Golden Prospect Precious Metals Ltd : Confirmat...
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA, ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM) OR ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION.
21 December 2017
GOLDEN PROSPECT PRECIOUS METALS LIMITED
(THE "COMPANY")
Confirmation of Subscription Price
and
Issue of Subscription Shares
Subscription Price
In connection with the bonus issue of Subscription Shares, details of which are set out in the Company's listing document dated 28 November 2017 (the "Listing Document"), the Subscription Price is equal to the published unaudited NAV per Ordinary Share as at the close of business on Wednesday, 20 December 2017 plus a premium depending on the year in which they are exercised (with the resulting Subscription Price being rounded to two decimal places). Accordingly, the Subscription Price will be as follows:
- if Subscription Shares are exercised to have effect on the last Business Day in November 2018, 40.37 pence, being a 5 per cent. premium to the NAV on 20 December 2017, rounded to two decimal places;
- if Subscription Shares are exercised to have effect on the last Business Day in November 2019, 42.30 pence, being a 10 per cent. premium to the NAV on 20 December 2017, rounded to two decimal places; and
- if Subscription Shares are exercised to have effect on the last Business Day in November 2020, 46.14 pence, being a 20 per cent. premium to the NAV on 20 December 2017, rounded to two decimal places;
Issue of Subscription Shares
The Board has today issued 28,500,995 Subscription Shares pursuant to the Bonus Issue, conditional only on the admission of such Subscription Shares to listing on The International Stock Exchange and to trading on the London Stock Exchange's SETSqx platform ("Admission"). Applications have been made for Admission. Admission is expected to beome effective, and dealings are expected to commence in the Subscription Shares, at 8.00 a.m. on 22 December 2017.
Following Admission, there will be 57,002,026 Ordinary Shares and 28,500,995 Subscription Shares in issue. No Shares are held in treasury.
The dealing codes for the Subscription Shares will be as follows:
- ISIN: GG00BD05Z551.
- SEDOL: BD05ZC2.
- Ticker: GPSS.
Expected Timetable
| Admission of Subscription Shares to listing on TISE and to trading on London Stock Exchange's SETSqx platform effective | Friday, 22 December 2017 |
| Crediting of CREST stock accounts in respect of Subscription Shares issued in uncertificated form | Friday, 22 December 2017 |
| Certificates despatched in respect of Subscription Shares issued in certificated form | Week commencing Monday, 25 December 2017 |
| First date on which Subscription Share Rights can be exercised | Last Business Day in November 2018 |
| Second date on which Subscription Share Rights can be exercised | Last Business Day in November 2019 |
| Final date on which Subscription Share Rights can be exercised | Last Business Day in November 2020 |
Enquiries
| CQS (UK) LLP | Craig Cleland | T: +44 (0) 20 7201 5368 |
| Cantor Fitzgerald Europe | Sue Inglis | T: +44 (0) 20 7894 8016 |
| Maitland Administration (Guernsey) Limited | Gareth Smith | T :+44 (0) 1481 749 362 |
Note
Words and expresssions defined in the Listing Document have the same meanings when used in this announcement unless the contaxt otherwise requires.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Golden Prospect Precious Metals Ltd via Globenewswire
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