Business
Intended Placing & Farm-out
Intended Placing & Farm-out.
About this update from Aminex Plc
[{"type":"text","content":"\n Aminex PLC\n15 May 2007\n\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN PART OR IN WHOLE IN OR INTO THE\n UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA\n\n\n\nThis announcement is an advertisement and not a prospectus and investors should\nnot subscribe for or purchase any shares referred to in this announcement except\non the basis of information in the registration document published by Aminex on\n30 March, 2007 and the summary and securities note in connection with the\nplacing and rights issue to be published in due course (together, the \n\"Prospectus\"). Copies of the Prospectus will, following publication, be \navailable from, inter alia, the registered offices of Aminex.\n\n\n15 May, 2007\n\n\n\n Aminex PLC (\"Aminex\" or the \"Company\")\n\n Intended Placing and Rights Issue to raise in aggregate up to Stg£16.8 million\n (approximately US$33.6 million)\n and\n Tanzanian Farm-in Agreement\n\nHighlights\n\n • Intention to place 55,882,500 new Ordinary Shares at Stg20p per share (\"\n Placing Shares\") to raise approximately Stg£11.2 million (approximately\n US$22.4 million) before expenses (the \"Placing\");\n\n • Intention to conduct a non-underwritten Rights Issue to qualifying\n shareholders of up to 28,163,066 Ordinary Shares on the basis of 1 new\n Ordinary Share for every 6 existing Ordinary Shares held on a record date\n (to be determined) at Stg20p per share to raise up to approximately \n Stg£5.6 million (approximately US$11.2 million) before expenses (the \n \"Rights Issue\");\n\n • Investors subscribing under the Placing and/or the Rights Issue will also\n become entitled to 1 new warrant with an exercise price of Stg22p each, for\n every 2 new Ordinary Shares subscribed for;\n\n • Proceeds of the intended Placing and Rights Issue to fund the commencement\n in 2007 of Aminex's drilling and exploration programme including activities\n in Tanzania, Egypt, Madagascar, Kenya, North Korea and the US;\n\n • The Placing and the Rights Issue are conditional, inter alia, upon\n shareholder approval to be sought at an extraordinary general meeting of the\n Company; and\n\n • Agreement to farm-out a 25% interest in the Nyuni East Songo Songo\n Production Sharing Agreement (\"Nyuni PSA\") whereby The Ras Al Khaimah Gas\n Commission (known as Rakgas) will pay 37.5% of the costs of two well...