Business
Proposed Placing to raise up to £39 million
Proposed Placing to raise up to £39 million.
About this update from Atalaya Mining Copper Sa
[{"type":"text","content":"\n \nRNS Number : 2531Y Atalaya Mining PLC 04 December 2017 \n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT HAS NOT BEEN APPROVED BY THE LONDON STOCK EXCHANGE, NOR IS IT INTENDED THAT IT WILL BE SO APPROVED. \n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU No. 596/2014). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n4 December 2017\nAtalaya Mining plc\n(\"Atalaya\" or the \"Company\")\n \nProposed Placing to raise up to approximately £39 million (the \"Placing\")\n \nAtalaya Mining plc (AIM:ATYM, TSX:AYM), the European mining and development company, today announces its intention to raise equity funding of up to approximately £39 million for the 15 Mtpa Expansion plan announced earlier this morning, through the issue of up to 23,335,910 new ordinary shares (the \"Placing Shares\") at a price of 167 pence per share (the \"Placing Price\"). \n \nThe Placing is conditional on raising not less than £25,580,612 and the Company has received binding commitments and/or firm indications from certain major shareholders (and its largest institutional UK shareholder) to participate in the Placing by acquiring 16,717,732 shares at the Placing Price which represent 72 per cent. of the Placing Shares. These commitments and/or firm indications will be sufficient to meet the minimum funding required. \n \nThe balance of the Placing Shares will be offered to existing and new institutional investors who wish to participate in the Placing. The Placing is currently expected to conclude on or before 5:00 p.m. GMT on 8 December 2017, with admission of the Placing shares to trading on AIM becoming effective on or before 12 December 2017. A further announcement will be made following completion of the Placing. \n \nThe Placing will open with immediate effect following this Announcement. The numb...