Issued shares include exercise of options by some company insiders
By Susanna Moon
Chicago, Jan. 10 - Anglesey Mining plc said Gartmore Investment and another institution have agreed to subscribe £2.8 million of common shares in a private placement.
Anglesey said it will issue 5 million shares at 56p per share, representing about 3.2% of the company's enlarged issued share capital.
The price represents a 0.93% discount to the closing price of company's shares on Jan. 7.
The shares to be issued comprise 2.5 million new shares to be placed by the company for cash and 2.5 million new shares to be placed on behalf of directors of the company under the exercise of share options, in each case at a price of 56p per share.
Proceeds will be used for future working capital.
The mining company is based in Anglesey, Wales, and works on the development of the Labrador iron project in eastern Canada and the Parys Mountain project in North Wales.
| Issuer: | Anglesey Mining plc
|
| Issue: | Common shares
|
| Amount: | £2.8 million
|
| Shares: | 5 million
|
| Price: | 56p
|
| Warrants: | No
|
| Investors: | Gartmore Investment, one additional investor
|
| Pricing date: | Jan. 10
|
| Stock symbol: | London: AYM
|
| Stock price: | 56.52p at close Jan. 7
|
| Market capitalization: | £88.83 million
|
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