Business
Underwritten Offer to raise £2m via PrimaryBid
Underwritten Offer to raise £2m via PrimaryBid.
About this update from Gcm Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8927W GCM Resources PLC 17 November 2017 \n\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nNOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.\n \nTHIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (\"FSMA\") AND HAS BEEN APPROVED BY DARWIN STRATEGIC LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. PRIMARYBID LTD IS AN APPOINTED REPRESENTATIVE OF DARWIN STRATEGIC LIMITED.\n \n17 November 2017\n \nGCM Resources plc\n (\"GCM\" or the \"Company\")\n(AIM:GCM) \nInstitutionally Underwritten Offer to raise approximately £2 million via PrimaryBid\nGCM Resources plc, a London based resource exploration and development company, is pleased to announce a fully-underwritten offer to raise approximately £2 million (before expenses) by the issue and allotment by the Company of 5,813,953 new ordinary shares of 10p each in the Company (\"New Ordinary Shares\") at an offer price of 34.4p pence per New Ordinary Share, being a discount of 20 per cent to today's closing mid-price. \nImportantly, the Company is pleased to provide private and other investors the opportunity to participate in the Offer by applying exclusively through the PrimaryBid.com platform.\nThe Company will use these funds to expand the Company's activities as it progresses with the mine mouth power plant proposal together with its strategic partner China Gezhouba Group International Engineering Co. Ltd (\"CGGC\") and to support its continuing operations and working capital requirements.\n Highlights\n· Offer at 34.4 pence per New Ordinary Share (a discount of 20 per cent to the closing mid-price per Ordinary Share on 17 November 2017) to raise approximately £2 million (before expenses).\n· ...