London Mining - PLACING CONCLUDED SUBJECT TO AIM ADMISSION
(Thomson Reuters ONE) - London Mining today announces the conclusion of a placing of existingordinary shares ("Ordinary Shares") by its UK brokers on behalf oflong term shareholders, subject to admission of the Company'sOrdinary Shares to trading on AIM ("Admission"). The Ordinary Shareshave been placed with UK based institutions who will be able to tradethrough London's AIM market (under the ticker LOND.L) followingAdmission. Admission is expected to take place on 6 November 2009.Passport Global Master Fund SPC Ltd and Passport SpecialOpportunities Master Fund, LP (together, "Passport"), CaspianInvestments (BVI) Limited, Benbrack Charkit Limited and NaturalisteHoldings Pty Ltd are selling a total of 37,239,225 Ordinary Sharespursuant to the placing, at GBP1.924 (NOK18) per Ordinary Share. Theplacing, conducted by Liberum Capital Limited and GMP SecuritiesEurope LLP, is conditional on, amongst other things, Admissionbecoming effective. The Company will not receive any proceeds fromthe placing. As announced on 16 October 2009 the purpose of theplacing of these Ordinary Shares is to increase the free float andprovide an appropriate level of liquidity in the London market.Immediately following Admission, Caspian Investments (BVI) Limited,Benbrack Charkit Limited and Naturaliste Holdings Pty Ltd will own18.32%, 4.56% and 1.19% of the Ordinary Shares respectively. Theselling shareholders (other than Passport, which will not hold anyOrdinary Shares following Admission) have agreed to voluntarylock-ins over their remaining holdings in the company for 6 months(subject to certain carve-outs). For a further period of 180 daysafter the expiry of this period, the selling shareholders (other thanPassport) have agreed to a customary orderly market arrangement inrespect of their remaining holdings.On 21 October 2009 the Company announced that a letter had beendispatched to shareholders providing details of the impact that theproposed Admission will have on settlement arrangements. The letteralso provided details of the action that holders of interests inOrdinary Shares in VPS and registered holders of Ordinary Shares needto take if they wish to hold Ordinary Shares in dematerialised formin CREST. If you are a VPS shareholder and you have followed theprocedures in sections 4(i) and 4(ii) of the letter to transfer yourOrdinary Shares into CREST, you should now instruct your CRESTaccount operator to input the matching criteria referred to insection 4(iii) of the letter by no later than noon (London time) on 5November 2009. The trade date and settlement date to be included inthe matching criteria will be 6 November 2009.A further announcement will be made on the day London Mining admitsto AIM.Graeme Hossie, CEO of London Mining said "We are extremely pleasedabout the quality of the new shareholders we have been able toattract to our register. We look forward to delivering our projectsand growing London Mining into a significant mid-tier miningcompany."For more information, please contact:London MiningGraeme Hossie, Chief Executive Officer +44 20 7201 5000Rachel Rhodes, Finance DirectorThomas Credland, Head of Investor RelationsLiberum Capital (Broker/Nomad)Clayton Bush/Ellen Francis +44 20 3100 2000GMP Securities Europe (Broker)Jeremy Wrathall +44 20 7647 2800Crux Kommunikasjon AS (Norway media)Charlotte Knudsen +47 97 56 19 59Threadneedle Communication (UK media)Laurence Read/ Graham Herring +44 20 7653 9850DisclaimerThe Company is not offering any new Ordinary Shares or any othersecurities in connection with the proposed Admission. The OrdinaryShares have not been nor will they be, registered under the USSecurities Act of 1933, as amended, or with any securities regulatoryauthority of any state or other jurisdiction of the United States orunder the applicable securities laws of Australia, Canada, Japan,South Africa or the Republic of Ireland. Subject to certainexceptions, the Ordinary Shares may not be offered or sold in theUnited States, Australia, Canada, Japan, South Africa or the Republicof Ireland or to or for the account or benefit of any national,resident or citizen of Australia, Canada, Japan, South Africa or theRepublic of Ireland or any person located in the United States.This announcement does not constitute an offer of, or thesolicitation of an offer to subscribe for or buy, any Ordinary Sharesto any person in any jurisdiction to whom it is unlawful to make suchoffer or solicitation in such jurisdiction and is not fordistribution in, or into, the United States, Australia, Canada,Japan, South Africa or the Republic of Ireland. The distribution ofthis announcement in other jurisdictions may be restricted by law andtherefore persons into whose possession this announcement comesshould inform themselves of and observe such restrictions.Liberum Capital Limited ("Liberum") is regulated by the FinancialServices Authority and is acting exclusively for the Company and forno one else in connection with the proposed placing of existingOrdinary Shares (the "Placing") and Admission. Liberum will not beresponsible to anyone other than the Company for providing theprotections afforded to customers of Liberum or for advising anyother person on the contents of this announcement or the Placing andAdmission. The responsibility of Liberum as nominated adviser andjoint broker to the Company is owed solely to the London StockExchange and is not owed to the Company or the Directors or any otherperson. No representation or warranty, express or implied, is made byLiberum as to the contents of this announcement. No liabilitywhatsoever is accepted by Liberum for the accuracy of any informationor opinions contained in this announcement or for the omission of anymaterial information for which it is not responsible.GMP Securities Europe LLP ("GMP") is regulated by the FinancialServices Authority and is acting exclusively for the Company (asjoint broker) and for no one else in connection with the Placing andAdmission. GMP will not be responsible to anyone other than theCompany for providing the protections afforded to customers of GMP orfor advising any other person on the contents of this announcement orthe Placing and Admission. The responsibility of GMP as joint brokerto the Company is owed solely to the London Stock Exchange and is notowed to the Company or the Directors or any other person. Norepresentation or warranty, express or implied, is made by GMP as tothe contents of this announcement. No liability whatsoever isaccepted by GMP for the accuracy of any information or opinionscontained in this announcement or for the omission of any materialinformation for which it is not responsible.This announcement, including information included or incorporated byreference in this announcement, may contain 'forward-lookingstatements'. Generally, the words 'will', 'may', 'should', 'could','would', 'can', 'continue', 'opportunity', 'believes', 'expects','intends', 'anticipates', 'estimates' or similar expressions identifyforward-looking statements. The forward-looking statements involverisks and uncertainties that could cause actual results to differmaterially from those expressed in the forward-looking statements.Many of these risks and uncertainties relate to factors that arebeyond the Company's ability to control or estimate precisely, suchas future market conditions and the behaviours of other marketparticipants, and therefore undue reliance should not be placed onsuch statements. London Mining assumes no obligation and does notintend to update these forward-looking statements, except as requiredpursuant to applicable law or regulation.http://hugin.info/137683/R/1352114/327010.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 04.11.2009 - 08:00 Uhr
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