Mercer Resources PLC Issue of Equity (8100S)
November 12 2013 - 6:59AM
UK Regulatory
TIDMMCR
RNS Number : 8100S
Mercer Resources PLC
12 November 2013
12 November 2013
Mercer Resources Plc (AIM: MCR)
("Mercer" or the "Company")
Issue of Equity
The board of Mercer (the "Board") is pleased to announce that,
through its broker, Peterhouse Corporate Finance, the Company has
raised GBP110,000 (before expenses) by way of a subscription for
14,666,667 new ordinary shares of 0.1 pence each in the share
capital of the Company (the "Subscription Shares") at a price of
0.75 pence per share (the "Subscription Price") from professional
and institutional investors.
The net proceeds will be used to provide working capital and to
increase cash reserves of the Company as the Board seeks to
accelerate the implementation of Mercer's investment strategy.
The Subscription Shares will rank pari passu with the existing
ordinary shares of 0.1 pence each in the Company (the "Ordinary
Shares"). Application has been made for admission of the
Subscription Shares to trading on AIM and it is expected that
dealings in the Subscription Shares will commence on or around 18
November 2013.
Following the issue of the Subscription Shares, there will be
79,145,803 Ordinary Shares in issue. This number 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.
Enquiries:
Trevor Wells Mercer Resources plc 020 3301 9331
Nominated Adviser Cairn Financial Advisers
James Caithie/Avi Robinson LLP 020 7148 7900
Broker Peterhouse Corporate Finance
Jon Levinson/Lucy Williams Limited 020 7469 0936
This information is provided by RNS
The company news service from the London Stock Exchange
END
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