(Alliance News) - Alexander Mining PLC on Monday said it is mulling a share placing, at a discount, following a capital reorganisation.
The share placing would be carried out at 0.045 pence a share, with Alexander not saying how much it would like to raise. Shares were down 11% Monday at 0.040p.
Alexander Mining in June announced the capital reorganisation after its share price fell beneath the 0.1p nominal value. This meant Alexander Mining could no longer issue any new shares for cash.
Each Alexander Mining share with a nominal value of 0.1p was divided into one share with a nominal value of 0.001p each as well as 99 new deferred shares of 0.001p each.
