Last checked at 13 Feb 2009 14:26
13 February 2009
Tertiary Minerals plc
('TYM' or 'the Company')
Placing
Tertiary Minerals plc announces that it has raised £150,000 by way of a private placing of 12,000,000 new ordinary shares of 1 pence each at 1.25 pence per share.
The placing is conditional, inter alia, on the new ordinary shares being admitted to trading on AIM, for which application is being made. Admission of the new ordinary shares to trading is expected to occur on or around 19 February 2009. The placing shares will rank pari passu with the existing ordinary shares in issue and will increase the number of ordinary shares in issue to 76,113,816.
Mr. Bruce Rowan has subscribed for 8,000,000 new ordinary shares as a part of the placing. Following the placing, he will have an interest in 10,954,499 shares representing 14.39% of the enlarged issued share capital.
Mr. Patrick Cheetham, an executive director and Chairman of the Company has subscribed for 4,000,000 new ordinary shares as a part of the placing. Following the placing, he will have an interest in 10,297,330 shares representing 13.53% of the enlarged issued share capital.
For further information:
Patrick Cheetham, Sunrise Diamonds plc. Tel: + 44 (0) 1625 505947
Jonathan Wright, Seymour Pierce Limited Tel: + 44 (0) 207 107 8000