Business
Subscription to raise £500,000
Subscription to raise £500,000.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 2691W Beowulf Mining PLC 16 April 2019 \n\n \n \nNOT 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, GOLDSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA 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 \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (\"MAR\") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n16 April 2019\nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\nSubscription to raise £500,000\n \nBeowulf (AIM: BEM; Spotlight: BEO), the Nordic focused mineral exploration and development company, is pleased to announce a subscription for new ordinary shares of £0.01 each to raise £500,000 before expenses (the \"Subscription\"). \n \nThe funds will be used for general working capital purposes and for supporting its commitment to Vardar Minerals' Kosovan exploration programme.\n \n \nDetails of the Subscription, Issue of Equity, and Total Voting Rights\n \nPursuant to the Subscription, the Company will issue 8,695,652 new ordinary shares of £0.01 each (the \"Subscription Shares\") to raise approximately £500,000 (before expenses) at a price of 5.75 pence per new ordinary share. \nApplication has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM on or around 25 April 2019 (\"Admission\"). The Subscription Shares will rank pari passu with existing ordinary shares of £0.01 each.\nFollowing Admission, and in accordance with the Financial Conduct Authority's Disclosure (\"FCA\") and Transparency Rules, the Company hereby announces that it will have 588,639,270 ordinary shares in issue, each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.\n \nFollowing Admission, the above figure of 588,639,270 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are re...