Stratmin Global Resources PLC Completion of £625,000 Placing (4061S)
07 Juli 2015 - 2:22PM
UK Regulatory
TIDMSTGR
RNS Number : 4061S
Stratmin Global Resources PLC
07 July 2015
7 July 2015
StratMin Global Resources Plc
("StratMin" or the "Company")
Completion of GBP625,000 Placing
StratMin Global Resources Plc (AIM: STGR), London's only listed
graphite production and exploration company, announces that it has
raised gross proceeds of GBP625,000 through a placing of 15,625,000
new ordinary shares of 4 pence each (the "Ordinary Shares") at a
placing price of 4 pence per Ordinary Share (the "Placing Shares")
(the "Placing").
The Placing follows the signing of a binding strategic
partnership and joint venture agreement with Tirupati Carbons &
Chemicals Group (P) Ltd. ("Tirupati"), the private Indian-based
graphite mining and processing group, with operations in India and
Madagascar (as announced on 18 June 2015).
The net proceeds of the Placing will be used to further bankable
feasibility studies at the Company's new Mahefedok project and for
general working capital purposes.
Issue of Warrants
In connection with the Placing, the Company will issue 406,250
broker warrants at an exercise price of 4 pence, which are
exercisable at any time up to and including 12 July 2018.
Admission to Trading and Total Voting Rights
Application has been made to the London Stock Exchange for
admission of the Placing Shares to trading on AIM ("Admission") and
it is expected that Admission will take place and that trading will
commence on AIM on or around 13 July 2015. Following Admission, the
Company will have 148,867,004 Ordinary Shares in issue with each
share carrying the right to one vote.
The Company has no Ordinary Shares held in treasury. The total
number of voting rights in the Company following Admission will
therefore be 148,867,004. This figure may be used by shareholders
in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest
in, or a change in their interest in, the share capital of the
Company under the FCA's Disclosure and Transparency Rules.
Concert Party
The shareholdings of the individuals set out below, who were
deemed by the Panel on Takeovers and Mergers at the time of the
Company's reverse takeover of Graphmada Equity Pte Ltd in January
2013 to be acting in concert (the "Concert Party"), before and
after the abovementioned Placing are set out below:
Name Number % of Ordinary Number Total % of Ordinary
of Ordinary Shares of Placing shareholding Shares
Shares outstanding Shares following outstanding
held prior subscribed the Placing following
to the for in the issue
issue the Placing of the
of the Placing
Placing Shares
Shares
--------------- ------------- -------------- ------------- -------------- --------------
Caralapati
Raghirah
Premraj(1) 16,813,319 12.62% - 16,813,319 11.29%
--------------- ------------- -------------- ------------- -------------- --------------
Marthinus
(Marius)
Johannes
Hendrik
Pienaar 12,150,000 9.12% - 12,150,000 8.16%
--------------- ------------- -------------- ------------- -------------- --------------
Mrs Kesava
Padmavathi 8,100,000 6.08% - 8,100,000 5.44%
--------------- ------------- -------------- ------------- -------------- --------------
Mrs Caryl
Melissa
Jane Pienaar 6,500,000 4.88% - 6,500,000 4.37%
--------------- ------------- -------------- ------------- -------------- --------------
Ghanshyam
Champaklal 5,025,000 3.77% - 5,025,000 3.38%
--------------- ------------- -------------- ------------- -------------- --------------
Srirekam
Kesava
Purushotham 2,700,000 2.03% - 2,700,000 1.81%
--------------- ------------- -------------- ------------- -------------- --------------
Jeffrey
Royce Marvin 916,667 0.69% - 916,667 0.62%
--------------- ------------- -------------- ------------- -------------- --------------
Total 52,204,986 39.18% - 52,204,986 35.07%
--------------- ------------- -------------- ------------- -------------- --------------
(1) Includes the shares issued to Non-Executive Director, David
Premraj, on 31 March 2014
Following completion of the Placing (in which no individual
member of the Concert Party has participated), the Concert Party
will hold interests in Ordinary Shares carrying, in aggregate,
approximately 35.07 per cent. of the voting rights of the
Company.
Brett Boynton, CEO, commented:
"We are very excited with the progress being made at our new
project area. This placement will enable us to accelerate the
bankable feasibility studies for a new mine and plant with a target
12,000 tpa flake graphite output. We have a team active on the
ground drawing expertise from our in-house geology team, our
in-country exploration consultants Vato Consulting and the highly
experienced technical team from our collaboration partners,
Tirupati. Leveraging all the knowledge from our existing deposit at
Loharano, they are rapidly progressing Mahefedok to development
stage."
For further information please visit www.stratminglobal.com or
contact:
StratMin Global Resources Plc +44 (0) 20
Brett Boynton, CEO 3691 6160
Strand Hanson (Nominated & Financial
Adviser)
Rory Murphy / James Spinney / +44 (0) 20
Ritchie Balmer 7409 3494
Beaufort Securities (Broker) +44 (0) 20
Jon Bellis 7382 8300
Blytheweigh (Financial PR) +44 (0) 20
Halimah Hussain / Megan Ray 7138 3204
This information is provided by RNS
The company news service from the London Stock Exchange
END
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