REG - Ferro-Alloy Rsrcs - Result of PrimaryBid Offer

Ferro-Alloy ResourcesAnnouncement

15/09/2022 17:15

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RNS Number : 6656Z  Ferro-Alloy Resources Limited  15 September 2022

 

 

NOT FOR DISTRIBUTION OR FOR PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, CANADA, AUSTRALIA,
JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT
WOULD BE UNLAWFUL TO DO SO.  ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT
CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY,
SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF FERRO-ALLOY
RESOURCES LIMITED IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION
WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 (INCLUDING AS IT FORMS PART OF THE LAWS OF
ENGLAND AND WALES BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
("MAR").

15 September 2022

 

Ferro-Alloy Resources Limited

(the "Company")

Result of PrimaryBid Offer

Ferro-Alloy Resources Limited (LSE:FAR), the vanadium mining and processing
company with operations based in Southern Kazakhstan, is pleased to announce
that the PrimaryBid Offer was well supported, and fully taken up, raising
gross proceeds of approximately US$0.5 million at 12 pence per Ordinary Share.

 

As a result, Vision Blue Resources Limited's participation in the Placing
remains unchanged. Vision Blue Resources is the Group's strategic investor and
substantial shareholder(as defined by the Listing Rules).

 

The Placing, Subscription and the PrimaryBid Offer have, in aggregate, raised
approximately £8.6 million (approximately US$10.0 million) for the Company
(before expenses).

 

The Company will issue and allot a total of 3,601,267 PrimaryBid Shares to
satisfy the PrimaryBid Offer. Application has been made to the London Stock
Exchange for these new PrimaryBid Shares, which rank pari passu with the
Company's existing Ordinary Shares, to be admitted to the Official List
(Standard Segment) and to trading on the London Stock Exchange's Main market
for listed securities ("Admission "). Dealings are expected to commence at
8.00 a.m. on 23 September 2022 alongside the Placing Shares and the
Subscription Shares, as announced earlier today.

 

Total Voting Rights

 

Following Admission of the Placing Shares, Subscription Shares and the Retail
Offer Shares, the Company's issued ordinary share capital will comprise
449,702,150 Ordinary Shares, including nil held in treasury, and therefore,
the total number of Ordinary Shares in the Company with voting rights will be
449,702,150. This figure may be used by shareholders in the Company 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
share capital of the Company under the applicable legal and regulatory
requirements.

 

Capitalised terms not defined in this Announcement have the meaning given to
them in the Launch Announcement.

 

 Ferro-Alloy Resources Limited

 Nick Bridgen (CEO)                info@ferro-alloy.com

 William Callewaert (CFO)

 PrimaryBid Limited                enquiries@primarybid.com

 Fahim Chowdhury / James Deal

 Shore Capital                     Toby Gibbs/John More            +44 207 408 4090

 (Joint Corporate Broker)

 Liberum Capital Limited           Scott Mathieson/William King

 (Joint Corporate Broker)                                          +44 20 3100 2000

 St Brides Partners Limited        Catherine Leftley               +44 207 236 1177

 (Financial PR & IR Adviser)

 

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