Paternoster Resources PLC Subscription for shares in Pires Investments plc (1617O)
November 02 2016 - 9:27AM
UK Regulatory
TIDMPRS
RNS Number : 1617O
Paternoster Resources PLC
02 November 2016
2 November 2016
Paternoster Resources plc
("Paternoster" or the "Company")
Subscription for shares in Pires Investments plc ("Pires")
Paternoster is pleased to announce that it has subscribed for
5,000,000 new ordinary shares in Pires Investments plc, as part of
the company's recent placing, at a price of 3 pence per share for
an aggregate investment of GBP150,000. This will give Paternoster a
shareholding in the company of 17.3% post admission of the placing
shares. As part of this investment, Paternoster will also be
receiving 2,500,000 warrants to subscribe for new ordinary shares
in Pires at a price of 4.25p at any time up to 2 May 2018.
Pires is an investment company listed on AIM with a particular
focus on the natural resources sector. As at 30 April 2016, based
on the company's unaudited half year results statement, the company
had net assets of GBP573,000.
Nicholas Lee, Chairman said
"This investment provides Paternoster with a significant
interest in an AIM listed company with a cash balance at an
attractive valuation."
For more information, please contact:
Paternoster Resources plc:
Nicholas Lee, Chairman +44 20 7580 7576
Nominated Advisor and
Joint Broker:
Stockdale Securities
Antonio Bossi/David Coaten +44 20 7601 6100
Joint Broker:
Peterhouse Corporate Finance
Lucy Williams +44 20 7562 3351
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFFSLILFIIR
(END) Dow Jones Newswires
November 02, 2016 10:27 ET (14:27 GMT)
Riverfort Global Opportu... (LSE:RGO)
Historical Stock Chart
From Apr 2024 to May 2024
Riverfort Global Opportu... (LSE:RGO)
Historical Stock Chart
From May 2023 to May 2024