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Schedule 1 - Red Leopard Holdings plc

6 Sep 2013 15:45

RNS Number : 4542N
AIM
06 September 2013
 



ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Red Leopard Holdings Plc (the "Company")

 

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

233-237 Old Marylebone Road

London

NW1 5QT

 

COUNTRY OF INCORPORATION:

England & Wales

 

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.redleopardholdings.com

 

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

On 23 July 2013 the Company adopted an investing policy focussing on the natural resources sector (both exploration and production), with a particular emphasis on precious mining assets and interests.

 

In line with its new investing policy, the Company is proposing to acquire Red Leopard Mining Inc ("RLM"). RLM was established in 2013 as a special purpose vehicle into which 205 unencumbered claims (the "Claims") were transferred by Polaris Resources Inc, a wholly owned subsidiary of Quest Minerals Corporation (the "Vendor").

 

The Claims are located in the vicinity of Shoshone County, Idaho, USA, commonly referred to as "Silver Valley". This area is well known as the premier silver district in North America, with total production to date of around 1.2 billion ounces. Most of the Claims lie within the Panhandle National Forest and upon Bureau of Land Management land.

 

The Claims cover a total land area of approximately 1,435 hectares the equivalent to 3,546 acres. The Coeur d'Alene mining district is approximately 77,700 hectares or 192,000 acres and has produced approximately 38 billion grams of silver and substantial lead, zinc, copper and gold. A full list of the Claims can be found in the CPR included in the Admission Document.

 

The Claims are situated adjacent to two former major producing mines, the Hercules and the Interstate Mines, each now owned by Hecla Mining Company Inc. ("Hecla"), one of the largest silver producers in the US. The Hercules mine discovered in the early 1900's became a primary mine for Day Mines Inc. ("Day Mines"). Day Mines was merged into Hecla Mining Company in 1981. The Interstate Mine was the initial primary mine for Callahan Mining Corporation. Callahan Mining was acquired by Coeur d'Alene Mines in 1991.

 

The Company proposes to use funds raised on Admission to carry out near term exploration with the intention that this would lead to the establishment of a small scale mining operation to provide cash flow and grade and metallurgical information, together with a systematic exploration program.

 

Admission is being sought as a result of a reverse take-over under rule 14 and is subject to shareholder approval at a general meeting to be held on 24 September 2013.

 

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

224,954,062 ordinary shares of 0.1p

 

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

£350,000 to be raised at an issue price of 0.5p per ordinary share

Market Capitalisation at the placing price: £1.13m

 

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

42.74

 

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

N/A

 

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

John Joseph May - Chairman

Simon Harvey Michaels - Non Executive Director

 

Proposed Directors

 

Stuart James Adam - Finance Director

Howard Mattes Crosby - Non Executive Director

 

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Before Admission After Admission

John Joseph May 19.06% 11.91%

S2 Solutions Limited* 9.23% 7.87%

Stuart James Adam 3.89% 3.38%

Quest Minerals Corporation** Nil 14.82%

Geoffrey Dart 6.09% 2.5%

Clive Russell 4.83% 1.99%

Noram Capital Holdings Limited 3.44% 1.41%

Lynchwood Nominees Limited 3.28% 1.35%

Beaufort Securities Limited Nil 11.11%

Alexander David Securities Limited Nil 8.9%

SVS Securities Limited Nil 3.55%

 

*S2 Solutions Limited is 70% owned by Simon Michaels, a director of the Company.

**Quest Minerals Corporation is 50% owned by Howard Crosby, a proposed director of the Company.

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

 

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 31 December

(ii) 31 December 2012

(iii) 30 September 2013, 30 June 2014, 30 September 2014

 

EXPECTED ADMISSION DATE:

25 September 2013

 

NAME AND ADDRESS OF NOMINATED ADVISER:

Northland Capital Partners Limited

60 Gresham Street

London

EC2V 7BB

 

NAME AND ADDRESS OF BROKER:

Northland Capital Partners Limited

60 Gresham Street

London

EC2V 7BB

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

The admission document, which contains full details about the applicant and the admission of its securities, is available to download from the Company's website, www.redleopardholdings.com.

 

DATE OF NOTIFICATION:

6 September 2013

 

NEW/ UPDATE:

NEW

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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