Business
Investments, Placing, Bank Financing and TVR
Investments, Placing, Bank Financing and TVR.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3045K Reabold Resources PLC 23 June 2014 \n \n\nFor immediate release 23 June 2014\n \nREABOLD RESOURCES PLC \n \n\"Reabold Resources\" or the \"Company\"\n \nNew Investments, Placing, Bank Financing Arrangements and TVR\n \nIt was announced on 20 December 2013 (when the Company's shares were suspended from trading on AIM under Rule 15) that the Company was in negotiations to make an acquisition which would, if completed, amount to a reverse takeover under the AIM Rules. As set out in the Audited Accounts published on 13 June 2014, this transaction has now been terminated due to the target company pursuing a non-public strategy rather than proceeding with the AIM flotation process. \n \nAs a result, the Board has arranged to implement its investing policy through a broader portfolio of investments, in accordance with the Company's investing policy specifically focusing on the natural resource sector which, in the opinion of the Directors, represents a positive cyclical recovery opportunity. Accordingly, subject to the new Ordinary Shares (as referred to below) being admitted to trading on AIM and the suspension of trading on AIM being lifted, the Company has entered in to the following arrangements:\n \n1. Subscriptions totalling £325,000 have been received for 65,000,000 new Ordinary Shares of 0.1p each (\"Placing Shares\") at a price of 0.5p per share (the \"Placing\"). The funds will be used to make investments in accordance with the Company's investing policy and for working capital purposes. \n \nSaltwind Enterprises Limited (\"Saltwind\"), is a company of which Jeremy Edelman, Director; is a director and shareholder and Saltwind has subscribed for 20,000,000 new Ordinary Shares under the Placing and accordingly this is a related party transaction under ...