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23 May 2025 14:32
23 May 2025
Chesterfield Resources / EPIC: CHF / Market: LSE / Sector: Mining
Chesterfield Resources plc("Chesterfield " or the "Company")
Placing and subscription.
Chesterfield Resources plc ('Chesterfield' or the 'Company') is pleased to announce it has raised £130,000 by way of a placing and subscription of 26,000,000 new Ordinary Shares of 0.1 pence each at a price of 0.5 pence per share. (the "Placing Shares").
The use of proceeds from the placing will primarily be used for evaluation and execution of new opportunities as well as working capital.
Peterhouse Capital Limited acted as sole broker for the placing.
Application for Admission
The new ordinary shares to be issued pursuant to the Placing will represent 20.0 per cent of the issued ordinary share capital of the Company prior to the Placing. The Company will apply for admission of the Placing Shares to listing on the standard listing segment of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange .The Placing Shares will rank pari passu in all respects with the existing ordinary shares of 0.1p in the capital of the Company. The Placing Shares are expected to be admitted for trading on or around 2 June 2025.
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the FCA ("DTRs"), the Company confirms that, following admission, its issued share capital will comprise 156,328,311 Ordinary Shares, each of which carries the right to vote, with no Ordinary Shares held in treasury. 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 to their interest in, the Company under the DTRs
Kashif Afzal, Executive Chairman of Chesterfield commented:
"Chesterfield's first capital raise in over three years will help us to proceed with our plan to develop new and exciting opportunities for the Company. With our extremely low cost base the additional funds, together with the future sale of our shares in Sterling Metals (TSXV:SAG), are to be directed primarily at evaluation and execution of prospects. We are hopeful that we can make positive announcements in this regard in the months ahead."
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Enquiries
Chesterfield Resources plc kashif@chesterfieldplc.com
Kashif Afzal, Executive Chairman
Peterhouse Capital Limited +44 (0)20 7469 0930
Charles Goodfellow
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