Business
Placing & Issue of Equity
Placing & Issue of Equity.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 0368M Tertiary Minerals PLC 11 July 2014 \n\nTertiary Minerals plc\nwww.tertiaryminerals.com\n(\"Tertiary\" or \"the Company\")\n \n 11 July 2014\n \nPlacing & Issue of Equity\nTotal Voting rights\n \nTertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector is pleased to announce that it has raised £420,000 by way of a placing of 7,304,348 new ordinary shares (the \"Placing Shares\") at 5.75p per share (the \"Placing\"). The Placing was made to a small number of institutional investors. The Placing Shares will rank pari-passu with all existing ordinary shares.\n \nThe Company will use the funds for the continuing evaluation of its fluorspar projects as set out in its news release of 2 July 2014 and for general working capital purposes.\n \nThe Placing is being made under existing shareholder authorities. Application will be made for the Placing Shares to be admitted to trading on AIM and it is anticipated that such trading will commence on 25 July 2014. \n \nFollowing the admission to trading of the Placing Shares there will be 172,760,562 ordinary shares in issue. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. \n \nPatrick Cheetham, Chairman of the Company, commented today: \"This fundraising will allow the Company to maintain momentum on its key fluorspar projects and in particular to continue with drilling on our exciting MB Fluorspar project in Nevada where we have already defined a large maiden Mineral Resource.\"\n \n\n\n\n\nENQUIRIES\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFor further information please contact:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTertiary Minerals plc\n\n\nTel: +44 (0)845 868 4580\n\n\n\n\nPatrick Cheetham, Executive Chairman\n\n\n\n\n\n\n\nRichard Clemmey, Managing Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCantor Fitzgerald Europe\n\n\nTel: +44 (0)20 7894 7000\n\n\n\n\nStewart Dickson/Julian Erleigh (Corporate Finance)\nJeremy Stephenson (Corporate Broking)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBeaufort Securities Limited\n\n\nTel: +44 (0)20 7382 8300\n\n\n\n\nSaif Janjua...