Business
Result of Placing and Subscriptions
Result of Placing and Subscriptions.
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 \n \n \n \n \n \n \n \n \n \n \n \n 15 September 2022\n \n \n \n Ferro-Alloy Resources Limited\n \n \n \n \n \n \n \n \n \n (\"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n Result of Placing and Subscriptions\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 Southern Kazakhstan,\n is pleased to announce\n that, following the announcement earlier today (the \"Launch Announcement\") regarding the launch of a proposed placing (the \"Placing\") and direct subscriptions (the \"Subscriptions\"), the Company has raised gross proceeds of £8.2 million (approximately US$9.5 million) through the issue of an aggregate of 68,424,084 new ordinary shares of no par value (\"Ordinary Shares\") in the capital of the Company at a price of 12.0 pence per Ordinary Share (the \"Issue Price\"). The Placing and Subscriptions were supported by both existing shareholders and new investors.\n \n \n Earlier today the Company also announced the launch of a PrimaryBid Offer for up to £0.4 million (approximately $0.5 million) which is expected to close at 2.00 p.m. today. The Company will announce the results of the PrimaryBid Offer thereafter. In total the Placing, Subscriptions and PrimaryBid Offer (the \"Fu...