GCM Resources PLC Successful fundraising of £2m via PrimaryBid (9051W)
November 20 2017 - 1:00AM
UK Regulatory
TIDMGCM
RNS Number : 9051W
GCM Resources PLC
20 November 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
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WOULD BE PROHIBITED BY ANY APPLICABLE LAW.
20 November 2017
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Successful fundraising of GBP2 million via PrimaryBid
GCM Resources plc, a London based resource exploration and
development company, announced on 17 November 2017 the launch of an
institutionally underwritten Offer to raise approximately GBP2
million at 34.4p per New Ordinary Share.
The gross proceeds of the fundraising are GBP2 million (GBP1.8
million net of costs).
The Company will therefore issue and allot a total of 5,813,953
New Ordinary Shares to satisfy the Offer. Application has been made
to the London Stock Exchange for these New Ordinary Shares, which
rank pari passu with the Company's existing Ordinary Shares, to be
admitted to trading on AIM. Dealings are expected to commence at
8.00 a.m. on 24 November 2017.
Total Voting Rights
Following the issue of the New Ordinary Shares, the Company will
have 88,175,650 ordinary shares of 10p each in issue. No Ordinary
Shares are held in treasury. The figure of 88,175,650 may be used
by the Company's 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 Financial Conduct Authority's Disclosure Rules
and Transparency Rules.
Datuk Michael Tang, Executive Chairman of GCM, commented:
"We are delighted with the positive response we have received
from both new and existing shareholders. The offer through
PrimaryBid has enabled private shareholders to participate on the
same terms as the institutions. The funds raised will put GCM in a
strong position to further the mine mouth plant proposal in
Northern Bangladesh together with our strategic partner CGGC."
Defined terms in this announcement shall have the same meaning
as in the Company announcement of 17 November 2017, unless
otherwise specified.
For further information:
GCM Resources plc Northland Capital Partners
James Hobson Ltd
Finance Director Nominated Adviser and
+44 (0) 20 7290 1630 Broker
info@gcmplc.com; www.gcmplc.com Tom Price
+44 (0) 203 861 6625
PrimaryBid Limited
Dave Mutton
020 7491 6519
This information is provided by RNS
The company news service from the London Stock Exchange
END
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