Business
Placing of shares
Placing of shares.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7958U Thor Mining PLC 05 December 2013 \n \n\n5 December 2013\n \nTHOR MINING PLC\n \nShare Placement to boost advanced tungsten and gold projects\n \nThe Directors of tungsten and gold focused developer, Thor Mining PLC (\"Thor\" or the \"Company\") (AIM, ASX: THR), are pleased to announce that the Company has raised A$200,000 (approximately £112,000) by way of a Placement of 40,000,000 new ordinary shares of 0.01p each (\"Ordinary Shares\") in the capital of the Company (the \"Placement\") to sophisticated investors, at 0.5 cents (approximately 0.28p) per share. \n \nThe proceeds of the Placement will be used to fund the Company's working capital requirements, including continued assessment and exploration of its advanced tungsten and gold projects in Australia's Northern Territory primarily, and where prudent, its gold project in Western Australia.\n \nCompletion of the Placement and receipt of funds is expected to be finalised by 6 December 2013. In addition, the Company has issued 25,000,000 Ordinary Shares to directors under the authorities granted at its annual general meeting held on 28 November 2013. Application will be made for the admission to trading on AIM of the 65,000,000 new Ordinary Shares, with admission expected to take place on 11 December 2013.\n \nAs a result of the issue of shares to directors, the revised holdings of those directors will be as follows:\n \n\n\n\n\n\n\n\nShares issued\n\n\nResultant holding\n\n\nPercentage of enlarged share capital\n\n\n\n\nMichael Billing\n\n\n13,571,428\n\n\n30,354,773\n\n\n2.26%\n\n\n\n\nMichael Ashton\n\n\n2,857,143\n\n\n24,132,745\n\n\n1.80%\n\n\n\n\nGregory Durack\n\n\n2,857,143\n\n\n8,969,087\n\n\n0.67%\n\n\n\n\nTrevor Ireland\n\n\n2,857,143\n\n\n8,394,929\n\n\n0.63%\n\n\n\n\nDavid Thomas\n\n\n2,857,143\n\n\n6,185,502\n\n\n0.46%\n\n\n\n\n \nThe Placement utilises a portion of the available 15% capacity of the Company's issued capital prior to the placement pursuant to ASX Listing Rule 7.1. Following the allotment of these shares, Thor Mining PLC will have 1,341,661,459Ordinary Shares in issue.\n \n \nEnquiries:\n \n\n\n\n\nMick Billing\n\n\n+61 (8) 7324 1935\n \n\n\nThor Mining PLC\n\n\nExecutive Chairman\n\n\n\n\nAllan Burchard\n\n\n+61 (8) 7324 1935\n \n\n\nThor Mi...