Business
Placing with UK Institution
Placing with UK Institution.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 3199L\n Arc Minerals Limited\n 12 January 2021\n \n \n \n \n 12 January 2021\n \n \n \n \n \n Arc Minerals Ltd\n \n \n ('Arc' or 'Arc Minerals' or the 'Company')\n \n \n Placing with UK Institution\n \n \n Appointment of Joint Broker\n \n \n Arc Minerals is pleased to announce that it has raised GBP 2 million before expenses with one institution, Hargreave Hale Ltd, through a placing of, and subscription for 57,142,857 ordinary shares (\"Placing\") of no par value of Arc Minerals (\"Ordinary Shares\") at 3.5 pence per share (\"Placing Shares\"). The placing was led by WH Ireland Limited (\"WH Ireland\") who have also been appointed as joint broker with immediate effect.\n \n \n The Company will utilise the proceeds from the Placing to strengthen the Company's balance sheet ahead of an exciting year.\n \n \n Application will be made for the Placing Shares to be admitted to trading on the AIM market of the London Stock Exchange (\"Admission\"). The Shares will rank pari passu in all respects with the existing Ordinary Shares. Admission is expected to occur on or around 18 January 2021.\n \n \n Nick von Schirnding, Executive Chairman of Arc Minerals commented:\n \n \n \"I'm very pleased to welcome Hargreave Hale Ltd as our first major UK institutional investor to make an investment in Arc, who will have an interest in approximately 5.5% of the issued Ordinary Shares on Admission. I look forward to an exciting period ahead for Arc Minerals.\"\n \n \n Total voting rights\n \n \n Following the issue of the New Ordinary Shares, the total issued share capital of the Company consists of 1,037,771,364 Ordinary Shares of no par value with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 1,037,771,364 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.\n \n \n \n \n \n \n \n \n \n **ENDS**\n \n \n Contacts\n \n \n \n \n \n \n Arc Minerals Ltd\n \n \n Nick von Schirnding (Executive Chairman)\n \n \n \n \n \n \n \n +44 (0) 20 7917 2942\n \n \n \n...