Issue of Equity

RNS Number : 4615Z

Thor Mining PLC

14 January 2011

 

THOR MINING PLC

Issue of Equity

Dated: 14January 2011

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the exploration company focussed on gold and base metal projects and advancing tungsten-molybdenum projects in the Northern Territory of Australia, today successfully raised a total of approximately £1,100,000 by way of a placing of a total of 49,777,778 new ordinary shares of 0.3p each in the capital of the Company (the "Placing"). Approximately £670,000 by way of a placing of 29,777,778 new ordinary shares of 0.3p each in the capital of the Company (the "UK Placing Shares") to UK sophisticated clients of Simple Investments at 2.25p per UK Placing Share and approximately AUD$700,000 (approximately £440,000 at current exchange rates) by way of a placing of 20,000,000 new ordinary shares of 0.3p each in the capital of the Company (the "AUS Placing Shares") through the issue of 20,000,000 voting CDI's in the Company (the "CDI's") at 3.5 cents per CDI to sophisticated investor clients of Patersons Securities Limited in Australia. The Placing is conditional on the UK Placing Shares and the AUS Placing Shares being admitted to trading on AIM.

Thor today released the following announcement on the Australian Securities Exchange ("ASX")

"Thor Mining PLC hereby applies for a voluntary Trading Halt on the Company's quoted securities (ASX: "THR" & "THRO") pursuant to Listing Rule 17.1 for a period ending no later that the opening of trade on Monday 17^th January 2011 when an announcement concerning a planned Share Placement is expected to be made by the Company.

The Halt should terminate upon release of an announcement of a Share Placement (by way of Chess Depository Interests), to sophisticated investors, to the market.

Thor Mining PLC is not aware of any reason why the trading halt should not be granted."

An application will be made to the London Stock Exchange for the UK Placing Shares and the AUS Placing Shares, which will rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading and dealings are expected to commence at 8:00 a.m. (BST) on Tuesday 25 January 2011. In Australia an application will be made to the Australian Securities Exchange (the "ASX") for the quotation of New CDI's. Dealings are expected to commence on Tuesday 25 January 2011.

Following the issue of the UK Placing Shares and the AUS Placing Shares the Company's total issued share capital will be 489,058,654 ordinary shares of 0.3p each. In accordance with the Financial Services Authority Disclosure and Transparency Rules, the Company has 489,058,654 Ordinary Shares of 0.3p each in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury.

The above figure of 489,058,654 Ordinary Shares may 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 to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

Enquiries:

Mick Billing	[phone]	Thor Mining PLC	Executive Chairman
Allan Burchard	[phone]	Thor Mining PLC	CFO/Company Secretary
John Simpson	[phone]	Daniel Stewart & Co. plc	Nominated Adviser
Nick Emerson/ Renato Rufus	[phone]	Simple Investments	Broker

Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email.

 

END

 

 

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