REG - Cadence Minerals PLC - Result of Placing & Subscription and TVR

Cadence MineralsAnnouncement

03/02/2022 07:00

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RNS Number : 5353A  Cadence Minerals PLC  03 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 Placing & Subscription and Total Voting Rights

Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to announce that it
has successfully raised gross proceeds of £4.1 million in an oversubscribed
fundraising as announced yesterday (the "Placing").

A total of 19,512,180 Placing Shares in the Company have been placed by WH
Ireland Limited ("WH Ireland") with new and existing investors at a price of
20.5 pence per share (the "Issue Price").

In addition, the Company has secured a further £0.1 million via a direct
subscription (the "Subscription") of 487,805 shares at the Issue Price (the
"Subscription Shares").

The fundraise was significantly oversubscribed in both the Placing and
Subscription and the Directors of the Company are delighted by the support
from existing shareholders and new investors, including institutional
investors.

Application will be made to the London Stock Exchange for the Placing Shares
and Subscription Shares to be admitted to trading on AIM and to the AQSE
Growth Market and it is anticipated that dealings in the Placing and
Subscription Shares will commence on AIM at 8.00 a.m. on 10 February 2022
("Admission"). The Placing and Subscription Shares will represent
approximately 11.9 per cent. of the Company's issued share capital following
completion of the Placing ("Enlarged Share Capital"). The Issue Price
represents a discount of approximately 17.1 per cent. to the closing
mid-market price of Cadence's existing ordinary shares of 24.75 pence on 1
February 2022 (being the last business day prior to the announcement of the
Placing yesterday).

Following Admission, the Company's issued and fully paid share capital will
consist of 168,049,083 Ordinary Shares, all of which carry one voting right
per share. The Company does not hold any Ordinary Shares in treasury. The
figure of 168,049,083 Ordinary Shares may be used by shareholders as the
denominator for the calculation by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority.

Capitalised terms used but not defined in this announcement have the meanings
given to them in the Company's announcement released earlier today in respect
of the Placing 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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