Minoan Group PLC Result of Placing and Subscription (3812W)
August 18 2020 - 1:00AM
UK Regulatory
TIDMMIN
RNS Number : 3812W
Minoan Group PLC
18 August 2020
18 August 2020
Minoan Group Plc
("Minoan" or the "Company")
Placing and Subscription
The Directors of Minoan are pleased to announce a successful
placing of, and subscription for, ordinary shares arranged by Pello
Capital Limited. The total amount raised is GBP250,000. The shares
will be issued at 1.1p per share and the placees/subscribers will
also receive one warrant to subscribe for an ordinary share at 1.4p
per share for every three shares taken up in the
placing/subscription. The warrants will have the same terms as
those issued in relation to the refinancing with DAGG LLP as
announced on 21 July 2020.
A total of 13,909,091 shares in the Company have been placed by
Pello Capital Limited with private investors at a price of 1.1
pence per share. A further 8,818,183 ordinary shares have been
subscribed for on the same terms as the placing shares, including
4,545,455 ordinary shares by Grahame Cook, a non-executive
director. The shares are expected to be admitted trading on AIM on,
or around, 21 August 2020.
Chairman's Comment
I am very pleased to be announcing this successful Placing and
Subscription, which follows the Company's Interim Results
Announcement and the previously announced Refinancing.
As stated in my Chairman's Statement in the Interim Results
Announcement, with the global lockdown beginning to ease we will
accelerate the discussions with parties interested in participating
in the Project.
For further information visit www.minoangroup.com or contact:
Christopher Egleton christopher.egleton@minoangroup.com
Bill Cole william.cole@minoangroup.com
W H Ireland Limited 020 7220 1666
Adrian Hadden/Lydia Zychowska
Pello Capital Limited 020 7710 9610
Mark Treharne
Sapience Communications Limited 020 3195 3240
Richard Morgan Evans
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END
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