Thor Mining PLC EXERCISE OF WARRANTS (0436W)
November 09 2017 - 4:00AM
UK Regulatory
TIDMTHR
RNS Number : 0436W
Thor Mining PLC
09 November 2017
9 November 2017
THOR MINING PLC
EXERCISE OF WARRANTS
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR), is pleased to advise that it has received binding
warrant exercise notices for the conversion of 10,773,161 warrants
at the exercise prices shown below, resulting in aggregate gross
proceeds being receivable by the Company of GBP125,961.
This brings the total gross proceeds from the exercise of
warrants and options since the beginning of November 2017 to
GBP493,539.
Number of warrants Exercise price Proceeds received
Exercised
------------------- --------------- ------------------
2,486,595 0.9 pence LIR22,379
8,286,566 1.25 pence LIR103,582
Settlement and dealings
Application will be made to the AIM Market of the London Stock
Exchange ("AIM") for 10,773,161 Thor ordinary shares of 0.01p each
("Ordinary Shares"), pursuant to the warrant exercise, which rank
pari passu with the Company's existing issued Ordinary Shares, to
be admitted to trading. Dealings on AIM are expected to commence at
8:00am on or around 15 November 2017 ("Admission").
Mick Billing, Executive Chairman, commented:
"The money from warrant and option conversions, when added to
the GBP565,000 raised during the recent placing (partially
conditional upon shareholder approval at the forthcoming AGM) has
boosted the Company's financial position by more than GBP1million.
This will allow the Company to focus on commercialisation of its
key interests with confidence it is in a robust financial
position."
"As previously advised, the Company is transitioning from
exploration work to scoping, feasibility, and hopefully development
in all its key projects, and newsflow on these will be provided to
the market in the near term."
Total Voting Rights
Following the admission to trading on AIM of the Ordinary Shares
issued pursuant to the warrant exercises announced on 2 November
2017 and 7 November 2017, Thor will have 484,328,860 Ordinary
Shares in issue with voting rights attached.
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission, Thor
will have 495,102,021 Ordinary Shares in issue with voting rights
attached. Thor holds no shares in treasury. This figure of
495,102,021 may be used by shareholders in the Company 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 ASX Listing Rules or the
DTRs.
Subject to receiving shareholder approval at the forthcoming AGM
to complete the conditional placing announced on 20 October 2017,
and assuming that Thor issues no further Ordinary Shares in the
meantime, following the completion of the conditional placing, Thor
will have 536,253,335 Ordinary Shares in issue.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining Executive
1935 PLC Chairman
Ray Ridge +61 (8) 7324 Thor Mining CFO/Company
1935 PLC Secretary
Colin Aaronson/ +44 (0) 207 Grant Thornton Nominated
Daniel Bush/ 383 5100 UK LLP Adviser
Richard Tonthat
Elliot Hance +44 (0) 207382 Beaufort Securities Joint Broker
8300 Limited
Nick Emerson +44 (0) 1483 SI Capital Ltd Joint Broker
413 500
Tim Blythe/ Camilla +44 (0) 207 Blytheweigh Financial
Horsfall 138 3222 PR
Updates on the Company's activities are regularly posted on
Thor's website www.thormining.com, which includes a facility to
register to receive these updates by email, and on the Company's
twitter page @ThorMining.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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