Business
Proposed Placing
Proposed Placing.
About this update from Ferro-alloy Resources Ltd.
[{"type":"text","content":"\n \n \n \n NOT FOR DISTRIBUTION OR FOR PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, CANADA, AUSTRALIA, 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 \n \n \n \n \n \n \n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF FERRO-ALLOY RESOURCES LIMITED IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (INCLUDING AS IT FORMS PART OF THE LAWS OF ENGLAND AND WALES BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\").\n \n \n \n \n \n \n 15 September 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Ferro-Alloy Resources Limited\n \n \n \n \n \n \n \n \n \n (\"FAR\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n Proposed Fundraising to raise, in aggregate, £8.6 million (approximately US$10.0 million)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Ferro-Alloy Resources Limited (LSE:FAR), the vanadium mining and processing company with operations based in Sothern Kazakhstan, released its unaudited interim financial results for the six months ended 30 June 2022 earlier this morning.\n \n \n \n \n \n Further to the announcement of its interim results, the Company is pleased to announce a proposed capital raising of, in aggregate, £8.6 million (approximately US$10.0 million), before expenses.\n \n \n \n \n \n The fundraising will comprise: (i) a placing (the \"Placing\") of up to £8.2 million (approximately US$9.5 million) to certain institutional and other investors including proposed direct subscriptions (\"Subscriptions\") raising, in aggregate, £0.5 million (approximately US$0.6 million) which certain directors of the Company and others have indicated that they intend to enter into; and (ii) a separate offer for subscription for up to £...