Regency Mines PLC Close of Live Market Bookbuild, Issue of Equity (6655U)
January 19 2017 - 11:31AM
UK Regulatory
TIDMRGM
RNS Number : 6655U
Regency Mines PLC
19 January 2017
REGENCY MINES PLC
("Regency" or the "Company")
Close of Live Market Bookbuild
Issue of Equity
Total Voting Rights
19 January 2017
Further to the announcement of 18 January 2017, Regency Mines
plc announces that the Live Market Bookbuild through the Teathers
mobile application (the "Teathers App") has closed oversubscribed
and that consequently GBP50,000 has been raised and 12,500,000 new
ordinary shares of 0.01 pence each ("Shares") in the Company will
be issued at a price of 0.4p per share with 1 for 1 warrants
exercisable at a price of 0.8p for twenty-four months
("Placing").
The purpose of the Placing is to increase the Company's working
capital.
This will be the first Live Market Bookbuild offered via the
Teathers App. Only onboarded users of the Teathers App were able to
participate in the Live Market Bookbuild.
Andrew Bell, Regency Chairman, states: "This was the first Live
Market Bookbuild offered via the Teathers App, which is so far only
available on the iPhone platform and was only available to
onboarded users. Given that the placing was at market price, and
was only open for subscription for one and a half trading days, the
fact that it closed oversubscribed is a vote of confidence both in
the Company and in the App. We believe this will prove a useful
tool for companies such as ourselves when they seek efficient
access to market capital, and wish to offer existing shareholders
transparent access to share issues. We are pleased to have been a
pioneer in demonstrating the concept."
Further Information and Additional Terms
The Placing is conditional on admission of the Shares to trading
on AIM ("Admission").
Application has been made to the London Stock Exchange for
Admission of the Shares, which will rank pari passu with the
Company's existing issued Ordinary Shares. Dealings are expected to
commence at 8.00 a.m. on or around 27th January 2017
Total Voting Rights
Following the Placing, the Company's total issued ordinary share
capital will consist of 407,384,571 Shares with voting rights. No
Shares are held in treasury.
The above figure of 407,384,571 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 and
Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Background Information
Regency Mines is a natural resource development and investment
company with interests in oil and mineral exploration, and in the
production of metallurgical coal. Regency holds energy interests in
Horse Hill Development Limited, that has discovered substantial oil
deposits near Gatwick, Curzon Energy plc, with development
interests in coal bed methane in Oregon, and Carbon Minerals
Corporation, which is currently re-opening the Rosa metallurgical
coal mine in Alabama. Regency also controls the Mambare project in
Papua New Guinea, where it established through exploration a large
nickel-cobalt Resource, and the Motzfeldt tantalum-niobium Resource
in southern Greenland.
The Teathers App is a mobile app designed to give qualified
private investors access to placements & Initial Public
Offerings (IPOs), predominantly on the London Stock Exchange's
Alternative Investment Market (AIM). There are currently 993
companies listed on AIM. During the course of 2016 these companies
have raised GBP3.27 billion in secondary fundraisings (placements)
(DATA: AIM Statistics to end Nov. 2016).
The Teathers App is an execution only platform. When an
AIM-listed company raises money by private placement, "onboarded"
users of the Teathers App have the opportunity to participate in
the placement on the same terms as other investors. An "onboarded"
user of the Teathers App is one who has already opened a brokerage
account with Shard Capital. Shard Capital is the broker supporting
the re-launch of the Teathers App and provides the necessary
environment, including compliance oversight and client
identification. Shard Capital is authorised and regulated by the
FCA.
The Teathers App is currently available in the App Store. A
version of the Teathers App will be released in Google Play in Q1
2017.
For further information, please contact:
Andrew Bell 0207 747 9960 Chairman Regency Mines Plc
Scott Kaintz 0207 747 9960 Executive Director Regency Mines
Plc
Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0129 351 7744 Broker Dowgate Capital
Stockbrokers Ltd.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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