Business
Proposed Equity Issue
Proposed Equity Issue.
About this update from Panthera Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7036Q\n Panthera Resources PLC\n 29 October 2021\n \n \n \n \n 29 October 2021\n \n \n \n \n \n Panthera Resources PLC\n \n \n (\"Panthera\" or the \"Company\")\n \n \n \n \n \n Proposed Equity Issue\n \n \n \n \n \n The Board of Panthera is pleased to announce that it has arranged an equity capital raising with existing and institutional investors (the \"Subscribers\") for £780,000 at 10 pence per share.\n \n \n \n \n \n It is anticipated that the applicable subscription agreements will be executed shortly with settlement planned for on or about 4 November 2021. An application for the admission of the shares for trading on the AIM will be made in the ordinary course.\n \n \n \n \n \n \n \n \n Commenting on the MMI acquisition, Mark Bolton, Managing Director of Panthera said:\n \n \n \n \n \n \"While the Company is reticent to dilute existing shareholders at current share price levels, the primary application of funds to the proposed MMI acquisition, announced earlier today, is persuasive. Furthermore, the modest quantum and negligible discount to the current share price will limit the impact on our existing shareholders.\"\n \n \n \n \n \n \n \n \n Reflecting the limited issue price discount, the Company and the Subscribers have agreed that if the Company issues any further shares for cash before 31 January 2022 (the \"Subscription Period\") at a price of less £0.10 per share in order to raise a total sum of at least £250,000, the Subscribers may (but is not required to) subscribe for further ordinary shares in the capital of the Company at par value (\"Additional Subscription\"), such that the average price per share of the Subscription and the Additional Subscription when taken together is equal to the lower issue price.\n \n \n \n \n \n \n \n \n Contacts\n \n \n \n \n \n Panthera Resources PLC \n \n \n Mark Bolton (Managing Director) +61 411 220 942\n \n \n [email protected]\n \n \n \n \n \n \n Allenby Capital Limited (Nominated Adviser & Broker) \n \n +44 (0) 20 3328 5656\n \n \n John Depasquale / Vivek\n B\n hardwaj (Corporate Finance) \n \n \n \n \n \n Financia...