Business
Fundraising and Issue of Equity
Fundraising and Issue of Equity.
About this update from Arkle Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9682R Connemara Mining Company plc 18 September 2014 \n \n\n \n18th September 2014\n \n\n\n\n \nConnemara Mining Company\nFundraising and Issue of Equity\n \nConnemara (AIM: CON) announces that it has raised £400,800 through the issue of 20,040,000 ordinary shares of €0.01 each (the \"New Shares\") at a price of 2 pence per New Share (the \"Issue Price\") (the \"Transaction\").\n \nThe net proceeds of the Transaction will fund further work on the Company's portfolio of exploration projects in Ireland and pay on-going corporate costs.\n \nAs part of the fundraising two of the Company's directors Dr John Teeling and Mr James Finn, have agreed to subscribe for 1,250,000 shares each. The directors' holdings following the Transaction are set out below:\n \n\n\n\n\nName\n\n\nNumber of New Shares subscribed for cash\n\n\nTotal shareholding following the Transaction\n\n\nHolding following the Transaction as a percentage of the Company's issued ordinary share capital\n\n\n\n\nJohn Teeling\n\n\n1,250,000\n\n\n5,270,001\n\n\n9.45%\n\n\n\n\nJames Finn\n\n\n1,250,000\n\n\n5,283,001\n\n\n9.47%\n\n\n\n\nGraham Reid\n\n\n0\n\n\n310,000\n\n\n0.56%\n\n\n\n\nEdward Vivion Byrne\n\n\n0\n\n\n0\n\n\n0\n\n\n\n\n \n \nApplication to AIM and Total Voting Rights\n \nApplication has been made for the New Shares to be admitted to trading on AIM and it is expected that admission of the New Shares will take place at 8.00 a.m. on 24th September 2014 (\"Admission\"). \n \nFollowing issue of the new shares the Company's issued share capital now consists of 55,779,711 ordinary shares of €0.01 each, with each ordinary share carrying the right to one vote. There are no shares held in treasury.\n \nThe above figure of 55,779,711 ordinary shares 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 the Company, under the Disclosure and Transparency Rules. \n \nEnds\n\n\n\n \n \n\n \nConnemara is a diversified exploration company with principal assets in base metal zinc/lead exploration licences as well as shear hosted gold exploration licences in Ireland. The company holds interests in 29 licences covering an ar...