Golden Rock Global PLC - special purpose acquisition company - Raises GBP95,000 from placing of 3.8 million new shares by broker Clear Capital Markets Ltd at price of 2.5 pence each. The price is a 23% discount to the stock's market close on Tuesday, before the placing. Golden Rock also issues 5.4 million warrants, each allowing the purchase of one new share at the same price of 2.5p over the next three years. Of these, 3.8 million go to Clear Capital Markets and the rest to directors and advisors. On Wednesday, Golden Rock said it had shortlisted two acquisition targets and expects to move forward with one "in the near future". Either would constitute a reverse takeover.
"The placing provides the company with adequate working capital to support its operations while negotiations with acquisition targets continue," explains Chair Ross Andrews.
Current stock price: 2.79p
12-month change: down 26% since April 5 this year
By Tom Waite, Alliance News editor
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Golden Rock (GCG)