17 May Result of Placing and Subscription
Appointment of Joint Broker
Anglesey Mining Plc (AIM:AYM) is pleased to announce that, further to its announcement of 5.15 p.m. (London time) on 16 May 2022, it has successfully completed and closed the Placing and Subscription.
The Placing and Subscription has raised, in aggregate, gross proceeds of £864,416. The Placing comprises the placing of 22,829,705 Ordinary Shares (the “Placing Shares”) with certain institutional and other investors at a price of 3.4 pence per share (the “Issue Price”), thereby raising £776,210 gross proceeds. Concurrent with the Placing, certain Directors of the Company have agreed to subscribe for an additional 2,594,284 New Ordinary Shares (“Subscription Shares”) at the Issue Price, thereby raising further gross proceeds of £88,206.
In aggregate, therefore, 25,423,989 New Ordinary Shares will be issued pursuant to the Fundraising and a further 6,681,000 New Ordinary Shares (the Capitalisation Shares”) will be issued to Juno Limited pursuant to the Juno Debt Restructuring.
The Fundraising is conditional only on Admission.
The net proceeds of the Placing and Subscription will be applied to advancing the Parys Mountain Cu-Zn-Pb-Ag-Au project through additional technical activities, restructuring the Company’s working capital facility with Juno Limited and for general working capital purposes.
Appointment of Joint Broker
The Company also confirms today that it has appointed WH Ireland Limited as its joint broker with immediate effect.
Directors John Kearney and Jo Battershill participated in the Subscription as set out below.
|Name||Amount subscribed in Subscriptions||Holding of Existing Ordinary Shares||Number of Ordinary Shares held post Admission of the Placing Shares||% of Ordinary Share Capital held post Admission of the Placing Shares|
Each of John Kearney and Jo Battershill participated on the same terms as all other placees.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM. It is expected that admission will become effective and dealings in the New Ordinary Shares commence on AIM at 8.00 a.m. on 20 May 2022 (or such later date as may be agreed between the Company and the Bookrunners, but no later than 24 June 2022).
The New Ordinary Shares will be issued fully paid and will rank pari passu in all respects with the Company’s existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 280,175,721 with voting rights (assuming issue of the Placing Shares, the Subscription Shares and, the Capitalisation 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, the Company’s share capital pursuant to (i) the Company’s Articles, (ii) the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.
Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Company’s announcement made at 5.15 p.m. on 16 May 2022, unless the context requires otherwise.
Jo Battershill, CEO, comments: “The completion of the placement and renegotiation of the Juno working capital facility is an important milestone for of Anglesey Mining. We are very pleased to welcome new investors onto the register and see the strong demand as recognition of the potential quality of the asset base. The placing will provide funds to generate strong news flow and potentially substantial value creation for Anglesey’s shareholders.
“The additional funding for Parys Mountain will enable management to commence important infill drilling of the Northern Copper Zone – an area of significant interest and potential resource upside – confirmatory metallurgical testwork, tailings storage design work and the environmental and permitting activities.
“We are also very pleased to have renegotiated the working capital facility with our largest shareholder, Juno. The partial conversion of debt for equity by way of direct subscription alongside the Placing demonstrates the ongoing support for which are very thankful.”
For further information on the Company, please visit www.angleseymining.co.uk or contact:
Anglesey Mining Plc www.angleseymining.co.uk
John Kearney Tel: +1 416 362 6686
Jo Battershill, Chief Executive Tel: +44 (0) 7540 366000
Davy (Nominated Adviser & Joint Broker)
John Frain Tel: +353 1 679 6363
WH Ireland Limited (Joint Broker & Joint Bookrunner)
Harry Ansell Tel: +44 (0) 207 220 1666
Canaccord Genuity Limited (Joint Broker & Joint Bookrunner)
James Asensio Tel: +44 (0) 20 7523 8000
Scout Advisory Limited (Investor Relations)
Sean Wade Tel: +44 (0) 7464 609025
Full announcement pdf – Result of placing 17 May 22