Contango
Holdings Plc / Index: LSE / Epic: CGO / Sector: Natural
Resources
20 January 2025
Contango
Holdings PLC
("Contango" or the "Company")
Publication of
Prospectus
Contango Holdings Plc is pleased to
announce that it has today published a Prospectus for the issue of
191,255,217 New Ordinary Shares in connection with the issue of the
Subscription Shares and Fee Shares.
On 17 June 2024, the Company
announced that it had entered into a term sheet with Huo
Investments (Pvt) Limited ("Investor") for the disposal of 51% of
Muchesu ("Monaf Investment Agreement" or "MIA")) in consideration
of i) a facility to invest a further $20m at Muchesu, ii) a royalty
agreement with Monaf that pays the Company on coals produced for
the life of mine; and iii) a subscription of 142,000,000 ordinary
shares at the issue price of £0.0111 for $2m with the Company (the
"Transaction").
Following the issue of the
Prospectus, the Company may now complete the Subscription for
166,666,665 New ordinary Shares raising gross proceeds of
£1,850,000. Huo Investments (Pvt) Limited will hold
142,000,000 shares in the Company resulting in a holding of
approximately 19%, being the largest shareholder of the Company.
Net Proceeds of £1,775,000 will be dedicated to the working capital
of the Company. The Company is targeting to complete to close the
Transaction in Q1 2025 pending the finalisation of the Definitive
Agreements.
A copy of the Prospectus has been
submitted to the National Storage Mechanism and will shortly be
available for inspection
at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A
copy will also be made available on https://www.contango-holdings-plc.co.uk/.
Application to listing and
trading
The Company will make an application
for the 191,255,217 New Ordinary Shares to be admitted to trading
on the Equity Shares (transition) category of the Official List and
the Main Market of the London Stock Exchange at 8.00 a.m. on 24
January 2025. The expected timetable of principal events for
Admission is set out below. All references to time in this
announcement are to London time. Any changes to the expected
timetable will be notified by the Company though an RIS.
Total Voting Rights
The Company hereby notifies the
market, in accordance with the FCA's Disclosure Guidance and
Transparency Rule 5.6.1, that on Admission, the Company's expected
issued share capital will consist of 757,979,240 Ordinary Shares,
each with one vote. The Company does not hold any Ordinary Shares
in Treasury. On Admission, the total number of voting rights in the
Company is expected to be 757,979,240 and this figure may be used
by Shareholders as the denominator for the calculations by which
they will determine if they are required to notify their interest
in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Expected Timetable of Events
|
Publication of the
Prospectus
|
20 January 2025
|
|
Admission and commencement of
dealings in the Enlarged Share Capital
|
8.00 a.m. on 24 January
2025
|
|
Crediting of New Ordinary Shares to
CREST
|
24 January 2025
|
|
Certificates for the New Ordinary
Shares
|
Within 10 business days of
Admission
|
Unless otherwise defined, capitalised terms used in this
announcement shall have the same meaning as set out in the
Prospectus.
**ENDS**
|
Contango Holdings plc
Chief Executive
Officer
Carl Esprey
|
E:
contango@stbridespartners.co.uk
|
|
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Tavira Financial Limited
Financial Adviser &
Broker
Jonathan Evans
|
T: +44 (0)20 7100 5100
|
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St
Brides Partners Ltd
Financial PR & Investor
Relations
Susie Geliher
|
T: +44 (0)20 7236 1177
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