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Hargreaves Services Plc Announces Result Of Placing


Wednesday, 17 Apr 2013 06:54am EDT 

Hargreaves Services Plc announced that Pursuant to the announcement made on April 17, 2013, the Company now announced that it has successfully placed a total of 5,460,080 new ordinary shares of 10 pence each (the Placing Shares) at a price of 775 pence per Placing Share with certain new and existing institutional investors, raising total gross proceeds of approximately GBP42.3 million. The Placing Shares being issued represent approximately 16.6 per cent. of the expected enlarged issued share capital of the Company. It is intended that the net proceeds of approx GBP40.7 million will be used by Hargreaves to expand its portfolio of surface mining assets. As previously announced Hargreaves has agreed with N+1 Singer Advisory LLP and Jefferies International Limited to place 2,730,040 Placing Shares, (the First Placing Shares) with certain new and existing institutional investors on a non pre-emptive basis to raise GBP21.15 million of gross proceeds (the First Placing). Application has been made for the First Placing Shares to be admitted to trading on AIM and it is expected that admission will take place on April 22, 2013 (First Admission). In addition to the First Placing, Hargreaves has placed a further 2,730,040 Placing Shares (the Second Placing Shares) at the Placing Price with new and existing institutional investors on a non pre-emptive basis to raise an additional GBP21.15 million of gross proceeds (the Second Placing), (together with the First Placing the Placing). 

Company Quote

799.0
9.0 +1.14%
22 Jul 2014