Business
Placing to raise £1.0 million
Placing to raise £1.0 million.
About this update from Gcm Resources Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, NEW ZEALAND, SINGAPORE OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) (\"EUWA\")) (\"UK MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n28 March 2025\n \nGCM Resources plc\n(\"GCM\" or the \"Company\")\n \nPlacing to raise approximately £1.0 million\n \nGCM Resources plc (AIM: GCM), the AIM traded resource exploration and development company, announces that it has conditionally raised approximately £1.0 million (before expenses) by way of a placing (the \"Placing\") of a total of 33,333,333 new ordinary shares of 1 pence each in the Company (\"Ordinary Shares\") at a price of 3.0 pence per new Ordinary Share (the \"Issue Price\").\n \nHighlights\n \n· Equity raise of approximately £1.0 million at 3.0 pence per new Ordinary Share.\n \n· The net proceeds from the Placing are intended to be used by the Company for working capital purposes.\n \n· The Issue Price represents a discount of approximately 16 per cent. to the closing mid-market price of 3.60 pence per Ordinary Share on 27 March 2025.\n \n· Allenby Capital Limited (\"Allenby Capital\") is acting as sole bookrunner in connection with the Placing.\n \n· The new Ordinary Shares are to be issued pursuant to the Compa...