Business
Completion of Placing - Replacement
Completion of Placing - Replacement.
About this update from Kenmare Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3012Q Kenmare Resources PLC 11 October 2013 \n \n\nThe announcement issued this morning under number 2998Q contained an error. The Placing Price is unchanged from the price announced yesterday at Stg26.5p. The full correct announcement is below. \n \n11 October, 2013\n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, JERSEY OR SOUTH AFRICA OR ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL.\n \nKenmare Resources plc (\"Kenmare\" or \"the Company\")\n \nCOMPLETION OF PLACING\n \nKenmare is pleased to announce the successful completion of the placing of 250,300,000 new Ordinary Shares in the Company (the \"Placing Shares\") with Warrants as announced yesterday (the \"Placing\"), raising gross proceeds of £66.33 million (approximately US$105.85 million). All of the 250,300,000 Placing Shares, with an issue price of Stg26.5p, have been placed with new and existing institutional shareholders and the underwriters are not therefore expected to be called on to subscribe for Placing Shares. \n \nThe Placing Shares being issued represent approximately 9.89% of the issued ordinary share capital of the Company prior to the Placing. Participants in the Placing will also be issued with warrants (\"Warrants\") on the basis of 1 Warrant to subscribe for one ordinary share in the Company for every 5 Placing Shares. In total 50,060,000 Warrants will be issued. The Warrants, which will not be listed or admitted to trading and which will have limited transferability rights, have an exercise price of Stg29.09p, an exercise period of five years and will be exercisable from thirteen months from the date of issue.\n \nApplication will be made to the Financial Conduct Authority for the Placing Shares to be admitted to the premium segment of the Official List of the Financial Conduct Authority, to the Irish Stock Exchange for the Placing Shares to be admitted to the Official List of the Irish Stock Exchange, to the London Stock Exchange for admission to trading on its Main Market for listed securities and to the Irish Stock Exchange for admission to trading on its Main Securities Mar...