REG - Resolute Mining Ltd - Publication of Prospectus

Resolute MiningAnnouncement

17/06/2019 15:20

RNS Number : 5069C
Resolute Mining Limited
17 June 2019
 


17 June 2019
 
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR TO US PERSONS OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
This announcement is an advertisement for the purposes of the UK Prospectus Rules and not a prospectus and not an offer of securities for sale in any jurisdiction, including in or into Australia, Canada, Japan, the Republic of South Africa or the United States. Investors should not purchase or subscribe for any shares referred to in this announcement except on the basis of information in the prospectus (the "Prospectus") published by Resolute Mining Limited, in connection with the proposed admission of its ordinary shares ("Shares") to the Standard Listing segment of the Official List of the UK Financial Conduct Authority and to trading on the Main Market for listed securities of London Stock Exchange plc (the "London Stock Exchange" or "LSE") (together, "Admission"). The Prospectus is available on the Company's website at www.rml.com.au/lse-listing/prospectus.
 
Resolute to list on London Stock Exchange
Publication of Prospectus
Admission to trading expected to commence on 20 June 2019
Highlights
·    UK Financial Conduct Authority has approved the publication of Resolute's Prospectus in support of admission to trading on the London Stock Exchange
·    Application made for admission of Resolute's ordinary shares to the Standard Listing segment of the Official List of the UK Financial Conduct Authority and to the London Stock Exchange for trading on its Main Market for securities
·     Trading in Resolute shares on the Main Market of the London Stock Exchange is expected to commence at 8.00am GMT on 20 June 2019
·     Resolute's existing listing on the Australian Securities Exchange remains unchanged and is unaffected by the dual listing on the London Stock Exchange with no new equity being raised and no new shares being issued
·      Resolute will trade on the ASX and LSE under the ticker RSG
·      Proposed listing expected to raise Resolute's profile in global investment markets and support the Company's plans for growth  
 
Resolute Mining Limited (Resolute or the Company) (ASX: RSG) is pleased to announce the UK Financial Conduct Authority (FCA) has approved publication of the Company's Prospectus in support of the intention to list on the London Stock Exchange (LSE). The Prospectus has been published today, 17 June 2019, and is now available on Resolute's website at www.rml.com.au/lse-listing/prospectus.
Application has been made for Admission of Resolute's ordinary shares to the Standard Listing segment of the Official List of the FCA and to the LSE for trading on its Main Market for securities. The Company expects that Admission will become effective and that trading in Resolute's shares on the Main Market of the LSE will commence at 8.00am on Thursday 20 June 2019 under the ticker "LSE: RSG". 
Resolute has appointed Berenberg as UK corporate broker and Tavistock as UK public relations adviser.
Managing Director and CEO, Mr John Welborn, commented:
"I am delighted to announce that our shares will commence trading on the Main Market of the London Stock Exchange on 20 June 2019. Resolute presents a compelling investment opportunity for global investors who are seeking exposure to a dynamic, innovative, dividend paying and responsible gold miner that boasts a strong growth pipeline. London is the natural home for large mining companies with an African focus. We believe Resolute will strongly appeal to this international market.
Resolute currently owns three gold mines, the Syama Gold Mine in Mali, the Ravenswood Gold Mine in Australia and the Bibiani Gold Mine in Ghana. The Company has a pathway to annual gold production in excess of 500,000 ounces from a Global Mineral Resource base of 16.8 million ounces of gold. The dual listing on the LSE is a significant milestone in the ongoing transformation of Resolute and takes place as the Company ramps up the new Syama Underground Mine. Syama is the world's first purpose built fully automated underground gold mine which has the potential to produce 300,000 ounces of gold annually over a long mine life.
We are dedicated to mining gold and creating value for shareholders and we look forward to the new listing on the LSE increasing our global profile."
Resolute will retain its existing primary listing on the Australian Securities Exchange (ASX) where it will continue to trade as normal under the ticker "ASX: RSG". Resolute is not raising additional equity capital or issuing any new shares as part of its LSE listing.
The Company currently has 758,094,588 ordinary shares outstanding, representing a market capitalisation of approximately A$857 million (approximately £459 million) based on the closing price on the ASX at 14 June 2019 of A$1.13 per share.
Resolute's existing shares will trade on the LSE as depositary interests. Each depositary interest will represent one Resolute share. Resolute shares and depositary interests will be fully transferable between the ASX and LSE. Further information pertaining to the depositary interests and instructions on how to transfer shares between exchanges is available on the Company's website at www.rml.com.au/lse-listing/.
Resolute's dual listing is expected to enhance the Company's profile in international capital markets and provide access to a larger pool of active investors. The investor base of the LSE has demonstrated a strong appetite for mining stocks and a deep understanding of the African operating environment which makes the Main Market of the LSE an attractive dual listing venue for the Company as it pursues a dynamic growth agenda.
Bryan Cave Leighton Paisner LLP (BCLP) has acted as UK legal adviser and DLA Piper has acted as Australian legal adviser to Resolute in relation to the Admission. In addition to publication of the Prospectus on Resolute's website, hard copies are available during normal business hours at the offices of BCLP located at Adelaide House, London Bridge, London EC4R 9HA, United Kingdom. The Prospectus has also been submitted to the National Storage Mechanism and will be available in due course at www.morningstar.co.uk/uk/NSM .
 
For further information, contact:




John Welborn
Managing Director & CEO
 


Jeremy Meynert
General Manager - Business Development & Investor Relations
 




Contact Us
Resolute
John Welborn, Managing Director & CEO
Jeremy Meynert, General Manager - BD & IR
Telephone: +61 8 9261 6100
Email: contact@rml.com.au
Web: www.rml.com.au
 
Berenberg (UK Corporate Broker)
Matthew Armitt / Detlir Elezi
Telephone: +44 20 3207 7800
 
Tavistock (UK Public Relations)
Jos Simson / Charles Vivian / Emily Fenton / Annabel de Morgan
Telephone: +44 207 920 3150 / +44 778 855 4035
Email: resolute@tavistock.co.uk 
About Resolute
Resolute is a successful, dividend paying gold miner with more than 30 years of experience as an explorer, developer and operator of gold mines in Australia and Africa which have produced more than 8 million ounces of gold.
Resolute currently owns three gold mines. Its flagship asset is the world class Syama Gold Mine in Mali (Syama) which can produce more than 300,000 ounces of gold per annum from existing processing infrastructure. Resolute is currently commissioning the world's first fully automated underground mine at Syama which will deliver a low cost, large scale operation with a mine life beyond 2032. Alongside Syama, Resolute owns the Ravenswood Gold Mine in Australia and the Bibiani Gold Mine in Ghana. Resolute has a pathway to annual gold production in excess of 500,000 ounces from a Global Mineral Resource base of 16.8 million ounces of gold.
 




ASX:RSG Capital Summary
Fully Paid Ordinary Shares: 758,094,588
Current Share Price:
A$1.13 as at 14 June 2019
Market Capitalisation: A$857 million
FY19 Guidance (to 30 June):
300,000oz @ AISC US$960/oz (A$1,280/oz)
 


Board of Directors
Mr Martin Botha Non-Executive Chairman

Mr John Welborn Managing Director & CEO
Ms Yasmin Broughton Non-Executive Director
Mr Mark Potts Non-Executive Director
Ms Sabina Shugg Non-Executive Director
Mr Peter Sullivan Non-Executive Director


Contact
John Welborn Managing Director & CEO
Jeremy Meynert GM - BD & IR

Level 2, Australia Place | 15-17 William St

Perth, Western Australia 6000

T: +61 8 9261 6100 | F: +61 8 9322 7597

E: contact@rml.com.au




 




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