REG - Contango HoldingsPLC - Publication of Prospectus

Contango HoldingsAnnouncement

20/01/2025 13:30

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RNS Number : 9933T  Contango Holdings PLC  20 January 2025

Contango Holdings Plc / Index: LSE / Epic: CGO / Sector: Natural Resources

 

20 January 2025

 

Contango Holdings PLC

("Contango" or the "Company")

 

Publication of Prospectus

 

Contango Holdings Plc is pleased to announce that it has today published a
Prospectus for the issue of 191,255,217 New Ordinary Shares in connection with
the issue of the Subscription Shares and Fee Shares.

 

On 17 June 2024, the Company announced that it had entered into a term sheet
with Huo Investments (Pvt) Limited ("Investor") for the disposal of 51% of
Muchesu ("Monaf Investment Agreement" or "MIA")) in consideration of i) a
facility to invest a further $20m at Muchesu, ii) a royalty agreement with
Monaf that pays the Company on coals produced for the life of mine; and iii) a
subscription of 142,000,000 ordinary shares at the issue price of £0.0111 for
$2m with the Company (the "Transaction").

 

Following the issue of the Prospectus, the Company may now complete the
Subscription for 166,666,665 New ordinary Shares raising gross proceeds of
£1,850,000.  Huo Investments (Pvt) Limited will hold 142,000,000 shares in
the Company resulting in a holding of approximately 19%, being the largest
shareholder of the Company. Net Proceeds of £1,775,000 will be dedicated to
the working capital of the Company. The Company is targeting to complete to
close the Transaction in Q1 2025 pending the finalisation of the Definitive
Agreements.

 

A copy of the Prospectus has been submitted to the National Storage Mechanism
and will shortly be available for inspection
at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy will also
be made available on https://www.contango-holdings-plc.co.uk/
(https://www.contango-holdings-plc.co.uk/) .

 

 Application to listing and trading

The Company will make an application for the 191,255,217 New Ordinary Shares
to be admitted to trading on the Equity Shares (transition) category of the
Official List and the Main Market of the London Stock Exchange at 8.00 a.m. on
24 January 2025. The expected timetable of principal events for Admission is
set out below. All references to time in this announcement are to London time.
Any changes to the expected timetable will be notified by the Company though
an RIS.

 

Total Voting Rights

The Company hereby notifies the market, in accordance with the FCA's
Disclosure Guidance and Transparency Rule 5.6.1, that on Admission, the
Company's expected issued share capital will consist of 757,979,240 Ordinary
Shares, each with one vote. The Company does not hold any Ordinary Shares in
Treasury. On Admission, the total number of voting rights in the Company is
expected to be 757,979,240 and 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.

 

Expected Timetable of Events

 Publication of the Prospectus                                         20 January 2025
 Admission and commencement of dealings in the Enlarged Share Capital  8.00 a.m. on 24 January 2025
 Crediting of New Ordinary Shares to CREST                             24 January 2025
 Certificates for the New Ordinary Shares                              Within 10 business days of Admission

Unless otherwise defined, capitalised terms used in this announcement shall
have the same meaning as set out in the Prospectus.

 

 

**ENDS**

 

 Contango Holdings plc                   E: contango@stbridespartners.co.uk

 Chief Executive Officer

 Carl Esprey

 Tavira Financial Limited                T: +44 (0)20 7100 5100

 Financial Adviser & Broker

 Jonathan Evans

 St Brides Partners Ltd                  T: +44 (0)20 7236 1177

 Financial PR & Investor Relations

 Susie Geliher

 

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