Amara Mining PLC: Result of Open Offer and Result of General Meeting
LONDON, UNITED KINGDOM -- (Marketwired) -- 04/11/14 -- Amara Mining
PLC (AIM: AMA)
Amara Mining plc
("Amara" or the "Company")
RESULT OF OPEN OFFER AND RESULT OF GENERAL MEETING
On 21 March 2014, the Board of Amara, the AIM listed West African
focused gold mining company, announced details of the Placing to
raise GBP 18.2 million (US$30 million) through the issue of
107,058,823 New Ordinary Shares and the Open Offer to raise up to GBP
4.2 million (US$6.9 million) through the issue of up to 24,468,439
New Ordinary Shares, both at an Issue Price of 17.0 pence per share.
The Open Offer closed for acceptances at 11.00 a.m. on 10 April 2014.
The Company is pleased to announce that it has received valid
acceptances in respect of 1,705,050 Open Offer Shares from Qualifying
Shareholders, including applications under the Excess Application
Facility. This represents 7.0 per cent. of the Open Offer Shares
Amara is also pleased to announce that at its General Meeting held
earlier today, all of the resolutions as set out in the Circular
dated 25 March 2014 were duly passed.
The Company has therefore raised aggregate gross proceeds of
approximately GBP 18.5 million (US$30.5 million) through the Placing
and Open Offer.
Application will be made to AIM, a market operated by the London
Stock Exchange plc, for Admission of the 108,763,873 New Ordinary
Shares issued pursuant to the Placing and Open Offer. It is expected
that Admission of the New Ordinary Shares to trading on AIM will
become effective at 8.00 a.m. (London time) on 17 April 2014.
The New Ordinary Shares, when issued and fully paid, will rank pari
passu in all respects with the Existing Ordinary Shares and therefore
rank equally for all dividends or other distributions declared, made
or paid after the date of issue of the New Ordinary Shares.
The New Ordinary Shares (in uncertificated form) are expected to be
credited to CREST accounts on 17 April 2014 and definitive share
certificates for the New Ordinary Shares (in certificated form) are
expected to be despatched to shareholders by 24 April 2014.
To view the full announcement, please click on the following link
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