Business
Equity Placing
Equity Placing.
About this update from Talisman Metals Plc
[{"type":"text","content":"\n RNS Number : 0555D Ovoca Gold PLC 09 September 2008 \n \nOvoca Gold PLC ('Ovoca' or the 'Company')\n\nEquity Placing\n\nOvoca (London AIM (OVG.L), Frankfurt (OVX.GR) and Dublin IEX (OVX.IR) is pleased to announce that it has agreed the terms of a conditional placing of 6,471,000 new ordinary shares of €0.025 each ('Ordinary Share') at a price of £0.065 per Ordinary Share (the 'Placing Shares'), raising gross proceeds of £420,615 ('the Placing'). \n\nThe Placing price is a 10.9% premium to the average mid market closing price on the London Stock Exchange of £0.059 per Ordinary share on the ten trading days prior to 9 September 2008. In addition, the Company has issued warrants to subscribe for 3,235,500 Ordinary Shares which have an exercise price of £0.082 per share and can be exercised at any time up to 4 September 2009. The warrants, which are transferable, will not be quoted on any market. The Placing is conditional on the Placing Shares being admitted to trading on the IEX Market of the Irish Stock Exchange ('IEX') and the AIM Market of the London Stock Exchange ('AIM').\n\nThe net proceeds of the Placing will be used in the evaluation and development of the Goltsovoye silver deposit, located in the Magadan Oblast of north-east Russia, and for working capital purposes. \n\nLeonid Skoptsov, CEO of Ovoca, will subscribe for the following Placing Shares:\n\n\n\n\n\n \n\n\n \n\n\nPlacing Shares subscribed for:\n\n\nResultant holding of Ordinary Shares:\n\n\n% of Enlarged Share Capital:\n\n\n\n\nSubishico Trading Company Ltd*\n\n\n2,157,000\n\n\n39,578,743\n\n\n8.9536\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\nWarrants received pursuant to the Placing:\n\n\nResultant holding of Warrants:\n\n\n\n\nSubishico Trading Company Ltd*\n\n\n \n\n\n1,078,500\n\n\n4,943,225\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n\n\n* The Saint George Trust, of which Leonid Pavlovich Skoptsov is a director and beneficial owner of, is a&nbs...