Glencar Mining PLC
27 July 2000
Glencar Mining plc ('Glencar')
Result of Rights Issue
Glencar announces that its Rights Issue to raise approximately US$5.35
million, net of expenses, has been completed. Approximately 25% of the shares
offered were taken up by qualifying shareholders or their renouncees.
32,601,489 New Ordinary Shares were issued at a price of Stg12p per New
Ordinary Share on the basis of 1 New Ordinary Share for every 2 Ordinary
Shares held.
The balance of 24,551,264 New Ordinary Shares has been taken up by the
underwriters of the issue.
Enquiries:
Mr. Hugh McCullough
Chief Executive
Glencar Mining plc Tel: 353 1 661 9974
Mr. Pascal Keane
Davy Corporate Finance Limited Tel: 353 1 679 6363