13th May 2009 07:00
13 May 2009
Beacon Hill Resources Plc
Placing to raise £225,000
Beacon Hill Resources Plc ("Beacon Hill" or the "Company") (AIM: BHR) today announces that it has conditionally raised £225,000 (before expenses) by way of a placing of 90,000,000 new Ordinary Shares at a price of 0.25p each (the "Placing Shares"). The Placing has been performed under existing share allotment authorities. Proceeds from the raising will go towards general working capital for the Company.
As part of the Placing, Justin Lewis, Chairman of the Company, has subscribed for 10,000,000 Placing Shares equating to 4.29% of the enlarged issued share capital of the Company. Justin Lewis has no other interest in the Company.
The Placing Shares equate to 38.63% of the enlarged issued capital of the Company. Following admission of the Placing Shares to trading on AIM, Beacon Hills' total issued and voting share capital will comprise 233,000,000 Ordinary Shares. This figure may be used by shareholders 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, securities of the Company.
Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that admission will take place on 18 May 2009. Completion of the Placing is conditional, amongst other things, on such admission becoming effective. The Placing Shares will rank pari passu in all respects with the existing issued ordinary shares of the Company.
For further information, call:
|
Justin Lewis, Beacon Hill Resources Plc |
+61 (0)3 9537 1540 |
|
William Vandyk, Blue Oar Securities Plc |
020 7448 4400 |
|
Olly Cairns, Blue Oar Securities Plc |
+61 (0)8 6430 1631 |
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Related Shares:
BHR.L