Additional Placing
(Thomson Reuters ONE) - Serabi Mining Plc ("Serabi" or the "Company") Additional PlacingThe Board of Serabi announces that Bill Clough and, by theirrespective pension funds, Clive Line and Mike Hodgson, Directors ofthe Company, have today agreed to subscribe for new Ordinary Sharesat the Placing Price for a total consideration of £81,996 as follows:Director Number of new Total number of Percentage Ordinary Shares Ordinary Shares interest in subscribed for at held after Enlarged Issued the Placing Price Admission Ordinary Share CapitalBill Clough 1,000,000 40,078,617 12.2 per cent.Mike Hodgson (by 2,233,200 3,923,200 1.2 per cent.his pension fund)Clive Line (by 2,233,200 4,176,533 1.3 per cent.his pension fund)Bill Clough, Clive Line and Mike Hodgson (or their respective pensionfunds) did not subscribe for any Ordinary Shares in the Open Offer.In addition, to meet market demand, the Company has placed a further4,999,999 new Ordinary Shares at the Placing Price for a totalconsideration of £75,000. The Company currently plans no furtherequity issues although it is reviewing the Company's existing optionarrangements.As a result of the First Placing, the Open Offer, the Convertible andother issues of shares completed since 10 November 2009, includingthose detailed above, the Company has raised gross proceeds of £2.8million from subscriptions other than by the Directors, which will beused to commence the first stage of exploration and furtherevaluation of the 18 prioritised geophysical anomalies identified bythe Company near to its Palito mine and to fund the general workingcapital requirements of the Group.Application will be made to the London Stock Exchange for the NewOrdinary Shares to be admitted to trading on AIM. It is expected thatAdmission will become effective and that dealings in the New OrdinaryShares will commence on AIM at 8.00 a.m. on 9 December 2009. The NewOrdinary Shares will, when issued and fully paid, rank pari passu inall respects with the Existing Ordinary Shares including the right toreceive all dividends and other distributions declared, made or paidafter the date of their issue. The Enlarged Issued Share Capitalfollowing Admission will be 327,740,595 Ordinary Shares in aggregate.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 CommunicationsSimon Robinson Tel: 07593 340 107This announcement is for information only and shall not constitute anoffer to buy, sell, issue, or subscribe for, or the solicitation ofan offer to buy, sell or issue, or subscribe for any securities, norshall there be any sale of securities in any jurisdiction in whichsuch offer, solicitation or sale would be unlawful prior toregistration or qualification under the securities laws of any suchjurisdiction. This announcement has been issued by and is the soleresponsibility of Serabi. DEFINITIONS"Additional Placing the 5,000,000 Ordinary Shares subscribedShares" for at the Placing Price as set out in this announcement"Admission" admission of the New Ordinary Shares to trading on AIM becoming effective in accordance with the AIM Rules"AIM" a market operated by the London Stock Exchange"Company" or "Serabi" Serabi Mining Plc"Convertible" an unsecured £300,000 convertible loan facility, convertible into up to 20,000,000 new Ordinary Shares at 1.5 pence per share"Directors" or the "Board" the directors of the Company as at the date of this announcement"Directors' Subscription" in aggregate the 5,466,400 new Ordinary Shares subscribed by Bill Clough and the respective pension funds of Clive Line and Mike Hodgson at the Placing Price"Enlarged Issued Share the Ordinary Shares in issue on AdmissionCapital" comprising the Existing Ordinary Shares, the Open Offer Shares and the New Ordinary Shares"Existing Ordinary Shares" the existing Ordinary Shares of the Company in issue at the date of this announcement"First Placing" the placing by the Company announced on 10 November 2009 of 144,534,500 Ordinary Shares at 1.5 pence per share"New Ordinary Shares" the Directors' Subscription and the Additional Placing Shares"Open Offer" the conditional offer to subscribe for Open Offer Shares at the Placing Price made by the Company on the terms set out in the Circular dated 17 November 2009"Open Offer Shares" 21,151,613 Ordinary Shares under the Open Offer"Ordinary Shares" ordinary shares of 0.5 pence each in the capital of the Company"Placing Price" 1.5 pence for each Ordinary Share"Shareholder" a holder of Ordinary Shares from time to time.ENDS---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.12.2009 - 18:18 Uhr
Sprache: Deutsch
News-ID 9251
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