REG - Cadence Minerals PLC - Open Offer and Posting of Circular

Cadence MineralsAnnouncement

04/02/2022 13:45

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RNS Number : 7819A  Cadence Minerals PLC  04 February 2022

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW
ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF
CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION,
RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE
ACQUIRE OR DISPOSE OF ANY SECURITIES OF CADENCE MINERALS PLC IN ANY
JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

 

Cadence Minerals Plc

 

("Cadence Minerals", "Cadence" or the "Company")

 

Open Offer and Posting of Circular

Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to announce that
further to the announcement made on 2 February 2022 concerning the "Proposed
Placing", the Circular containing further details of the Open Offer, together
with an Open Offer Application Form for Qualifying non-CREST Shareholders,
will be posted to Shareholders later today.

The Company is mindful of its existing shareholders and wants to give
shareholders the opportunity to invest on the same commercial terms as those
who have participated in the Placing. Consequently, the Company announces that
it proposes to raise up to approximately £1.52 million (before expenses) by
way of a conditional Open Offer of up to 7,432,454 Ordinary Shares (the "Open
Offer Shares") at an Issue Price of 20.5 pence (the "Issue Price"). Pursuant
to the Open Offer, Qualifying Shareholders will be given the opportunity to
subscribe for up to 7,432,454 Open Offer Shares at the Issue Price, pro rata
to their holdings of Existing Ordinary Shares at the Record Time, on the basis
of

1 Open Offer Share for every 20 Existing Ordinary Share

For the avoidance of doubt the Placing Shares to be issued in relation to the
Placing announced on 3 February 2022 are not eligible to participate in the
Open Offer.

Assuming that all the Open Offer Shares are subscribed for the enlarged share
capital of the Company will be 176,081,537.

Expected timetable of principal events

                                                                                 2022
 Record Date and time for entitlements under the Open Offer                      6.00 p.m. on 2 February
 Announcement of the Open Offer and posting of this Document and Application     4 February
 Forms
 Existing Ordinary Shares marked 'ex' by London Stock Exchange                   8.00 a.m. on 7 February
 Basic Entitlements and Excess Open Offer Entitlements credited to stock         8.00 a.m. on 8 February
 accounts in CREST of Qualifying CREST Shareholders
 Recommended latest time for requesting withdrawal of Basic Entitlements and     4.30 p.m. on 14 February
 Excess Open Offer Entitlements from CREST
 Latest time for depositing Basic Entitlements and Excess Open Offer             3.00 p.m. on 16 February
 Entitlements into CREST
 Latest time and date for splitting of Application Forms (to satisfy bona fide   3.00 p.m. on 17 February
 market claims only)
 Latest time and date for receipt of completed Application Forms and payment in  11.00 a.m. on 21 February
 full under the Open Offer or settlement of relevant CREST instruction (as
 appropriate)
 Allocation of Excess Shares to Qualifying Shareholders                          21 February
 Results of Open Offer announced through an RIS                                  21 February
 Admission and commencement of dealings in the Open Offer Shares                 22 February
 Open Offer Shares credited to CREST stock accounts                              22 February
 Despatch of definitive share certificates for Open Offer Shares held in         within 14 days of Admission
 certificated form

 

A copy of the Circular will shortly be available to download from the
Company's website at https://www.cadenceminerals.com/
(https://www.cadenceminerals.com/)

Capitalised terms used in this announcement have the meanings given to them in
the Circular and the announcement of the 'Proposed Placing' on 2 February 2022
unless the context provides otherwise.

Enquiries:

 Cadence Minerals plc                     +44 (0) 207 440 0647
 Andrew Suckling
 Kiran Morzaria

 WH Ireland Limited (NOMAD & Broker)      +44 (0) 207 220 1666
 James Joyce / Darshan Patel
 Harry Ansell / Daniel Bristowe

 Novum Securities Limited (Joint Broker)  +44 (0) 207 399 9400
 Jon Belliss

 

This announcement includes inside information as defined in Article 7 of the
UK version of Market Abuse Regulation No. 596/2014 as it forms part of UK law
as retained EU law as defined in, and by virtue of, the European Union
(Withdrawal) Act 2018, as amended, and is disclosed in accordance with the
Company's obligations under Article 17 of those Regulations.

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