Trading
Symbol
AIM:
AYM
25 September 2024
This
announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Anglesey
Mining plc
(“Anglesey”
or “the Company”)
Fundraise
to raise £220,000
Anglesey
Mining plc (AIM:AYM), the UK minerals development company, is
pleased to announce that as follow up to the placing and
subscription announced on 28 June
2024, the Company has raised £220,000 (before expenses) by
way of a direct subscription of 22,000,000 ordinary shares at a
price of 1pence per share (the
“Subscription
Shares”).
Fundraising
Highlights
-
Subscription
to raise approximately £220,000 (before expenses).
-
Issue
Price of 1
pence per share
Reasons
for the Fundraising
In line
with the objectives outlined in the fundraising announced in
June 2024, the Company has undertaken
this Fundraise and its previous fundraise to progress its corporate
and operational strategy and the net proceeds will therefore be
applied towards:
-
Developmental
work at Parys Mountain
-
Advancing
development options at Grängesberg Iron Ore Mine
-
Debt
repayment; and
-
General
working capital purposes
The
Company is advancing a number of initiatives with a view to
supporting its cash position, however if these are not successful
the Company will need to raise further funds towards the end of the
calendar year to continue to progress its activities.
The
Subscription is conditional only on Admission.
Admission
Application
has been made to the London Stock Exchange for admission of the
Subscription Shares to trading on AIM (“Admission”). It is expected
that Admission will become effective and dealings in the
Subscription Shares will commence at 8.00
a.m. on or around 30 September
2024.
The
Subscription Shares will be issued fully paid and will
rank pari
passu in
all respects with the Company's existing Ordinary
Shares.
Following
Admission, the total number of Ordinary Shares in the capital of
the Company in issue will be 483,593,017 with voting rights. This
figure may be used by shareholders 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
Company's share capital pursuant to (i) the Company's Articles,
(ii) the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules and/or (iii) the AIM Rules for Companies issued
by the London Stock Exchange plc as amended from time to
time.
For
further information, please contact:
Anglesey
Mining plc
Rob Marsden, Chief Executive Officer Tel:
+44 (0)7531 475111
Andrew King, Interim-Chairman Tel:
+44 (0)7825 963700
Davy
Nominated
Adviser & Joint Corporate Broker
Brian Garrahy / Daragh O’Reilly – Tel: +353 1 679
6363
Zeus
Capital
Joint
Corporate Broker
Harry Ansell/Katy Mitchell –
Tel: +44 (0) 203 829 5000