Draw Down of Funds and Issue of Equity

RNS Number : 8471E

Tertiary Minerals PLC

15 April 2014

 



Tertiary Minerals plc

www.tertiaryminerals.com

("the Company")

15 April 2014

Draw Down of Funds & Issue of Equity

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to announce that it has raised a further £178,800 under its £10 million Equity Finance Facility ("EFF") with Darwin Strategic Limited ("Darwin").

Under the terms of the EFF the Company has drawn down a net amount of £167,178 through the issue of 1,490,000 new ordinary shares of 1p each in the Company (the "New Ordinary Shares") to Darwin at a gross price of 12p per share, conditional on admission of the New Ordinary Shares to trading on AIM.

The draw down is the third undertaken by the Company since the EFF was announced on 18 June 2012.

Application will be made for the admission of the 1,490,000 New Ordinary Shares to trading on AIM ("Admission").  The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares. It is expected that Admission will occur and that dealings in the New Ordinary Shares will commence on 22 April 2014.

Following Admission, the Company's enlarged issued share capital will comprise 165,456,214 ordinary shares. The Company does not hold any shares in treasury. This figure of 165,456,214 ordinary shares 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.

ENQUIRIES:

Tertiary Minerals plc                                                           Tel:  [phone]

Patrick Cheetham, Executive Chairman

Richard Clemmey, Managing Director                                  

Cantor Fitzgerald Europe                                                   Tel: [phone]

Stewart Dickson/Julian Erleigh (Corporate Finance)

Jeremy Stephenson (Corporate Broking)                                          

Beaufort Securities Limited                                                Tel: [phone]

Saif Janjua

Yellow Jersey PR Limited                                                   Tel: [phone]

Dominic Barretto/Kelsey Traynor                                          

 

END

 

 

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