30th Sep 2014 14:50
LONDON (Alliance News) - New World Resources PLC Tuesday said it got valid acceptances of around 75.1% for its rights issue but secured no subscribers for the rump placing later in the day.
The company said it got acceptances in respect of 3.8 billion new A shares representing approximately 75.1% of the total number of shares issued under its 19 for 1 rights issue of 5 billion shares announced in July.
CERCL Mining, the biggest shareholder in New World, took up its full entitlement to 168.2 million shares under the rights issue and subscribed to a further 3.2 billion shares at the issue price of EUR0.0004.
The rump placing announced later Tuesday, run by JPMorgan Securities PLC, saw no subscribers take any of the new A shares issued in the rights issue, New World said.
New World Resources shares were untraded on Tuesday, quoted at 0.01 pence per share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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