Placement of Shares

RNS Number : 1250H

Regency Mines PLC

14 May 2014

 



Regency Mines Plc

("Regency" or the "Company")

Placement of Shares

14 May 2014

Regency Mines is pleased to announce that it has raised £350,000 by way of a placing of 159,090,907 new ordinary shares of 0.1 pence each ("Ordinary Shares") in the Company with institutional and private investors, at a price of £0.0022 per Share (the "Placing"). 

The proceeds of the Placing will be applied to currently planned  expenditure in Sudan and for the nickel joint venture  in Papua New Guinea,  and working capital purposes.

Application has been made to the London Stock Exchange for the new Ordinary Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 20 May 2014.

Following the Placing, the Company's total issued ordinary share capital will consist of 1,475,402,734 Ordinary Shares with voting rights. No Ordinary Shares are held in treasury.

The above figure of 1,475,402,734 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 the Company under the FSA's Disclosure and Transparency Rules.

Chairman Andrew Bell states: "This placement follows the recent notice of conversion of interests in Australia to Ram Resources shares, and together with that conversion gives a new robustness and financial visibility to the Company. We welcome some new and supportive shareholders who share our confidence in the prospects of the Company. We will continue to control costs and are seeking ways to benefit from the sharp recovery in the nickel market, whose prolonged weakness has until recently hindered our strategic development and that of our partners." 

For further information contact:

Andrew Bell0207 747 9990 or 0776 647 4849                  Chairman Regency Mines plc

Colin Aaronson / David Hignell 0207 383 5100             NOMAD Grant Thornton UK LLP

Nick Emerson 01483 413500                                          Broker SI Capital Ltd.

Saif Janjua 0207 382 8415                                             Joint Broker Beaufort Securities Ltd

Rupert Trefgarne 0203 128 8817                                    Media Relations MHP Communications

 

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