Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Placing

31st Mar 2015 15:00

RNS Number : 9919I
Golden Saint Resources Ltd
31 March 2015
 



31 March 2015

Golden Saint Resources Ltd

 

("Golden Saint" or the "Company")

 

Placing

 

The board of Golden Saint (AIM: GSR) ("Board") is pleased to announce that that on 31 March 2015 the Company raised £450,000 before expenses, by way of a placing to institutional and other investors of 300,000,000 new Ordinary Shares of no par value in the Company ("Ordinary Shares") ("Placing Shares") at a placing price of 0.15 pence per share ("Placing"). Expenses of the Placing payable by the Company are £30,327 in cash and warrants over 25,000,000 new Ordinary Shares exercisable at 0.15 pence (being the placing price) until 9 April 2018. The warrants represent a value of £37,500. The Placing is conditional only upon admission of the Placing Shares to trading on AIM and has been carried out within the Company's existing share authorities. 

 

The Company intends to use the proceeds of the Placing for general working capital purposes.

 

The Placing Shares will rank pari passu with the existing Ordinary Shares and application has been made for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Placing Shares will commence at 8.00 a.m. on 9 April 2015.

 

Following Admission of the Placing Shares, the Company's issued share capital will consist of 1,104,457,570 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. This number 1,104,457,570 may be used by shareholders, following the Placing, 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 share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules of which the Company has incorporated Chapter 5 into its articles of association.

 

Mr Cyril D'Silva, Executive Chairman commented; "I am delighted to see support from the market for Golden Saint and the Board looks forward to progressing with the Company's bulk sampling programme during the remainder of the dry season."

 

 

For further information please contact:

 

Golden Saint Resources Ltd

 

Cyril D'Silva, Executive Chairman

+618 64677778

Beaumont Cornish Limited

 

Roland Cornish / Emily Staples

+44 (0) 20 7628 3396

Cornhill Capital Limited

 

Nick Bealer

+44 (0)20 7710 9612

Newgate

 

Tim Thompson / Robyn McConnachie/ Helena Bogle

+44 (0)20 7653 9850

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBFLFXEXFLBBD

Related Shares:

Golden Saint Resources
FTSE 100 Latest
Value8,772.38
Change55.93