Business
Acquisition, Placing, Subscription and Admission
Acquisition, Placing, Subscription and Admission.
About this update from Chesterfield Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9589S Chesterfield Resources PLC 28 June 2018 \n\n28 June 2018\n \nCHESTERFIELD RESOURCES PLC\n(\"Chesterfield\" or the \"Company\") (TIDM: CHF)\n \nAcquisition, Placing, Subscription and Admission\n \nChesterfield Resources plc is pleased to announce that, further to the announcement of 2 November 2017, it has today entered into a conditional share purchase agreement (\"Acquisition Agreement\") pursuant to which it has agreed to acquire the entire issued share capital of HKP Exploration Ltd (\"HKP\") (\"Acquisition\").\n \nThe Company has today also entered into a conditional placing agreement (\"Placing Agreement\") in relation to a placing of 10,766,667 new ordinary shares of 0.1p each in the capital of the Company (\"Ordinary Shares\") (\"Placing Shares\") at 7.5p per share to raise £807,500 (before expenses) (\"Placing\") and has conditional subscription agreements (\"Subscription Agreements\") in relation to a subscription of 15,900,000 new Ordinary Shares (\"Subscription Shares\") at 7.5p per share to raise £1,192,500 (before expenses) (\"Subscription\"). In addition, one Ordinary Share subscription warrant (\"Series C Warrant\"), exercisable for two years at a subscription price of 15p per Ordinary Share, will be issued to participants in the Placing (\"Placees\") and the Subscription (\"Subscribers\") for every two Placing Shares or Subscription Shares subscribed.\n \nThe Acquisition, the Placing and the Subscription are all conditional upon admission of the entire issued and to be issued Ordinary Shares to the Standard Listed segment of the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange (\"Admission\"). It is expected that Admission will become effective and dealings in the enlarged issued ordinary share capital of the Company will commence at 8:00am on 3 July 2018.\n \nHKP and the HKP Portfolio\n \nHKP was incorporated in the Republic of Cyprus under the Cyprus Companies Law Cap.113, as amended, on 1 July 2014 with company number HE 333726. The founder of HKP is Michael Green and the majority shareholders of HKP are Michael Green, David Hall and Jeremy Martin (\"Principal HKP Sellers\"). Conditional on Admission, David Hall (\"Proposed Director\") will join the Board as a Non-Executive Director and Mich...