Business
Placing, Potential Acquisition and Notice of GM
Placing, Potential Acquisition and Notice of GM.
About this update from Ironveld Plc
[{"type":"text","content":"\n \nRNS Number : 8068I Ironveld PLC 21 June 2017 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 (\"MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES.\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OR ANY OF ITS TERRITORIES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n21 June 2017 \nIronveld plc (\"Ironveld\" or the \"Company\")\nPlacing to raise £2.1 million \nPotential acquisition of smelting business\nNotice of General Meeting\n \nIronveld plc, the owner of a High Purity Iron (\"HPI\"), Vanadium and Titanium project located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa (the \"Project\"), is pleased to announce that it has raised £2.1 million before expenses through a firm and conditional placing of 105,000,000 new ordinary shares of 1p each (the \"Placing Shares\") at a price of 2.0p each (the \"Placing\").\n \nHighlights:\n· Placing to raise gross proceeds of £2.1 million through the issue of 105,000,000 Placing Shares at a price of 2.0p each. Placing comprises Firm Placing of £1.4 million and Conditional Placing of £0.7 million;\n· Proceeds of the Placing will be used for working capital including the repayment of the outstanding R15 million (c. £0.9m) principal amount of the Loan Facility and will also enable the Company to continue to progress the potential acquisition of the 7.5 MW Smelting Plant announ...