Aurum Mining PLC Posting of Annual Report and Issue of New Equity (6788P)
August 21 2014 - 2:00AM
UK Regulatory
TIDMAUR
RNS Number : 6788P
Aurum Mining PLC
21 August 2014
AURUM MINING PLC
(AIM: AUR)
21 August 2014
Posting of Annual Report and Issue of New Equity
Aurum Mining plc ("Aurum" or the "Company"), the Spanish focused
gold and tungsten explorer, announces that it has published its
Annual Report and accounts for the year ended 31 March 2014 which
will be posted to Shareholders today. A copy of the document,
including notice of Annual General Meeting and Form of Proxy will
shortly be available on the Company's website, www.aurummining.net.
The Company's Annual General Meeting will be held on 29 September
at 12 noon at the offices of Wragge Lawrence Graham & Co LLP, 4
More London Riverside, London SE1 2AU.
In addition, the Company announces a placing of 4,800,000 New
Ordinary Shares at a price of 1.25 pence per share to existing
Shareholders, to raise GBP60,000 before expenses ("the
Placing").
Application has been made to the London Stock Exchange for the
New Ordinary Shares to be admitted to trading on AIM. It is
expected that Admission will become effective at 8.00 a.m. on 28
August 2014.
The Placing will be used to fund working capital requirements to
enable the business to pursue its revised strategy, as set out in
its Annual Report.
D. W. Pension Fund Ltd., a long term Shareholder is acquiring
GBP50,000 of New Ordinary Shares taking his total holding up to
36,083,994 shares representing 24.7% of the enlarged share capital.
His participation in the Placing constitutes a related party
transaction in accordance with AIM Rule 13. The Independent
Directors, having consulted with the Company's nominated adviser WH
Ireland, consider the terms of the transaction with D. W. Pension
Fund Ltd. to be fair and reasonable insofar as its shareholders are
concerned.
In accordance with the Disclosure and Transparency Rules (DTR
5.6.1R) the Company hereby notifies the market that immediately
following Admission its issued share capital will consist of
146,091,930 Ordinary Shares of 1p each. The Company does not hold
any shares in treasury. Shareholders may use these figures 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 Company under the FCA's Disclosure and
Transparency Rules.
Contacts:
Aurum Mining plc www.aurummining.net
Chris Eadie, Chief Executive
Officer +44 (0) 20 7499 4000
WH Ireland Limited Nominated Adviser & Broker
Mike Coe, Ed Allsopp +44 (0) 117 945 3470
Notes to Editors:
Aurum Mining is an AIM listed exploration and development
company focused on its highly prospective portfolio of gold and
tungsten assets in North West Spain.
Gold
Through its joint venture agreement with Ormonde Mining plc
(AIM: ORM), Aurum currently has a 60% interest in the Pino de Oro
project in Zamora Province and a 54% interest in the Peralonso and
Cabeza projects in Salamanca Province.
Tungsten
Aurum's 20% owned Morille Tungsten project is located
approximately 15km south west of Salamanca in North West Spain and
covers an area of 5,796 hectares. The permit area is a 'brownfield'
site with historical data indicating production from the site of
high quality tungsten concentrates.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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