Business
First Day of Dealings on the London Stock Exchange
First Day of Dealings on the London Stock Exchange.
About this update from Cobra Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4112H Cobra Resources PLC 15 November 2018 \n\nNOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.\n \n15 November 2018\n \nCobra Resources plc\n(\"Cobra\" or the \"Company\")\n \nFirst Day of Dealings on the Main Market of the London Stock Exchange \n \nCobra Resources plc, a company formed to make acquisitions of tenements and projects in the natural resources sector, is pleased to announce that trading in its ordinary shares of nominal value 1 pence each (\"Ordinary Shares\") will commence on the Main Market of the London Stock Exchange(\"LSE\") at 8 a.m. today, under the ticker COBR (\"Admission\") and with the ISIN number GB00BGJW5255. SI Capital Limited has acted as Financial Adviser, Broker and placing agent to the Company in relation to Admission.\n \nThe Company successfully raised gross proceeds of £523,500, before expenses, through a placing of 34,900,000 new Ordinary Shares at 1.5 pence per Ordinary Share (the \"Placing Price\"). It has also issued warrants on a one for one basis that, were they all to be exercised, would raise approximately a further £1.3 million. \n \nBased on the Placing Price, the market capitalisation of the Company at Admission is approximately £1.01 million. Following admission, the Company has 67,233,532 Ordinary Shares in issue. The new Ordinary Shares issued in connection with Admission will rank pari passu with the existing Ordinary Shares.\n \nOverview\n \n· Formed to make acquisitions of tenements and projects in the natural resources sector\n· Excellent opportunity to take advantage of the next 'up-cycle' in the resources sector by identifying and acquiring advanced but undervalued projects\n· Selection criteria include:\no Availability at attractive valuations\no Hold opportunities to unlock embedded value\no Prospect of adding significant value\no Geographically targeted, but not limited to, Australia and Africa\no Management team with a proven and strong track record\n· Initial commodity focus is on bas...