Issue of Equity

RNS Number : 2945N

Thor Mining PLC

27 September 2012

 



THOR MINING PLC

Issue of Equity

Dated: 27 September 2012

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR, THRO), are pleased to announce that the Company has raised A$600,000 (approximately £385,000) by way of a Placement of 50,000,000 new Ordinary Shares of 0.3p each in the capital of the Company (the "Placement") to sophisticated clients of Patersons Securities, at A$1.2 cents per share (approximately £0.8p).

The proceeds of the placement will be used to fund the Company's working capital requirements, including continued exploration and assessment of all gold and tungsten/molybdenum projects.

The Placing is conditional on the 50,000,000 new Ordinary Shares of 0.3p each in the capital of the Company (the "Placing Shares") being admitted to trading on AIM.

An application will be 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 4 October 2012.

Following the issue of the Placing Shares the Company's total issued share capital will comprise 855,883,067 Ordinary Shares of 0.3p each. In accordance with the Financial Services Authority Disclosure and Transparency Rules, the Company has 855,883,067 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 855,883,067 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	[phone]	Thor Mining PLC	Executive Chairman
Allan Burchard	[phone]	Thor Mining PLC	CFO/Company Secretary
Gerry Beaney/ David Hignell	[phone]	Grant Thornton Corporate Finance	Nominated Adviser
Nick Emerson/ Renato Rufus	[phone]	Simple Investments	Broker
Alex Walters/ Lavinia Fiamma	[phone] [phone]	Cadogan PR	Financial PR

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

 

 

IOELRMFTMBATMAT