6th Nov 2020 15:46
Beowulf Mining PLC - exploration and development company - Intends to conduct an open offer of up to 225.8 million new shares at 3.16 pence each on a pre-emptive basis to raise up to GBP7.3 million. The company will also receive a further conditional subscription of 88,800 new shares to raise GBP2,806. In order to ensure that existing holders of Swedish depository receipts are able to participate in the open offer, Beowulf intends to instruct Sedermera Fondkommission, as issuing agent in the Swedish market, to offer the shares' entitlements to qualifying Swedish depository receipts holders in Sweden for subscription by way of a rights issue of up to SEK56.7 million, about GBP5.0 million, at a price of SEK0.370. The net proceeds from the fundraising will be used to advance the company's portfolio of assets in Sweden, Finland and Kosovo, it says.
Current stock price: 5.00 pence
Year-to-date change: down 4.8%
By Evelina Grecenko; [email protected]
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