29 Aug 2014 16:08
29 August 2014
Regency Mines Plc
("Regency" or the "Company")
Result of General Meeting and Placement of Shares
Regency Mines plc, a natural resources exploration and investment company with interests in oil in the United Kingdom, and nickel and other minerals in Australia, Papua New Guinea and Sudan, is pleased to announce that at the General Meeting held earlier today the resolution was duly passed.
Placing of Shares
Further to Company's placement of shares announcement of 12 August 2014, issuance of the second tranche of placing shares has now been authorised and approved at the General Meeting held today. In the second tranche, the Company has raised £157,700 by way of a placing of 56,321,437 new ordinary shares of 0.1 pence each ("Shares") in the Company with institutional and private investors, at a price of £0.0028 per Share (the "Placing").
The second tranche completes the total placing amount of £327,100 and will be applied to oil and gas exploration and for working capital purposes as previously announced.
Application has been made to the London Stock Exchange ("LSE") for 56,321,437 new Shares, which rank pari passu with the Company's existing Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 3 September 2014.
Additional Application
The Company has submitted an additional AIM application form (the "Update") to the LSE for 25,513,366 Shares with admission also expected to take place on 3 September 2014, in order to rectify certain historical inconsistences between the Company's records and those of the LSE regarding the number of Shares in issue. This application does not change the total number of Shares in issue as reflected in previous Company announcements.
Total Voting Rights
Following the Placing, the Company's total issued ordinary share capital will consist of 1,592,224,234 Shares with voting rights. No Shares are held in treasury.
The above figure of 1,592,224,234 Shares 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 FCA's Disclosure and Transparency Rules.
For further information contact:
Andrew Bell0207 747 9990 or 0776 647 4849 Chairman Regency Mines plc
Colin Aaronson / David Hignell 0207 383 5100 NOMAD Grant Thornton UK LLP
Jason Robertson 01293 517744 Broker Dowgate Capital Stockbrokers Ltd
Rupert Trefgarne 0203 128 8817 Media Relations MHP Communications