REG - URA Holdings PLC - Launch of Placing and subscription to Raise c.£1M

URA HoldingsAnnouncement

20/11/2023 16:45

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RNS Number : 0362U  URA Holdings PLC  20 November 2023

 

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

 

20 November 2023

 

URA Holdings plc

("URA" or the "Company")

 

Launch of Placing and subscription to Raise c.£1 Million via Accelerated
Bookbuild

 

URA announces a placing and subscription to raise £1,000,000 (before
expenses) through a placing and subscription (together the "Fundraise"),
issuing in aggregate 80,000,000 new ordinary shares in the capital of the
Company ("New Ordinary Shares") at an issue price of 1.25p per New Ordinary
Share, subject to publication of a prospectus and shareholder approval. The
issue price of 1.25p represents a discount of 24% to the mid market closing
price of the ordinary shares on the London Stock Exchange plc at 4pm on 20
November 2023.

 

A prospectus relating to the Fundraise has been lodged with the FCA and is
expected to be published shortly. The Company also expects to post a circular
to shareholders in the coming days to seek authority to, inter alia, allot new
ordinary shares in connection with the Fundraise.

 

The proceeds of the Fundraise will be used to restart the Gravellotte Emerald
Mine and includes the purchase and installation of the remaining capital
items, primarily relating to the commissioning of the processing plant as well
as general working capital. The restart of mining and processing operations
and first emerald production is expected to occur in Q1 2024.

 

The placing shares are being offered by way of an accelerated bookbuild
process (the "Bookbuild") which will be launched immediately following the
release of this announcement. Capital Plus and Peterhouse Capital are acting
as bookrunners in connection with the placing.

 

A further announcement will be issued with the results of the Bookbuild. A
circular convening a General Meeting for the purposes of, inter alia,
approving the allotment of shares in connection with the Fundraise will be
published in due course. The admission to trading of the shares in connection
with the Fundraise will also be conditional upon the publication of a
secondary prospectus by the Company.

-Ends-

 URA Holdings plc            +44 (0)746 368 6497

 CEO

 
 Bernard Olivier

 COO

Jeremy Sturgess-Smith

 Director

 Peter Redmond

 Peterhouse Capital Limited  +44 (0)20 7469 0930

 Corporate Broker

 Lucy Williams

 Duncan Vasey

 

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