2nd Sep 2015 08:06
LONDON (Alliance News) - Miner Mwana Africa PLC on Wednesday said it is planning to raise GBP3.67 million in an open offer to back work at the Klipspringer diamond mine in South Africa.
Mwana will issue 367.6 million shares at 1.0 pence per share in the open offer, though it also will allow existing shareholders to participate in the issue. Under the terms of the issue, current shareholders will be able to buy 1 open-offer share for each 3.802 ordinary shares they already hold.
Shares in Mwana were untraded on Wednesday, having last traded at 1.15 pence.
In addition to backing the Klipspringer work, the funding will be used to cover corporate restructuring and re-organisational costs, Mwana said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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