RNS19 Nov 2021 07:03
Result of Upsized Fundraise
Further to the announcements on 18 November 2021 in relation to the Fundraise,
Greatland Gold plc (AIM:GGP), a mining development and exploration company
with a focus on precious and base metals, is pleased to announce the
successful completion of the Fundraise announced yesterday (the "Fundraise
Announcement").
Following strong demand in the bookbuild, the total gross proceeds from the
Fundraise has increased from the minimum amount of approximately US$10 million
to approximately US$16 million (£11.9 million). A total of 82,000,000 Placing
Shares, Subscription Shares and Retail Shares have been placed at an Issue
Price of 14.5p per New Ordinary Share. The Issue Price represents a discount
of approximately 10.5 per cent to the closing mid-market share price of the
Company's ordinary shares on 17 November 2021.
Berenberg and Canaccord acted as Joint Bookrunners and SI Capital acted as
Lead Manager in connection with the Placing.
Application will be made for the New Ordinary Shares to be admitted to trading
on the AIM market of the London Stock Exchange plc. It is expected that
Admission will become effective at commencement of trading on 24 November 2021
and settlement is expected to take place on the same date on a T+3 basis.
The Fundraise is conditional upon, inter alia, Admission becoming effective
and the Placing Agreement not being terminated in accordance with its terms.
Total voting rights
Following Admission of the Placing Shares, Subscription Shares and Retail
Offer Shares the total number of ordinary shares of the Company in issue will
be 4,046,547,171. The Company does not hold any ordinary shares in treasury.
Therefore the total number of voting rights in the Company will be
4,046,547,171 and 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 in their interest in, the share capital
of the Company under the FCA's Disclosure Guidance and Transparency Rules.
PDMR participation
The following directors and officers of the Company have agreed to participate
in the Subscription as follows:
Director/PDMR Number of existing ordinary shares Number of Subscription Shares to be subscribed for Number of ordinary shares held on Admission Percentage of enlarged share capital on Admission (%)
Shaun Day 0 375,000 375,000 0.009%
Christopher Toon 0 110,000 110,000 0.003%
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