Business
Issue of Equity and TVR
Issue of Equity and TVR.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 3882W Regency Mines PLC 08 February 2017 \n\nREGENCY MINES PLC\n(\"Regency\" or the \"Company\")\nIssue of Equity \nTotal Voting Rights\n \n8 February 2017 \n \nRegency Mines plc announces that it has raised £105,000 by way of a placing of 21,000,000 new ordinary shares of 0.01 pence each (\"Shares\") in the Company at a price of 0.5p per share with 1 for 1 warrants exercisable at a price of 1p for twenty-four months (\"March 2019 Warrants\" and \"Placing\"). \nThe purpose of the Placing is to provide funding towards the investment in Vali Carbon Corporation, a Delaware company set up to pursue metallurgical coal investments in the Appalachians, announced on 6th February 2017. \nAndrew Bell, Regency Chairman, states: \"We have been able to fund this further investment in Appalachian coal by issuing shares at a price 25% above that at which we recently raised capital. Our intention then was, as far as possible, to fund development of our coal interests through disposals and through cash flow, and that intention remains; however this latest opportunity arose in a time frame which did not allow for that.\nProgress continues on schedule in our coal activities in the U.S. and further announcements will be made.\" \nFurther Information and Additional Terms \nThe March 2019 Warrants are subject to call at seven days' notice should the closing price of the Shares exceed 2.5p for ten consecutive days. \nThe Placing is conditional on admission of the Shares to trading on AIM (\"Admission\"). \nApplication has been made to the London Stock Exchange for Admission of the Shares, which will rank pari passu with the Company's existing issued Ordinary Shares. Dealings are expected to commence at 8.00 a.m. on or around 21st February 2017.\nTotal Voting Rights\nFollowing the Placing, the Company's total issued ordinary share capital will consist of 428,384,571 Shares with voting rights. No Shares are held in treasury.\nThe above figure of 428,384,571 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.\nBackground Information\nRegency Mines is a natural resource development and i...