Last checked at 19 Dec 2016 07:00
19 December 2016
Ferrum Crescent Limited
("Ferrum Crescent", the "Company" or the "Group")(ASX, AIM, JSE: FCR)
Exercise of Options and Issue of Equity
Update re: Expected issue and Admission Date for Placement Shares and Option Shares to trading on AIM
Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that it is issuing 3,205,088 new ordinary shares of no par value each in the capital of the Company ("Ordinary Shares") as a result of the exercise of, in aggregate, 3,205,088 options exercisable at a price of 0.165 pence per share (the "Option Shares"). Such options were granted in connection with the Company's placing and subscription announced on 27 April 2016.
Application will be made for quotation of the Option Shares on the Australian Securities Exchange and the JSE Limited, and to the London Stock Exchange plc for admission to trading on AIM ("Admission"). The Option Shares will be fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.
Further to the Company's announcement of 12 December 2016 regarding the placing of 275,218,025 new ordinary shares of no par value each in the capital of the Company (the "Placing Shares") at a price of 0.2 pence per new ordinary share to raise approximately £550,000 gross, application will also be made for quotation of the Placing Shares on the Australian Securities Exchange and the JSE Limited, and to the London Stock Exchange plc for Admission.
Accordingly, it is now expected that issue and Admission of both the Placing Shares and the Option Shares will become effective, and that dealings in both the Placing Shares and the Option Shares will commence on AIM, at 8.00 a.m. on 22 December 2016.
Following issue and Admission of the Placing Shares and Option Shares, the total issued ordinary share capital of the Company will comprise 2,147,825,266 Ordinary Shares.
For further information on the Company, please visit www.ferrumcrescent.com or contact:
Ferrum Crescent Limited
Justin Tooth, Executive Chairman
Grant Button, Director and Company Secretary
T: +61 8 9474 2995
UK enquiries:
Laurence Read (UK representative)
T: +44 7557 672 432
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
T: +44 (0)20 7409 3494
Beaufort Securities Limited (Broker)
Elliot Hance
T: +44 (0)20 7382 8300
Bravura Capital (Pty) Ltd (JSE Sponsor)
Doné HattinghT (direct): +27 11 459 5037
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.