Business
Placing to raise £3.96m, update on strategy, TVR
Placing to raise £3.96m, update on strategy, TVR.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2218R Reabold Resources PLC 20 September 2017 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n\n\n\n\nFor immediate release\n\n\n20 September 2017\n\n\n\n\nReabold Resources plc (\"Reabold\" or the \"Company\")\nPlacing to raise £3.96 million\nNotice of General Meeting\nUpdate on Strategy\nTotal voting rights\n \n \nReabold, the AIM listed investment company operating in the natural resources sector, is pleased to announce a placing of 792,000,000 new ordinary shares of 0.1 pence each (the \"Ordinary Shares\") in the capital of the Company (the \"Placing Shares\") at a price of 0.5 pence per Placing Share (the \"Placing Price\"). The placing will raise, in aggregate, £3.96 million (before expenses) (the \"Placing\").\nThe Company is very pleased with the demand of investors to participate in the Placing, which significantly exceeds the Directors' existing authorities to allot shares on a non-pre-emptive basis. To enable the Company to undertake a further placing of up to £1.5 million to meet this additional demand from investors, a general meeting (\"GM\") of the Company is to be held to obtain shareholder approval to renew the Directors' authorities to allot shares for cash on a non-pre-emptive basis. The notice of GM (\"the Notice\") will be sent to shareholders once finalised and will be available to download from the Company's website at www.reabold.com. A further announcement will be when the Notice is published.\nThe investing policy of the Company remains to acquire direct and indirect interests in exploration and producing projects and assets in the natural resources sector, and consideration is currently given to investment opportunities anywhere in the world. However it is the Board's intention, under that policy, to concentrate on investments in European oil and gas projects. \nThe net proceeds of the Placing will be used to make investments under this more focused strategy, in support of which the Company is proposing to appoint Sach...