Business
Placing to raise £250,000
Placing to raise £250,000.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n\n \n \nThis announcement contains certain inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \nMINERAL AND FINANCIAL INVESTMENTS LIMITED\n Placing to raise £250,000\n \n \nCamana Bay, Cayman Islands - 24 May 2023 - Mineral and Financial Investments Limited (LSE-AIM: MAFL) (\"M&F\" \"MAFL\" or the \"Company\") is pleased to announce that the Company has raised £250,000, before expenses, by way of a placing with private and institutional investors of 1,190,476 new ordinary shares of 1.0p each (\"Placing Shares\") at a placing price of 21.0p per share (\"Placing Price\") (together the \"Placing\")\nIn addition, the Company has issued 250,000 new ordinary shares to Novum Securities Limited in settlement of historic broking retainer fees.\nThe total number of new ordinary shares to be issued is therefore 1,440,476 Ordinary Shares (the \"New Issue Shares\").\nThe Company will issue 47,619 warrants (\"Broker Placing Warrants\") to Novum Securities Limited, with each warrant giving the right to subscribe for one ordinary shares in the Company, at a price 25.0p per ordinary share at any time in whole or in part until 24 May 2025. \nThe net funds raised by way of issue of the Placing Shares will be used for investment opportunities that the Company is actively reviewing. \nThe Placing Price of 21.0p represents a 1.03p discount to the Company's last announced net asset value per share (NAVPS) of 22.03p for the period ending 31 December 2022 and a 4.5p discount to the closing share mid-price of 25.5p of 23 May 2023, being the previous business day.\nApplication will be made for the New Issue Shares to be admitted to trading on AIM and dealings are expected to commence on 1 June 2023 (\"Admission\").\nFollowing the issue of the 1,440,476 New Ordinary Shares, the total number of shares in issue is 36,905,871 Ordinary Shares. There are no shares held in treasury. Therefore, the total number of voting rights in the Company is 36,905,871. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if t...