Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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After RNS this week, the two investment don’t exactly have anyone salivating at the thought of there potential
Another two major shareholdings updates
Ashworth Global Investments 3.66%
Global Investment Strategy UK Ltd 3.97%
MarketCap looks tiny compared to potential doesnt it. Any thoughts what can be expected here?
At close.
Major Shareholder
7.95% James Caird Investments Ltd
https://www.investegate.co.uk/paternoster-res---prs-/rns/holding-s--in-company/201807091214150346U/
And a new market cap, consolidation next as far too many shares out there.
Its PRS so the “on or around the 4th July” is obviously being adhered too and it’ll be “around” rather than “on”
6.2Billion shares in issue as of today? GLA
6.2Billion shares in issue as of today? GLA
Nice chunky 30 million buy
Hi Alex, Yup in danger of being a long term holder! Still got more in PIRI and hoping that will do something spectacular. I’m assuming PRS will be more pedestrian but much safer. Need something like that. It’s my pension I’m investing after all!
Long time no speak
I recall you've been holding PRS for sometime
Joined you last week
Interested to see what have they manage to raise £4.5M for
Huge amount for the company with under £2M NAV and under £2M Mcap
You’re investing several million quid of other people’s money? For free?!
cant believe the director gets paid £86k for investing in small cap companies, he is doing what we are all doing.
Need to change the business model,
Took 10 #PRS
There must be something juicy coming up
Pre money Mcap £1.6M and they raised £4.5M
Miton took £800k and they are Cornerstone investor unless someone else pops in
Reminds me #RBD when the sp improved over 450% within two months from 0.26-1.18p last autumn
Yep agree don't need nick and Amanda, one of them need to go. £4.5m invested in ARCM can bring return of 15x-30x....arcm stand to be one of the only aim junior miner with a limited cobalt production plant in next six months....
Yeah, good call. It’s all coming together, hopefully there is a nice northwards move in the price once they start investing. Still want to see either Nick or Amanda step down or have there pay packets reduced in there now lesser positions
Nearly 6.3 billion total shares in issue....let's see if the £4.5m raised would bring value. I think a consolidation would come next...
would be nice to know the details , think our investment cost a few bob , and it looks like our loss ( or somebody,s gain ) hasn't been evidenced.
Mmm, looks that way
Have we sold our holding ?
At the General Meeting of the Company on 8 June 2018, shareholders approved the necessary authorities to raise additional funds, should demand from investors arise, to invest in opportunities that may become available to the Company, given its arrangement with RiverFort Global Capital Limited ("RiverFort"), the specialist arranger of funding solutions, primarily to the natural resources sector. Furthermore, it was anticipated that if any such new funds were raised this would be done at or around the prevailing market share price and that an appropriate opportunity would also be made available to existing shareholders to enable them to subscribe for new shares in the Company on similar terms.
Paternoster is therefore very pleased to announce that the Company has now placed (subject to admission to trading on AIM) 4,500,000,000 new ordinary shares of 0.1 pence each (the "Placing Shares") at a price of 0.1 pence per share with institutional and other investors to raise gross proceeds of £4,500,000 (the"Placing"). The fundraising was oversubscribed and allocations were therefore scaled back.
Going forward, the Company will now be working closely with RiverFort, to invest the funds raised in attractive opportunities in the natural resources sector.
As part of the Placing, up to £180,000 has been allocated to the Teathers App, which is owned by Teathers Financial plc. This app will enable qualified retail investors, in particular, qualifying existing Paternoster shareholders to participate in the Placing on the same terms as other investors directly involved in the Placing. In the event that there is an oversubscription through the Teathers App, preference will be given to applications from existing shareholders in Paternoster.
The Teathers App is a mobile application designed to give qualified private investors access to placements and initial public offerings ("IPOs"), predominantly on the London Stock Exchange AIM market. To become an onboarded user of the Teathers App, visit the App Store or Google Play, download the App for free and complete the account application process. Only onboarded users of the Teathers App may participate in deals offered through it. Shard Capital Partners LLP ("Shard Capital") is the broker supporting the Teathers App and provides the necessary regulatory environment, including compliance oversight and client identification. Shard Capital is regulated by the FCA.
Nicholas Lee, Chairman said:
"I am delighted that our strategy to work with RiverFort has been so well supported by both new and existing investors and we look forward to working closely with RiverFort going forward to deploy the funds raised. This is a very significant development for Paternoster and provides a very clear strategy for the Company for the future."
Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around
4,500,000,000 new shares.
Wowser.
Thanks.