Business
Hochschild Equity Placing
Hochschild Equity Placing.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \nRNS Number : 4855P Hochschild Mining PLC 02 October 2013 \n \n\n \nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (SUCH TERM TO BE UNDERSTOOD THROUGHOUT THIS ANNOUNCEMENT AS INCLUDING THE UNITED STATES' TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN, JERSEY OR PERU OR ANY JURISDICTION INTO WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER TO SELL OR SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN, JERSEY OR PERU OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.\n \n2 October 2013\n \nHochschild Mining plc announces proposed Equity Placing to raise approximately $48-$96 million1\n \nHochschild Mining plc (\"Hochschild\" or the \"Company\") today announces its intention to place between 16,905,067 and 33,810,134 new ordinary shares of 25 pence each (the \"Placing\") to raise approximately $48-$96 million1 of proceeds. \n \nThe proceeds will be used to partially fund the acquisition of the 40% interests held by International Minerals Corporation in the Pallancata mine and Inmaculada project (the \"Peruvian Assets\") which is being announced concurrently (the \"Acquisition\"). Prior to the Acquisition, Hochschild holds a 60% interest in the Peruvian Assets. Please refer to the acquisition announcement published on 2 October 2013 for further details of the Acquisition. Please note that completion of the Placing is not conditional on the closing of the Acquisition, which is subject to a number of conditions, including approval of the Company's shareholders in an extraordinary general meeting to be held in due course. \n \nOn 21 August 2013, Hochschild published its interim results for the six months ended 30 June 2013. Hochschild is of the view that there has been no significant change to the Group's trading and prospects since that date. Hochschild remains on track to produce 20 million attributable silver equivalent ounces in 2013. In addition, since Hochschild's interim results, there has been no material change to the overall level of c...