13 Jun 2017 07:00
13 June 2017
Sirius Minerals Plc
Issue of shares pursuant to convertible bonds
Sirius Minerals Plc ("Sirius" or the "Company") announces that it has received conversion notices in respect of 58 convertible bonds issued by Sirius Minerals Finance Limited during the Company's stage 1 financing. The convertible bonds, due 2023, which were issued at US$200,000 each and raised US$400 million, were announced on 3 November 2016 (RNS number 2246O). As a result of these conversions the Company will allot and issue 37,711,310 new ordinary shares of £0.0025 each (the "Relevant Shares").
An application has been made for the Relevant Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the London Stock Exchange plc's main market for listed securities, and dealings are expected to commence at 8.00 am on 14 June 2017. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.
In accordance with the requirements of the FCA's Disclosure Guidance and Transparency Rules 5.6.1AR and 5.6.2G, the Company confirms that the enlarged share capital of the Company following Admission will be 4,379,078,760 Ordinary Shares in aggregate, each with equal voting rights. No shares are held in treasury. The above figure may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Sirius Minerals Plc under the FCA's Disclosure Guidance and Transparency Rules.
Notes on conversion
No. of bonds | Value (US$) | Shares issued | Total shares in issue | |
Previously converted | 272 | 54,400,000 | 176,853,045 | |
This announcement | 58 | 11,600,000 | 37,711,310 | |
Totals | 330 | 66,000,000 | 214,564,355 | 4,379,078,760 |
As a result of the conversions to date 16.50% of the convertible bonds issued as part of the Company's stage 1 financing have now been converted into ordinary shares. | ||||
For further information, please contact:
Sirius Minerals Plc Investor Relations Manager | Tristan Pottas Email: ir@siriusminerals.com | Tel: +44 845 524 0247 |
Media Enquiries Tavistock | Jos Simson, Mike Bartlett, Emily Fenton | Tel: +44 20 7920 3150 |
About Sirius Minerals Plc
Sirius Minerals Plc is the fertilizer development company focused on the construction and development of its North Yorkshire polyhalite project in the United Kingdom. It believes the Project represents the world's largest high-grade known deposit of polyhalite, a multi-nutrient form of potash containing potassium, sulphur, magnesium and calcium. Incorporated in 2003, Sirius Minerals Plc's shares are traded on the London Stock Exchange's Main Market. Further information on the Company can be found at: www.siriusminerals.com.