Business
Issue of Equity, Appointment of Broker and TVR
Issue of Equity, Appointment of Broker and TVR.
About this update from Wishbone Gold Plc
[{"type":"text","content":"\n \n \n RNS Number : 6512O\n Wishbone Gold PLC\n 02 June 2020\n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation\n \n \n (EU) No. 596/2014 (\"MAR\")\n \n \n \n \n \n \n \n \n \n \n \n 2 June 2020\n \n \n \n \n \n Wishbone Gold Plc\n \n \n (\"Wishbone\" or the \"Company\")\n \n \n Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN\n \n \n \n \n \n Placing of New Ordinary Shares,\n \n \n Conversion of Loans, Conversion of Directors and Management Fees to Shares \n \n \n Appointment of Broker\n \n \n And\n \n \n Total Voting Rights\n \n \n \n \n \n Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), the precious metals trading and exploration company has issued and allotted on Friday, 29 May 2020, a total of 63,459,420 new ordinary shares of 0.1 pence each (the \"Ordinary Shares\") at a price of 1.35 pence per share as agreed by the Board on 22 May 2020 (the \"Issue\"). The Issue price of 1.35p represents a 7% per cent. discount to the latest closing price on AIM of 1.45p as at 29 May 2020.\n \n \n The breakdown of the issue of Ordinary Shares is as follows:\n \n \n 1. 22,222,221 Ordinary Shares for the raising of £300,000 (before expenses) through a placing via Peterhouse Capital Limited (\"Peterhouse\"). Peterhouse has been appointed as Broker to the Company with immediate effect. £100,000 of this placing was subscribed by Black Swan FZE for 7,407,407 Ordinary Shares.\n \n \n \n \n \n 2. 13,014,002 Ordinary Shares is issued to settle the Directors and Management Fees of £175,689.02.\n \n \n \n \n \n 3. 28,223,197 Ordinary Shares for the conversion of the outstanding loans with Sanderson Capital Partners Limited (\"Sanderson\") and Black Swan FZE (receiving 8,638,686 Ordinary Shares) and to discharge sundry other creditors. This results in the conversion of £292,889.61 for both loans and 88,123.55 for other creditors.\n \n \n \n \n \n This restructuring leaves the company with no significant liabilities and sufficient cash to continue operations for the foreseeable future. COVID-19 has had a severe impact on the physical gold trade, particularly in Dubai where the grounding of Emirates Airlines cut off the su...