Placing

RNS Number : 4782X

Equatorial Mining & Exploration PLC

19 November 2014

 



Equatorial Mining and Exploration PLC

(ISDX: EME)

(The "Company")

Placing

Equatorial Mining & Exploration Plc announces that it has raised £252,000 by way of a Placing of 84,000,000 new Ordinary Shares of £0.0001 each ("Ordinary Shares") in the capital of the Company at a price of 0.3p per share (the "Placing").

The proceeds will be used for working capital purposes and towards the continuing development of the Company's Nigerian exploration interests.

Admission and dealings

The Placing Shares, once issued, will rank pari passu in all respects with the Company's existing issued ordinary shares and will be equivalent to 3.08% of the enlarged issued share capital.

Once issued the Company will have 2,726,406,671 Ordinary Shares ("Enlarged Share Capital").

The Company has no ordinary shares held in treasury. The total number of voting rights in the Company will therefore be 2,726,406,671. Once the Placing Shares are issued this figure may therefore 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.

Enquiries:

Alfred Henry Corporate Finance Ltd                                                                        [phone]             

Jon Isaacs                        

Walbrook PR

Guy McDougall                                                                                                               [phone]

Nick Rome                                                                                                                        [phone]

         The Directors take responsibility for this announcement.

 

END

 

 

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