Last checked at 30 Mar 2011 11:20
Hambledon Mining Plc ("Hambledon" or the "Company")
Result of General Meeting, Result of Open Offer and Firm Placing, Total Voting Rights and Directors' Shareholdings
30 March 2011
Result of General Meeting
The Board of Hambledon is pleased to announce that at the General Meeting held at 10.30 a.m. today, the resolution, relating to Directors authorities' to allot shares, was duly passed.
Result of Open Offer and Firm Placing
The Company announces that a total of 51,608,923 Open Offer Shares, being the maximum available, have been validly applied for by Qualifying Shareholders under the Open Offer. This represents gross proceeds to the Company of the maximum figure of approximately £2.06 million under the Open Offer.
26,690,008 Open Offer Shares were validly applied for under Open Offer Entitlements. Due to excess applications under the Excess Application Facility, shareholders taking up their Excess Open Offer Entitlements have had to be scaled back and received 94.35 per cent. of their Excess Open Offer Entitlement. As a result, following the scale back, a further 24,918,915 Open Offer Shares were validly applied for under the Excess Application Facility.
The Open Offer and the Firm Placing will therefore result in the issue of a total of 175,720,950 Firm Placing Shares and 51,608,923 Open Offer Shares (representing, in aggregate, 30.58 per cent. of the Enlarged Share Capital), for gross proceeds of £9.09 million (net £8.60 million).
Application has been made to the London Stock Exchange for the Open Offer Shares and the Firm Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings will commence tomorrow morning, 31 March 2011, at 8.00 a.m.
Total Voting Rights
Immediately following Admission, Hambledon's issued share capital will consist of 743,419,106 ordinary shares of 0.1p each with voting rights. The rights attaching to the Open Offer Shares and Firm Placing Shares, including as to voting, are the same as those of the Existing Ordinary Shares. The Company does not hold any ordinary shares in treasury. Therefore, the total number of voting rights in the Company is 743,419,106 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 FSA's Disclosure and Transparency Rules.
Directors' Shareholdings
The Directors of Hambledon announce that their shareholdings in the Company, prior to Admission are and immediately following Admission will be as follows:
| Name | Number of Ordinary Shares prior to Admission | Percentage of Existing Ordinary Shares | Number of Ordinary Shares immediately following Admission | Percentage of Enlarged Share Capital | |||||
| George Eccles | 144,750 | 0.03 | 194,750 | 0.03 | |||||
| Tim Daffern | 50,000 | 0.01 | 150,000 | 0.02 | |||||
| Christopher Thomas | 3,347,366 | 0.65 | 3,722,366 | 0.50 | |||||
| Nicholas Bridgen† | 90,198,936 | 17.48 | 88,448,936 | 11.90 |
† The shareholding of Nicholas Bridgen prior to Admission includes 1,524,616 Ordinary Shares held by his wife. Following Admission Nicholas Bridgen's wife does not hold any Ordinary Shares.
All capitalised terms in this announcement have the same meaning as those in the Circular posted to Shareholders on 14 March 2011.
For further information please contact:
Hambledon MiningChief Executive Officer, Tim Daffern+44 (0)7585 505 455
Fairfax I.S. PLCNominated Adviser and Joint BrokerEwan Leggat/Katy Birkin+44 (0)207 598 5368
Ambrian Partners LimitedJoint BrokerSamantha Harrison/Jen Boorer+44 (0)207 634 4700
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