Primorus Investments PLC Issue of Equity and Appointment of Broker (2926X)
November 23 2017 - 1:00AM
UK Regulatory
TIDMPRIM
RNS Number : 2926X
Primorus Investments PLC
23 November 2017
Primorus Investments plc
("Primorus" or the "Company")
Issue of Equity and Appointment of Turner Pope Investments as
Company Broker
Primorus (AIM: PRIM, NEX: PRIM) announces that it has raised
GBP1 million, gross of expenses, through the issue of 500,000,000
new ordinary shares of 0.01p each in the Company ("Placing Shares")
at a placing price of 0.20p pence per share with certain
institutional and private investors (the "Placing"), being a small
premium to the mid-market closing price of 0.195p on 22 November
2017.
Furthermore, Primorus is delighted to advise that Turner Pope
Investments Limited ("TPI") has been appointed as sole broker to
the Company.
The funds raised will be used to assist in progressing possible
investment opportunities that the Company is currently looking at
and for general working capital purposes. Application is being made
for the Placing Shares, which will, on issue, rank pari passu with
the existing ordinary shares, to be admitted to trading on AIM and
such admission is expected to occur on or around 30 November 2017.
The Placing Shares will be admitted to trading on NEX Exchange
simultaneously with the admission to trading on AIM.
Alastair Clayton, Executive Director, commented "We are pleased
to report a fundraising at a small premium to the mid-market
closing price of 0.195p for investment and working capital
purposes. We are also pleased to announce the appointment of Turner
Pope Investments as Broker to the Company. TPI acted as agents for
this fundraise and we are delighted to be working alongside them at
this exciting time for the Company."
He added, "As shareholders will know, we have a portfolio of
pre-IPO and private investments, which we expect to mature through
the investment process towards either IPO and or trade sale. We
look forward to updating shareholders as our pipeline evolves and
we hope to be in a position to update the market soon on the
proposed work programme and timetable for the previously flagged
long-term flow test at the Horse Hill-1 oil discovery."
Following completion of the Placing, the Company will have
2,796,619,343 Ordinary Shares in issue with voting rights and
admitted to trading on AIM and NEX Exchange. This figure may be
used by shareholders in the Company as the denominator for the
calculation by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Primorus Investments plc: +44 (0) 20 7440 0640
Alastair Clayton
Nominated Adviser: +44 (0) 20 7213 0880
Cairn Financial Advisers LLP
James Caithie / Sandy Jamieson
Broker: +44 (0) 20 3621 4120
Turner Pope Investments (TPI)
Limited
Andy Thacker
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUUAURBKAAUUA
(END) Dow Jones Newswires
November 23, 2017 02:00 ET (07:00 GMT)
Primorus Investments (LSE:PRIM)
Historical Stock Chart
From Apr 2024 to May 2024
Primorus Investments (LSE:PRIM)
Historical Stock Chart
From May 2023 to May 2024