Business
Result of Accelerated Bookbuild
Result of Accelerated Bookbuild.
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.\n \n21 November 2023\n \nURA Holdings plc\n \n(\"URA\" or the \"Company\")\n \nResult of Accelerated Bookbuild\n \nStrong support from directors\n \nNet proceeds to facilitate be used restart the Gravellotte Emerald Mine\n \nURA is pleased to announce that, further to following yesterday's announcement of the launch of the placing via the bookbuild, it has successfully raised £1,000,000 (before expenses) through the placing and subscription (together the \"Fundraise\"), issuing in aggregate 80,000,000 new ordinary shares in the capital of the Company (\"New Ordinary Shares\") at an issue price of 1.25p per New Ordinary Share.\n \nClosing of the Fundraise is conditional upon the publication of a new secondary prospectus and upon shareholder approval. A prospectus in connection with the Fundraise has been lodged with the FCA and will be published in due course. The Fundraise is also subject to a shareholder approval at a general meeting (further details of which are set out below).\n \nThe proceeds of the Fundraise will be used to restart the Gravellotte Emerald Mine and includes the purchase and installation of the remaining capital items, primarily relating to the proceesing plant and commissioning of the processing plant as well as general working capital. The restart of mining and processing operations and first emerald production is expected to occur in Q1 2024.\n \nThe issue price of 1.25p represents a discount of 24% to the mid market closing price of the ordinary shares on the London Stock Exchange plc at 4pm on 20 November...