Company conducts deal through agents Ocean Equities, Seymour Pierce
By Devika Patel
Knoxville, Tenn., March 25 - Rambler Metals & Mining plc said it will take in £10 million in a private placement of shares through agents Ocean Equities Ltd. and Seymour Pierce Ltd.
The company will sell 27,777,778 ordinary shares at 36p per share. The price per share is a 9.73% discount to the March 24 closing share price of 39.88p.
Proceeds will provide the required working capital for completing the construction phase of the Ming Copper-Gold Mine Project and beginning production in the second half of 2011.
The copper and gold exploration and development company is based in Sutton, England.
| Issuer: | Rambler Metals & Mining plc
|
| Issue: | Ordinary shares
|
| Amount: | £10 million
|
| Shares: | 27,777,778
|
| Price: | 36p
|
| Warrants: | No
|
| Agents: | Ocean Equities Ltd. and Seymour Pierce Ltd.
|
| Pricing date: | March 25
|
| Stock symbol: | London: RMM
|
| Stock price: | 38.77p at close March 25
|
| Market capitalization: | £38.07 million
|
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