Business
Equity Placing
Equity Placing.
About this update from Tooru Plc
[{"type":"text","content":"\n \nRNS Number : 5250S Paternoster Resources PLC 26 June 2018 \n\n \n26 June 2018\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 (\"MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES\n \n \nPaternoster Resources plc\n \n(\"Paternoster\" or the \"Company\")\n \nEquity placing \n \n \nAt the General Meeting of the Company on 8 June 2018, shareholders approved the necessary authorities to raise additional funds, should demand from investors arise, to invest in opportunities that may become available to the Company, given its arrangement with RiverFort Global Capital Limited (\"RiverFort\"), the specialist arranger of funding solutions, primarily to the natural resources sector. Furthermore, it was anticipated that if any such new funds were raised this would be done at or around the prevailing market share price and that an appropriate opportunity would also be made available to existing shareholders to enable them to subscribe for new shares in the Company on similar terms. \n \nPaternoster is therefore very pleased to announce that the Company has now placed (subject to admission to trading on AIM) 4,500,000,000 new ordinary shares of 0.1 pence each (the \"Placing Shares\") at a price of 0.1 pence per share with institutional and other investors to raise gross proceeds of £4,500,000 (the\"Placing\"). The fundraising was oversubscribed and allocations were therefore scaled back.\n \nGoing forward, the Company will now be working closely with RiverFort, to invest the funds raised in attractive opportunities in the natural resources sector.\n \nAs part of the Placing, up to £180,000 has been allocated to the Teathers App, whic...