REG - Cadence Minerals PLC - Result of Open Offer

Cadence MineralsAnnouncement

21/02/2022 15:45

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RNS Number : 3294C  Cadence Minerals PLC  21 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")

 

Result of Open Offer

Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to announce the result
of its Open Offer and issuance of new Ordinary Shares pursuant to the "Open
Offer and Posting of Circular" announcement on 4 February 2022.

Result of Open Offer

The Company is pleased to announce that the Open Offer with valid acceptances
received in respect of 3,634,825 Open Offer Shares, representing a take-up of
over 48.9 per cent of the 7,432,454 available Open Offer Shares.

All Qualifying Shareholders who have validly applied for Open Offer Shares
will receive their full Basic Entitlement. Accordingly, the Open Offer has
raised total gross proceeds of approximately £745,000.

The Company will apply for admission of the Open Offer Shares to trading on
AIM. Admission will occur at 8.00a.m. on Friday 25 February 2022. On
Admission, the Company will have 172,283,908 Ordinary Shares in issue and
there are no shares held in treasury. This figure may be used by shareholders
as the denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change to their interest in,
the Company under the FCA's Disclosure Guidance and Transparency Rules.

Revised expected timetable of principal events

                                                                          2022
 Results of Open Offer announced through an RIS                           21 February
 Admission and commencement of dealings in the Open Offer Shares          25 February
 Open Offer Shares credited to CREST stock accounts                       25 February
 Despatch of definitive share certificates for Open Offer Shares held in  within 14 days of Admission
 certificated form

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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