By Laura Lutz
Des Moines, April 25 - Ridge Mining plc completed a private placement of shares for about £15 million.
The company sold 12 million shares to institutional and other investors at £1.25 per share.
RBC Capital Markets was the lead agent.
Proceeds will be used for project development, future acquisitions, working capital and general corporate purposes.
Settlement of the placement depends on shareholder approval at an extraordinary general meeting on May 18.
London-based Ridge is a mining company focused on platinum group metal projects.
| Issuer: | Ridge Mining plc
|
| Issue: | Shares
|
| Amount: | £15 million
|
| Shares: | 12 million
|
| Price: | £1.25
|
| Warrants: | No
|
| Agent: | RBC Capital Markets
|
| Pricing date: | April 25
|
| Stock symbol: | London: RDG
|
| Stock price: | 137.5p at close April 25
|
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