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Provider: Reuters Investment Profile
$20.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00

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Karelian Diamond Resources PLC announces placing


Wednesday, 11 Dec 2013 02:05am EST 

Karelian Diamond Resources PLC:Says it is raising 700,000 pounds, before expenses, through a placing of 46,666,666 ordinary shares of 0.01 Euros in the capital of the company.The placing shares have been placed at a price of 1.5 pence per placing share.In addition, professor Richard Conroy, chairman of the company, has capitalised loans amounting to 4 69,875 pounds by subscribing for 31,325,000 ordinary shares of 0.01 Euros in the capital of the company at the placing price.Following the admission of the New Shares, Professor Richard Conroy will hold 6 8,356,701 Ordinary Shares in the company, representing about 40. 16 Pct of the company's enlarged share capital and total voting rights.The placing shares were placed with institutional and retail investors by xcap securities plc (XCAP).The placing and subscription are conditional on admission of the placing and subscription shares to trading on AIM and the enterprise securities market operated by the Irish Stock Exchange Limited (ESM).The new shares will rank pari passu with the existing issued ordinary shares of 0.01 Euros in the capital of the company.The company intends to use the net proceeds of the placing primarily accelerate the company's ongoing programmes at its various diamond prospects in finland and for working capital generally.Admission and trading are expected to commence on Dec. 17. 

Company Quote

1.375
0.075 +5.77%
12 Sep 2014