IN BRIEF: Pensana to raise GBP15 million to fund project development

Fri, 18th Jun 2021 20:34

Pensana PLC - London-based miner - Raises GBP15.0 million through issue of 12.5 million shares at price of 120 pence each.

Fundraise comprises placings conducted by SI Capital and WH Ireland Ltd, direct subscriptions and an investment by shareholder Fundo Soberano de Angola for 1.3 million shares.

Issue price at 6.3% discount to closing price on Thursday of 128.0 pence.

Proceeds will go towards allowing the company to process the early-stage development of the Saltend and Longonjo projects, particularly for construction, equipment, bulk materials and fabrication costs.

Current stock price: 118.50 pence, down 7.4%

Year-to-date change: up 7.7%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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