Business
Beowulf launches a partially secured capital raise
Beowulf launches a partially secured capital raise.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4519E\n Beowulf Mining PLC\n 06 November 2020\n \n \n \n \n \n \n \n \n \n \n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, SINGAPORE, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS\n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.\n \n The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n \n 6 November 2020\n \n \n \n Beowulf Mining plc\n \n \n \n \n (\"Beowulf\" or the \"Company\")\n \n \n \n \n Beowulf launches a partially secured capital raising of up to approximately £7.3 million (approximately SEK 83 million) to advance the Company's asset portfolio\n \n \n \n \n Beowulf (AIM: BEM; Spotlight: BEO) announces\n that it will conduct an open offer of up to 225,841,752 new Ordinary Shares to Qualifying Shareholders at 3.16 pence per Share (the \"Offer Price\") on a pre-emptive basis to raise up to approximately £7.3\n million (gross) (the \"Open Offer\"). The Company will also receive a further conditional subscription of 88,800 new Ordinary Shares to raise £2,806 (the \"Additional Subscription\").\n \n \n \n In order to ensure that existing holders of Swedish Depository Receipts (\"SDRs\") are able to participate in the Open Offer in respect of the underlying Ordinary Shares represented by the SDRs, the Board will instruct Sedermera Fondkommission as issuing agent in the Swedish market to offer the underlying Ordinary Shares' entitlements to accept the Open Offer to Qualifying SDR Holders in Sweden for subscription by way of a rights issue of new SDRs with preferential rights of up to approximately...