Business
PLACING
PLACING.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \n\n2 February 2011\n\n GREAT WESTERN MINING CORPORATION PLC\n\n (the \"Company\" or \"GWM\")\n\n PLACING\n\nThe Directors of the Company announce that the Company has today issued a total of 1,136,363 new ordinary\nshares of EURO 0.01 each (the \"new Ordinary Shares\") at an issue price of £0.11 (the \"Placing Price\") each,\npursuant to a placing (the \"Placing\"). Today's Placing has raised a total of approximately £125,000. The\nfunds raised via today's Placing will be used to expand the Company's pilot core hole drilling programme.\n\nThe new Ordinary Shares will rank pari passu with all existing fully paid Ordinary Shares. The new Ordinary\nShares and the existing Ordinary Shares both have one right to vote per share. Potential dealings in the\nnew Ordinary Shares on PLUS-quoted will be possible from 3 February 2011 onwards.\n\nThe Company's Directors did not participate in today's Placing. The following table sets out details of\nchanges in the percentage of voting rights held by Directors, subsequent to the Placing.\n\nName Number of Percentage of Number of Percentage of\n Ordinary the voting Ordinary the voting\n Shares, with rights in the Shares, with rights in the\n one voting issued ordinary one voting issued ordinary\n right each, share capital right each, share capital\n held prior to of the Company held following of the Company\n the Placing prior to the the Placing following the\n Placing (%) Placing (%)\n\nEmmett 7,055,181 19.41% 7,055,181 18.82%\nO'Connell \nExecutive\nChairman*\n\nMelvyn Quiller 1,847,813 5.08% 1,847,813 4.93%\nChief Executive \nOfficer\n\n**Robert 5,451,365 15.00% 5,451,365 14.54%\nO'Connell \nOperations\nDirector***\n\nLiam McGrattan 850,000 2.34% 850,000 2.27%\nNon Executive \nDirector\n\nNial Ring FCCA 850,000 2.34% 850,000 2.27%\nNon Executive \nDirector\n\n* Emmett O'Connell's holding includes Ordinary Shares held by his wife, M. O'Connell, and Ordinary Shares\nheld by the Emmett O'Connell pension fund.\n** Robert O'Connell's holding includes Ordinary Shares held by the Robert O'Connell pension fund.\n*** Emmett O'Connell is the father of Robert O'Connell.\n\nAfter the issue of the new Ordinary Shares, the Company's total issued capital, with voting rights, will be\n37,487,428 Ordinary Shares of EURO 0.01 each. There are no warrants or options in issue.\n\nThe above figure may be used...