Business
Funds Received and Admission of Shares to Trading
Funds Received and Admission of Shares to Trading.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \n \n Bluebird Merchant Ventures Ltd / EPIC: BMV.L / Market: FTSE / Sector: Mining\n \n \n 20 March 2023\n \n \n \n Bluebird Merchant Ventures Ltd ('Bluebird' or 'the Company')\n \n \n \n \n Funds received and Admission of shares to trading\n \n \n \n \n \n \n \n \n Bluebird Merchant Ventures Ltd, a gold company primarily focused on bringing historic mines back into production, announces that the full proceeds of the Company's recent £1,215,000 placing have been received by the Company.\n \n \n \n \n \n In order that the subscribers to the Placing receive the full 60,750,000 shares, the Company has issued 37,750,000 New Ordinary Shares ('the Placing Shares') and 23,000,000 Shares have been transferred from Momentum Resources, which form part of the Pledged Share Pool that was announced as being available on 6 March 2023. This arrangement has been facilitated by the Directors, as upon application being made for the Placing Shares to be listed, the FCA informed the Board that the current headroom was not sufficient. This was because 62,385,234 shares issued between 2016 and 2019, which were admitted to trading as announced on 20 July 2022, constituted part of the available headroom for the previous 12 months and not the expected period between 2016-19. \n \n \n \n \n \n Momentum Resources will receive no consideration, interest or other benefit for the transfer of the pledged shares and the Company will issue Momentum Resources 23,000,000 Shares either upon publication of a new prospectus or when there is sufficient headroom. Momentum Resources is a related party of Bluebird Directors Colin Patterson and Charles Barclay. The transaction was approved by the Non-Executive Chairman, Jonathan Morley-Kirk.\n \n \n \n \n \n All of the warrants related to the Placing that was announced on 6 March 2023 have been issued.\n \n \n \n \n \n \n \n Application will be made for the Placing Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on the Standard Listing Segment of the Main Market of the London Stock Exchange (\"Admission\"). Admission is expected on or around 21 March 2023.\n \n \n \n \n \n The Company's total issued and voting share capital upon Admission will be 689,865,042 Ordinary Shares. This figure may be use...