Issue of Equity & Total Voting Rights

RNS Number : 9263P

Independent Resources PLC

24 February 2016

 

Independent Resources plc

("IRG" or the "Company")

Issue of Equity

Total Voting Rights

Independent Resources plc today announces the issue of a total of 6,000,000 new ordinary shares in the Company.

These new ordinary shares in the Company are being issued at a price of 0.6p per share in payment for services rendered in relation to the Company's operations. 

The issue price is the same price at which the Company completed its most recent equity fundraising of £800,000 in November 2015 and represents a premium of approximately 445 per cent. over the closing middle market price of 0.11p on 22 February 2016.  The new ordinary shares represent approximately 1.79% of the existing issued share capital.

Application has been made for a total of 6,000,000 new ordinary shares, which will rank pari passu with all existing ordinary shares in the Company, to be admitted to trading on AIM ("Admission").    Admission is expected to take place on 26 February 2016.

The Company has no ordinary shares held in treasury and as a result, the total number of voting rights in the Company will be 341,924,701.

This figure may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

For more information, please visit www.ir-plc.com or contact:

Greg Coleman		Independent Resources plc	020 3367 1134
Mark Taylor		Panmure Gordon (UK) Limited	020 7886 2500
		(Nominated Adviser & Joint Broker)
Oliver Stansfield		Brandon Hill Capital	020 3463 5000
Jonathan Evans		(Joint Broker)
Simon Hudson		Tavistock Communications	020 7920 3150

 

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