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Blenheim Natural Res (TSI)

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Monday 25 September, 2017

Blenheim Natural Res

Placing to Raise £900,000

RNS Number : 6386R
Blenheim Natural Resources PLC
25 September 2017
 

25 September 2017

Blenheim Natural Resources Plc

("Blenheim" or the "Company")

Placing to Raise £900,000 

The Company is pleased to announce that it has raised a total of £900,000 before expenses through a placing ("Placing") of 200,000,000 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at a price of 0.45 pence per Ordinary Share (the "Placing Price"). The Company will use the funds raised by the Placing to make further investments in accordance with its investing policy.

Application will be made for the admission of the new Ordinary Shares to trading on AIM ("Admission"), with Admission expected to take place on or around 28 September 2017.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 926,174,497 Ordinary Shares, each with voting rights. The above figure of 926,174,497 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 in their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

In connection with the Placing, the Company has also agreed to issue 10,000,000 warrants over Ordinary Shares to Novum Securities Ltd ("Warrants"). Each Warrant entitles the holder to subscribe for one Ordinary Share at an exercise price of 0.65 pence per Ordinary Share and will be exercisable at any time for a period of two years from the date of issue of Ordinary Shares pursuant to the Placing.

 Blenheim's Chairman, Chris Ells, commented: "Funds raised from this Placing will significantly strengthen the Company's Balance Sheet and thereby provide Blenheim with further firepower to actively pursue its pipeline of investment opportunities with particular emphasis on the lithium and new energy space in Africa."

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

For further information please contact:

Chris Ells                                               Blenheim Natural Resources Plc                         +44(0)1622 844601

 

Neil Baldwin/Mark Brady              SPARK Advisory Partners Limited                       +44(0)203 368 3554

 

Nick Emerson

SI Capital Ltd

      +44(0)1483 413500

Lucy Williams / Duncan Vasey

Peterhouse Corporate Finance Limited

      +44(0)207 469 0930

Nick Bealer

Cornhill Capital Limited

      +44(0)207 710 9610

 

 

 

                                                                                                                                                        


This information is provided by RNS
The company news service from the London Stock Exchange
 
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