Fox Davies Capital Daily Update - Caza, Tullow, Petrolatina, Kefi, Central Rand Gold
Friday, Jan 22 2010 by Fox Davies Capital
" Central Rand Gold (LON:CRND) announced that it has placed a total of 24,691,964 new ordinary shares of 1p each in the capital of the Company at a price of 15p per Placing Share to raise £3.7M (US$6.0M). The Placing has been supported by the Directors and senior management and certain existing substantial shareholders. 23,781,964 Placing Shares have been placed using a cash box structure with existing investors and 910,000 Placing Shares have been placed with Directors and senior management of the Company. The Placing Shares represent 9.99 per cent of CRG's existing issued ordinary share capital and 9.09 per cent of the issued share capital of the Company as enlarged by the Placing. The Placing price of 15p per share represents a discount of 4.76 per cent to the closing mid-price on 21 January 2010 of 15.75p per share. The Placing has been underwritten by Evolution Securities Limited.”
Isn't the Evolution Down Grade an Up-Grade to 2.5p - a 100% on the current share price of 1.25p?
This is Fantastic News for New Shareholders. IMHO
Central Rand Gold (LON:CRND)