Issue of Equity

RNS Number : 6852U

Thor Mining PLC

20 October 2010

 



THOR MINING PLC

Issue of Equity

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the exploration company focussed on gold and base metal projects and advancing tungsten-molybdenum projects in Australia, advises shareholders that following the announcement on 14 October the Company has successfully raise approximately AUD$912,000 (approximately £570,000 at current exchange rates) by way of a placing (the "Placing") of 57,000,000 new ordinary shares of 0.3p each in the capital of the Company (the "Placing Shares") through the issue of 57,000,000 voting CDI's in the Company (the "CDI's") at 1.6 cents per CDI to sophisticated investor clients of Patersons Securities Limited in Australia.

Austock Pty Ltd has agreed to subscribe for 26,562,500 CDI's at 1.6 cents per CDI. Following the subscription, Austock Pty Ltd will hold 26,562,500 CDI's, which is approximately 6.06% of the issued share capital of the Company as enlarged by the Placing.

An application has been made to the London Stock Exchange for the Placing Shares, which will rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading and dealings are expected to commence at 8:00 a.m. (BST) on Tuesday 26 October 2010. In Australia an application will be made to the Australian Securities Exchange (the "ASX") for the quotation of New CDI's. Dealings are expected to commence on Tuesday 26 October 2010.

Following the issue of the Placing Shares the Company's total issued share capital will be 438,559,912 ordinary shares of 0.3p each. In accordance with the Financial Services Authority Disclosure and Transparency Rules, the Company has 438,559,912 Ordinary Shares of 0.3p each in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury.

The above figure of 438,559,912 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 to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

Enquiries:

Mick Billing	+ 61 (0)414 741 007	Thor Mining PLC	Executive Chairman
Laurie Ackroyd	[phone]	Thor Mining PLC	CFO/Company Secretary
John Simpson	+ 44 (0)20 7776 6550	Daniel Stewart & Company Plc	Nominated Adviser

 

Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email.

 

END

 

 

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