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Update on Reverse Takeover and Cancellation

2 Aug 2017 09:30

RNS Number : 8693M
Stratmin Global Resources PLC
02 August 2017
 

2 August 2017

 

 

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

StratMin Global Resources Plc

("StratMin" or the "Company")

 

Update on Reverse Takeover and Cancellation of AIM Listing

 

Further to the Company's announcement of 5 July 2017, StratMin announces that it has not received the £5 million subscription for 206,700,000 ordinary shares of 0.01 pence each in the capital of the Company ("Subscription Shares"), which it had conditionally secured from Axel Management Group Pty Ltd ("Axel"), an Australian incorporated investment company. This has been due to delays in funds being transferred from Axel's Hong Kong sources, which the Company has been advised relate to exchange control approvals. Axel is currently unable to confirm specific timing for this process to be completed. The Company is also currently in discussions with a number of other potential investors to raise the required funds to complete the acquisition of Signature Gold Limited ("Signature Gold").

 

The Company was suspended on 2 February 2017 pending a reverse takeover of Signature Gold. From that date the Company had 6 months to publish an AIM admission document ("Admission Document") and gain approval of shareholders of the Company at a general meeting. As this has not been achieved within the 6 months since it was suspended from trading on AIM, admission of the Company's Ordinary Shares to trading on AIM will be cancelled, pursuant to AIM Rule 41, with effect from 7.00 am on 3 August 2017 ("Cancellation").

 

The Company intends to complete the acquisition of Signature Gold following cancellation and seek admission in due course.

 

Further announcements will be made by the Company as necessary and will also be available on the Company's website.

 

For further information please visit www.stratminglobal.com or contact:

 

StratMin Global Resources Plc

Brett Boynton, CEO

+44 (0) 20 3691 6160

Allenby Capital Limited (Nominated Adviser & Broker)

John Depasquale / Nick Harriss / Richard Short

+44 (0) 20 3328 5656

VSA Capital Limited (Financial Adviser & Broker)

Andrew Raca

+44 (0) 20 3005 5000

Yellow Jersey PR

Felicity Winkles

Joe Burgess

+44 (0) 776 932 5254

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
UPDOKBDBFBKKNFK
Date   Source Headline
2nd Aug 20179:30 amRNSUpdate on Reverse Takeover and Cancellation
5th Jul 201710:30 amRNSLoan to Signature Gold
5th Jul 20177:30 amRNSUpdate on Reverse Takeover
30th Jun 20179:45 amRNSPosting of Annual Report and Accounts
21st Jun 201712:30 pmRNSUpdate re Scheme of Arrangement and Option Payment
26th May 20179:00 amRNSFiling of Scheme of Arrangement & Director Change
2nd May 20177:00 amRNSFinal Results
21st Mar 20179:34 amRNSUpdate on Signature Gold & Bass Funds Received
7th Mar 20179:32 amRNSUpdate re Bass shareholding and proposed RTO
20th Feb 20177:30 amRNSDirectorate Change
2nd Feb 20177:37 amRNSSuspension - Stratmin Global Resources plc
2nd Feb 20177:37 amRNSProposed Acquisition & Suspension from Trading
22nd Dec 201610:20 amRNSReceipt of first payment by Bass Metals Ltd
15th Dec 20167:00 amRNSEarly settlement of outstanding payments from Bass
30th Nov 201611:06 amRNSReverse Takeover and Joint Venture Update
31st Oct 20165:00 pmRNSTotal Voting Rights
17th Oct 20161:00 pmRNSJoint Venture: Environmental Permit Received
5th Oct 20168:58 amRNSJV Funding Initiation and Vatomaina Project Update
3rd Oct 20167:05 amRNSIssue of Equity
30th Sep 20167:00 amRNSHalf-year Report
28th Sep 20167:00 amRNSUSD1.5m loan secured against Bass Metals holding
20th Sep 20167:03 amRNSAppointment of Financial Adviser
19th Sep 20167:00 amRNSDirectorate Changes and Change of Adviser
14th Sep 20168:45 amRNSBass Transaction Completion
2nd Sep 201612:05 pmRNSBass issues 75 Million Shares to StratMin
30th Aug 20169:25 amRNSBass Transaction Settlement
22nd Aug 201610:31 amRNSBass Transaction Update
19th Aug 201610:00 amRNSBass Transaction Update
29th Jul 20163:00 pmRNSResult of AGM and GM
7th Jul 20167:00 amRNSProposed disposal & Notice of GM
30th Jun 20167:01 amRNSNotice of AGM
30th Jun 20167:00 amRNSFinal Results
26th May 20167:00 amRNSBass Transaction Update
1st Apr 20167:00 amRNSProposed disposal of operating subsidiary
4th Mar 201612:21 pmRNS£300,000 private placement
17th Feb 20163:15 pmRNSOperational Update
16th Feb 201612:15 pmRNSBoard Changes
8th Feb 20167:00 amRNSRelated Party Loan Facility
6th Jan 201610:20 amRNSResult of General Meeting
4th Jan 20167:32 amRNSCompletion of £500,000 first tranche funding
24th Dec 201510:39 amRNSBass Metals Ltd Investment Update
18th Dec 20153:45 pmRNSPosting of Circular
7th Dec 20157:00 amRNSOperational Update
4th Dec 20158:03 amRNSBass Transaction Update
23rd Nov 20157:00 amRNSExploration Program Update
18th Nov 20157:01 amRNSBass transaction update
21st Oct 201512:01 pmRNSBass transaction update
9th Oct 201511:19 amRNSSuccessful First Month of 24 Hour Production
1st Oct 201510:54 amRNSBass Transaction Update - Replacement
30th Sep 20157:00 amRNSOption Restructuring & Grant of Warrants & Options

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