion of the retail
component (Retail Entitlement Offer) of its 1 for 1.11 partially
underwritten accelerated non-renounceable pro-rata entitlement
offer (Entitlement Offer) of new fully paid ordinary shares (New
Shares), as announced to the ASX on Thursday, 17 November 2022.
The Retail Entitlement Offer closed on Monday, 5 December 2022
and raised a total of approximately A$46 million at the offer price
of A$0.16 per New Share (Offer Price). This follows the successful
completion of the institutional placement ( Placement ) and the
institutional component of the entitlement offer (Institutional
Entitlement Offer), together the (Institutional Offer) . The
results of the Institutional Offer were announced to the ASX on 14
November 2022, which raised approximately A$96 million.
The Retail Entitlement Offer was partially underwritten for a
total of $68 million representing 425 million New Shares. Eligible
retail shareholders subscribed for 289 million New Shares under the
Retail Entitlement Offer for approximately A$46 million. This
represents a 44% take-up rate by eligible retail shareholders of
available Retail Entitlement Offer shares. It is expected that the
remaining underwritten amount of approximately 136 million New
Shares or approximately $22 million will be allotted to
sub-underwriters of the Retail Entitlement Offer.
Amount Raised Under the Placement and Entitlement Offer
Shares Amount
(A$ million)
Institutional Offer
------- --------------
Placement 258 41
------- --------------
Institutional Entitlement
Offer 342 55
------- --------------
Total Institutional Offer 600 96
------- --------------
Retail Entitlement Offer
------- --------------
Retail Entitlement Offer
Take-Up 289 46
------- --------------
Allotted to Sub-underwriters 136 22
------- --------------
Total Institutional Offer 425 68
------- --------------
Total Equity Raising 1,025 164
------- --------------
New Shares under the Retail Entitlement Offer are expected to be
allotted and commence trading on Monday, 12 December 2022. New
Shares issued under the Offer will rank equally with the Company's
existing fully paid ordinary shares as at their date of issue.
Further information regarding the Retail Entitlement Offer is
contained in the Retail Offer Booklet released on Thursday, 17
November 2022.
Additional Information
Further information concerning the Equity Raising is contained
in the Resolute Investor Presentation released to the ASX and LSE
on 10 November 2022 which is available on the ASX website . Nothing
contained in this announcement constitutes investment, legal, tax
or other advice. You should seek appropriate professional advice
before making any investment decision. Shareholders should note the
subsequent changes to the underwritten amount of the Offer and the
use of proceeds as described in this announcement.
About Resolute
Resolute Mining (ASX/LSE: RSG) is an African gold miner,
developer and explorer with more than 30 years of experience across
Australia and Africa. To date, the company has produced over nine
million ounces of gold. It currently operates the Syama Gold Mine
in Mali and the Mako Gold Mine in Senegal. Resolute's gold
production and cost guidance for FY2022 is 345,000oz at an All-In
Sustaining Cost of $1,425/oz.
Through all its activities, sustainability is the core value at
Resolute. This means that protecting the environment, providing a
safe and productive working environment for employees, uplifting
host communities, and practising good corporate governance are
non-negotiable priorities. Resolute's commitment to sustainability
and good corporate citizenship has been cemented through its
adoption of and adherence to the Responsible Gold Mining Principles
(RGMPs). This framework, which sets out clear expectations for
consumers, investors, and the gold supply chain as to what
constitutes responsible gold mining, is an initiative of the World
Gold Council of which Resolute has been a member since 2017. The
Company is on track to reach full compliance with the RGMPs in
2023.
Contact
Resolute Public Relations
James Virgo, GM Finance and Investor Jos Simson / Emily Moss, Tavistock
Relations resolute@tavistock.co.uk
contact@rml.com.au +44 207 920 3150 / +44 7788
+61 8 9261 6100 554 035
Australian Media Corporate Broker
Cameron Morse, FTI Consulting Jennifer Lee, Berenberg
cameron.morse@fticonsulting.com +44 20 3753 3040
+61 433 886 871
Authorised by Mr Terry Holohan, Managing Director and Chief
Executive Officer
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