Business
Placing and appointment of CI
Placing and appointment of CI.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n RNS Number : 9787U Hameldon Resources Limited 26 October 2010 \n \n\n \nHAMELDON RESOURCES LIMITED\n \nPRIVATE PLACEMENT AND APPOINTMENT OF TOM WINNIFRITH OF SF T1PS GOLD FUND AS CHIEF INVESTMENT OFFICER\n \n26 October 2010\n \nThe Board of Directors of Hameldon Resources Limited (\"HRE\" or the \"Company\") is pleased to announce that the Company has raised £500,000 by way of a placing of new ordinary shares in the Company and the issue of convertible loan notes.\n \nThe Company has also appointed Tom Winnifrith, manager of the SF t1ps Smaller Companies Gold Fund, as its Chief Investment Officer (\"CIO\") with a mandate to invest in the shares of principally gold and precious metal companies quoted on stock exchanges in the UK, Canada and Australia. \n \nMr Winnifrith will receive no fee for his services but his employer, t1ps Investment Management (IoM) Limited (\"TIM\") will receive a fee equivalent to 25% of the increase in the net asset value (\"NAV\") of the Company payable in shares at the NAV each quarter. \n \nThe Company intends shortly to convene an extraordinary general meeting to approve resolutions including the change in the Company's name to Athol Au Limited to reflect its new focus and also the increase in the Company's authorities to issue shares in order to enable conversion of the convertible loan notes.\n \nStephen Smith, HRE Chairman commented \"The involvement of new investors including Jim Mellon and Malcolm Burne and the recruitment of Tom Winnifrith to secure attractive investments in gold, precious metals and other natural resources is very welcome. We expect to make our first investments shortly and investors will be updated on progress as appropriate.\" \n \nTransaction highlights\n \nPlacing of 27.5 million new Shares\n \nThe Company has placed 27,480,000 new ordinary shares of 0.25p each (\"Placing Shares\") with new investors at a price of 0.25p per share to raise £68,700 before expenses. The placing price represents a 37% premium to the current cash per share of approximately 0.18p. The Placing Shares will rank pari passu with the existing ordinary shares of 0.25p each in the Company. Application has been made for admission of the Placing Shares to trading on AIM. Admission is expected to occur on 1st November 2010.\n \nIssuance...