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28 Mar 2013 07:00
28 March 2013
Alexander Mining plc
("Alexander" or the "Company")
Placing to raise £751,000
The Company is pleased to announce that it has raised £751,000 (before expenses and commission) (the "Placing") through the issue of 18,775,000 new ordinary shares of 0.1p each (the "Placing Shares") at a price of 4p per share to institutional and other investors, and to certain directors and officers of the Company. The proceeds of the Placing will be used to fund working capital.
Martin Rosser, Chief Executive Officer, said "the Company welcomes its significant and strategically important new shareholders, including those from Turkey as well as experienced technology investors in Germany and Switzerland. These complement the Company's proprietary processing technology commercialisation plans."
Pursuant to the Placing, Placing Shares will be issued to Martin Rosser, Chief Executive Officer of the Company, Emil Morfett, Non-Executive Director of the Company and Terence Cross, the Chief Finance Officer (together, the "Directors and Officers"). The individual participations by each of the Directors and Officers and their resultant shareholders are set out below:
Director/Officer | Shares to be issued pursuant to the Placing | Resultant total shareholding | Resultant total percentage shareholding |
Martin Rosser | 925,000 | 925,000 | 0.57 |
Emil Morfett | 250,000 | 450,000 | 0.28 |
Terence Cross | 250,000 | 350,000 | 0.22 |
The issue of shares to the Directors and Officers as described above is deemed a related party transaction under the AIM Rules for Companies. The independent directors (being the directors of the Company with the exception of Martin Rosser and Emil Morfett) having consulted with Northland Capital Partners Limited (in its capacity as the Company's Nominated Adviser) consider that the terms of the issue of shares to the Directors pursuant to the Subscription are fair and reasonable insofar as the shareholders of the Company are concerned
Application has been made to the London Stock Exchange for admission to trading on AIM of the Ordinary Shares and dealings are expected to commence on 2 April 2013. Following admission of the New Ordinary Shares, the Company will have a total of 161,845,051 ordinary shares in issue with each share carrying the right to one vote.
Enquiries:
Martin Rosser Chief Executive Officer Mobile: +44 (0) 7770 865 341 | Matt Sutcliffe Executive Chairman Mobile: +44 (0) 7887 930 758 |
Alexander Mining plc 1st Floor 35 Piccadilly London W1J 0DW Tel: +44 (0) 20 7292 1300 Fax: +44 (0) 20 7292 1313 Email: mail@alexandermining.com Website: www.alexandermining.com | |
Nominated Adviser and Broker Northland Capital Partners Limited Louis Castro / Lauren Kettle +44 (0) 20 7796 8800 | |
Public / Media Relations Britton Financial PR Tim Blackstone +44 (0) 20 7242 9786 |
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