Update on Placing and Issue of further Ordinary Shares
(Thomson Reuters ONE) - 10 November 2009 Serabi Mining Plc ("Serabi" or the "Company") Update on Placing Issue of further Ordinary Shares Application to AIM for tradingEarlier today the Board of Serabi announced that the Company hadplaced 139,867,833 New Ordinary Shares (the "Placing Shares") at aprice of 1.5 pence per Ordinary Share (the "Placing Price"). Inaddition, the Company issued 5,054,551 New Ordinary Shares to certainsuppliers and consultants in satisfaction of outstanding liabilitiesof £77,503 (the "Consultant Shares") and the Company announced itsintention to issue further New Ordinary Shares to the Directors insettlement of accrued but unpaid remuneration and benefits under theterms of their existing service contracts amounting to £95,917 at thePlacing Price.The Board has therefore today allotted 6,394,467 new Ordinary Sharesto the Directors (the "Director Shares") at price of 1.5 pence perOrdinary Share, representing in aggregate 4.56% per cent. of theexisting issued share capital, which will rank pari passu with theexisting Ordinary Shares, further details of which are set out below:Director New Ordinary Shares Existing Enlarged Percentage issued in settlement holding of holding of interest in of remuneration and Ordinary Ordinary Enlarged benefits Shares Shares Issued Ordinary Share CapitalBill 1,250,000 37,828,617 39,078,617 13.20%CloughMike 1,600,000 90,000 1,690,000 0.57%HodgsonClive Line 1,600,000 343,333 1,943,333 0.66%Graham 1,944,467 845,834 2,780,301 0.94%RobertsIn addition, to meet additional market demand pursuant to thePlacing, the Company has issued a further 4,666,667 New OrdinaryShares (the "Additional Placing Shares") at the Placing Price toraise a further £70,000 (before expenses).Application is being made today for the Placing Shares, theAdditional Placing Shares, the Consultant Shares and the DirectorShares (all of which will rank pari passu with the existing OrdinaryShares) to be admitted to trading on AIM which is expected tocommence on 16 November 2009, following which there will be296,122,583 Ordinary Shares in issue (the "Enlarged Share Capital").Enquiries:Serabi Mining plcClive Line, Finance Director Tel: 020 7246 6830 Mobile: 07710 151 692Website: www.serabimining.comBeaumont Cornish Limited (Nominated Adviser)Roland Cornish / Michael Cornish Tel: 020 7628 3396Farm Street CommunicationSimon Robinson Tel 07593 340 107ENDS---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 10.11.2009 - 16:25 Uhr
Sprache: Deutsch
News-ID 8176
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