Issue of Equity

RNS Number : 1885I

Pathfinder Minerals Plc

26 August 2016

 

Embargoed: 0700hrs, 26 August 2016

Pathfinder Minerals Plc

("Pathfinder" or the "Company")

Issue of Equity

Pathfinder announces that it has received further demand from private investors to subscribe for an aggregate 2,402,402 ordinary shares of 0.1p each in the Company ("Ordinary Shares") at a price of 0.8325p per share (the "Subscription"). The proceeds of the Subscription, totalling £20,000, in addition to the proceeds received from the subscriptions announced earlier in August as well as in March 2016, will further aid the Company in pursuing the recovery of its mining licences.  

The Company has applied for the admission of the Subscription shares to trading on AIM which is expected to take place on or around 1 September 2016 ("Admission"). Following Admission, the Company's issued share capital will consist of 142,237,061 Ordinary Shares with no Ordinary Shares held in treasury. Therefore, the above figure of 142,237,061 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Pathfinder under the FCA's Disclosure and Transparency Rules.

Enquiries:                                                                                                        

Pathfinder Minerals Plc

Nick Trew, Chief Executive

Tel. [phone]

WH Ireland Limited (Nomad and Broker)

Paul Shackleton or James Bavister

Tel. [phone]

Vigo Communications (Public Relations)

Ben Simons or Ali Roper

Tel. [phone]

Email. [e-mail]

Notes to Editors:

Pathfinder Minerals Plc is incorporated in England & Wales and is admitted to trading on the AIM market of the London Stock Exchange.

CMdN, a subsidiary of Pathfinder, was issued mining concession licences 760C and 4623C on 13 September 2004 and 13 July 2011 respectively, each for a period of twenty-five years. Taken together, these mining concessions cover approximately 32,000 hectares of land on the Indian Ocean coast of the Zambezia province of Mozambique, known to contain the heavy minerals, ilmenite, rutile and zircon.

As announced on 3 February 2012, ownership of these licences is being disputed.

 

END

 

 

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