Business
Sale of 3rd Tranche of Exempt Offer Bond Programme
Sale of 3rd Tranche of Exempt Offer Bond Programme.
About this update from Ferro-alloy Resources Ltd.
[{"type":"text","content":"\n\nTHIS 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 \n15 February 2024\nFerro-Alloy Resources Limited\n(\"Ferro-Alloy\" or the \"Group\" or the \"Company\")\n \nSale of Third Tranche of Exempt Offer Bond Programme\n \nFerro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, is pleased to announce the sale of all bonds issued under the US$5m third tranche (the \"Third Tranche\") of the Kazakhstan exempt offer bond programme (the \"Programme\").\n \nBackground\nAs previously announced, the Company listed the Third Tranche of bonds under the Programme on 30 January 2024, for the development of the Balasausqandiq project including front-end engineering.\n \nThe nominal value of the Third Tranche was US$5m, with a nominal coupon rate of 11%, payable quarterly, and a two and a half year maturity.\n \nSale / Proceeds\nAll bonds listed under the Third Tranche have been sold and net proceeds of US$4.73m have now been received by the Company.\nSummary\nThe three tranches of bonds issued and listed under the Programme to date have been sold, in aggregate, for US$13m. Under the terms of the Programme, US$7m of headroom remains for the issue of future tranches by the Company.\n \nFor further information, visit www.ferro-alloy.com or contact:\n \n\n\n\n\nFerro-Alloy Resources Limited\n\n\nNick Bridgen (CEO) / William Callewaert (CFO)\n\n\[email protected]\n \n\n\n\n\nFreedom Finance Global PLC\n(Bond Underwriter)\n \n\n\nRenat Syzdykov\n\n\n+7 701 766 4865 / [email protected]\n\n\n\n\nShore Capital \n(Joint Corporate Broker)\n \nLiberum Capital Limited\n(Joint Corporate Broker)\n\n\nToby Gibbs/Lucy Bowden\n \n \nScott Mathieson/John More\n \n\n\n+44 207 408 4090\n \n \n+44 20 3100 2000\n \n\n\n\n\nSt Brides Partners Limited\n(Financial PR & IR Adviser)\n\n\nAna Ribeiro/Zoe Briggs\n\n\n+44 207 236 1177\n\n\n\n\n \nAbout Ferro-Alloy Resources Limited:\nThe Company's operations are all located at the Balasausqandiq deposit in Kyzylordinskoye Oblast in...