Business
Amendment: Issue of Equity Incorrect No. of Shares
Amendment: Issue of Equity Incorrect No. of Shares.
About this update from Gem Resources Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSE OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF UNITED KINGDOM (\"UK\") DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). MARKET SOUNDINGS WERE TAKEN FROM CERTAIN PERSONS IN RELATION TO THE PLACING AND THE SUBSCRIPTION. THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\nURA Holdings plc\n \n(\"URA\" or the \"Company\")\n \nAmended: Placing and Subscription to raise £240,000 in ordinary shares (the \"Fundraise\")\n \nURA is pleased to announce that it has raised £240,000 (before expenses) through a placing and subscription, issuing in aggregate 10,000,000 new ordinary shares in the capital of the Company (\"New Ordinary Shares\") at an issue price of 2.4p per New Ordinary Share. The placing and subscription were limited by the maximum amount the Company can currently place within its existing disapplation of pre-emption rights authority. \nThe Fundraise was conducted at a 7.69% discount to the mid-market closing price on 31 August 2023 and is within the existing authority to issue shares for cash on a non pre-emptive basis.\nAs a further component of the Fundraise, the Company executed a warrant instrument, issuing 125,000 warrants to Peterhouse Capital Limited in accordance with their engagement letter at an exercise price of 2.4p per ordinary share for a period of three years.\nThe proceeds of the Fundraise will be used to purchase critical equipment and machinery required for the restart of mining operations at the Gravelotte Emerald Mine and for general working capital.\nThe following Directors participated in the Subscription:\nDirector Subscription Amount Number of New Ordinary Shares\nEdward Ne...