Completion of Placing

RNS Number : 6408B

Rare Earth Minerals PLC

06 March 2014

 



6 March 2014

Rare Earth Minerals plc

(the "Company")

Completion of Placing

Further to the announcement of 12 February Rare Earth Minerals plc (AIM: REM) announces that following the passing of the necessary resolutions at the general meeting of the Company held on 3 March, the Company has raised, conditional only upon admission, gross proceeds of £4.6 million by the issue of 1,150,000,000 ordinary shares of 0.01 pence in the capital of the Company ('Shares') (the 'Placing Shares') for cash at a price of 0.4 pence per Share.  Application has been made for the Placing Shares to be admitted to trading on AIM, which is expected to occur tomorrow, 7 March.  Following issue of the Placing Shares, the Company will have a total of  5,167,952,383 Shares in issue.

Total Voting Rights

The Company holds zero Shares in treasury.  Therefore the total number of Shares with voting rights is 5,167,952,383, which 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.

- ends -

For further information please contact:

Rare Earth Minerals plc	[phone]
David Lenigas
Kiran Morzaria
W.H. Ireland Limited (NOMAD & Joint Broker)	[phone]
James Joyce
Nick Field
Hume Capital Securities plc (Joint Broker)	[phone]
Guy Peters
Jon Beliss
Square1 Consulting	[phone]
David Bick
Mark Longson

 

END

 

 

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