Issue of Equity

RNS Number : 7175G

Regency Mines PLC

02 July 2012

 



REGENCY MINES PLC

Issue of Equity

Dated: 02 July 2012

Regency Mines plc ("Regency" or the "Company") announces that it has placed with brokers and institutions in London 64,600,000 new ordinary shares of 0.1p each (the "Ordinary Shares") at a price of 1.25 pence per share, of which  16,000,000 new Ordinary Shares have been placed with Red Rock Resources plc ("RRR") ( the "Placing").  The Placing of these 64,600,000 new Ordinary Shares will raise, in aggregate, £807,500 before expenses.

Following the Placing, RRR will hold 33,900,000 shares in Regency, amounting to 4.65 per cent of the issued share capital of the Company as enlarged by the Placing.

The net proceeds of the Placing will be applied towards payment of liabilities including debt, joint venture expenditures in Papua New Guinea, exploration and laboratory testwork in Australia, and future  working capital purposes.

The Placing will take place in three tranches with settlement of 28,000,000 new Ordinary Shares taking place on 6 July 2012 (the "First Tranche"), settlement of 28,600,000 new Ordinary Shares on 16 July 2012 (the "Second Tranche") and the balance of 8,000,000 new Ordinary Shares settling on 30 July 2012 (the "Third Tranche").  

Application will be made to the London Stock Exchange for the 64,600,000 Ordinary Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM.

Dealings are expected to commence at 8.00 a.m. on or around 9 July 2012 for the First Tranche, following which the Company's total issued ordinary share capital will be 691,084,209 ordinary shares of 0.1p. 

Dealings in the Second Tranche are expected to commence at 8:00 am on or around the 18 July 2012, following which the Company's total issued ordinary share capital will be 719,684,209 ordinary shares of 0.1p.

Dealings in the Third Tranche are expected to commence at 8:00 am on or around the 1 August 2012, following which the Company's total issued ordinary share capital will be 727,684,209 ordinary shares of 0.1p.

For further information contact:

Andrew Bell	0207 402 4580 or 07766 474849	Regency Mines plc	Chairman
Sandra Spencer	0207 402 4580 or 07757 660 798	Regency Mines plc	Public and Investor Relations
Phillip Davies/David Porter	020 7444 0800	Religare Capital Markets	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker

Updates on the Company's activities are regularly posted on its website, www.regency-mines.com.

 

END

 

 

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