Business
Completion of Suay Chin Subscription Agreement
Completion of Suay Chin Subscription Agreement.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 4608V Kodal Minerals PLC 03 November 2017 \n\n \nPrior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n \nKodal Minerals plc / Index: AIM / Epic: KOD / Sector: Mining\n \n3 November 2017\nKodal Minerals plc \n('Kodal Minerals' or 'the Company')\n \nCompletion of Suay Chin International Pte Limited Equity Subscription Agreement and Total Voting Rights\n \nKodal Minerals, the mineral exploration and development company, announces that it has received the final payment in regard to the equity subscription agreement (the \"Subscription Agreement\") with Singapore-based Suay Chin International Pte Ltd (\"Suay Chin\"). The Company has received the final amount of £330,968 and, in accordance with the Subscription Agreement, will issue 87,096,953 new ordinary shares (\"Shares\") to Suay Chin at a price of £0.0038 per share (the \"Subscription Shares\").\n \nThis receipt completes the Suay Chin subscription following which it will have subscribed a total of £4,825,266 for 1,304,894,645 Shares which will represent 20.0% of the Company's enlarged issued share capital.\nIn summary, Kodal has now received from Suay Chin the following subscription investments:\n· Subscription of £500,000 at 0.30 pence per Share for 166,666,667 Shares as announced on 10 March 2017;\n· Subscription of £3,300,000 at 0.38 pence per Share for 868,421,052 Shares as announced on 8 May 2017; \n· Subscription of £694,297 at 0.38 pence per Share for 182,709,973 Shares as announced on 31 July 2017; and\n· Subscription of £330,968 at 0.38 pence per Share for 87,096,953 Shares as announced today.\n \nThe final 87,096,953 Subscription Shares will be issued to Suay Chin, conditional on admission of the Subscription Shares to trading on AIM (\"Admission\"). Application will be made to the London Stock Exchange for Admission of these Subscription Shares and such Admission is expected to become effective on 8 November 2017. \n \nBernard Aylward, CEO of Kodal...