TIDMHOC
RNS Number : 4565E
Hochschild Mining PLC
04 November 2015
______________________________________________________________________________
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, RUSSIA OR ANY
OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.
PLEASE SEE THE IMPORTANT NOTICE IN THIS ANNOUNCEMENT.
4 November 2015
Results of Rights Issue & Changes in Directors' Share
Interests
Hochschild Mining plc (the "Company") today announces that the 3
for 8 rights issue of 137,883,138 new Ordinary Shares in the
Company ("New Ordinary Shares") at 47 pence per New Ordinary Share
announced on 15 October 2015 (the "Rights Issue") closed for
acceptances at 11:00 a.m. (London time) on 3 November 2015. The
Company received valid acceptances in respect of 134,888,835 New
Ordinary Shares, representing approximately 97.83% of the total
number of New Ordinary Shares to be issued pursuant to the Rights
Issue.
It is expected that the New Ordinary Shares in uncertificated
form will be credited to CREST accounts as soon as practicable
after 8.00 a.m. on 4 November 2015 and that definitive share
certificates in respect of New Ordinary Shares in certificated form
will be dispatched to shareholders by no later than 11 November
2015.
The New Ordinary Shares are expected to commence trading, fully
paid, on the London Stock Exchange plc's main market for listed
securities later today.
In accordance with their obligations as Joint Bookrunners in
respect of the Rights Issue pursuant to an Underwriting Agreement
dated 15 October 2015, J.P. Morgan Cazenove, BofA Merrill Lynch and
RBC Capital Markets will endeavour to procure subscribers for the
remaining 2,994,303 New Ordinary Shares not validly taken up in the
Rights Issue, failing which J.P. Morgan Cazenove, BofA Merrill
Lynch and RBC Capital Markets as underwriters have agreed to
acquire, on a several basis, any remaining New Ordinary Shares.
The net proceeds from the placing of such New Ordinary Shares
(after the deduction of the Issue Price of 47 pence per New
Ordinary Share and the expenses of the Rights Issue) will be paid
(without interest) to those persons whose rights have lapsed in
accordance with the terms of the Rights Issue, pro rata to their
lapsed provisional allotments, save that individual amounts of less
than GBP5 will not be paid to such persons but will be paid to the
Company.
A further announcement as to the number of New Ordinary Shares
for which subscribers have been procured will be made in due
course.
The Company also announces pursuant to paragraph 3.1.4R of the
Disclosure and Transparency Rules that, on 3 November 2015, it was
notified of the acquisitions detailed below of New Ordinary Shares
by certain of its Directors or their connected persons pursuant to
the Rights Issue.
Director New Ordinary Shares Total beneficial
acquired pursuant holdings of Ordinary
to the Rights Issue Shares following
the Rights Issue
------------------- -------------------- ---------------------
Mr E Hochschild(1) 74,745,101 274,065,373
Mr R Danino 75,000 275,000
Mr I Bustamante 45,466 166,710
Mr M Field 5,356 19,641
Mr N Moore 18,750 68,750
Mr G Birch 3,750 13,750
------------------- -------------------- ---------------------
_________________________________________________________________________________
Enquiries:
Hochschild Mining plc
Charles Gordon
+44 (0)20 3714 9040
Head of Investor Relations
Sponsor and Joint Bookrunner
J.P. Morgan Cazenove
Ben Davies/Virginia Khoo/Laurene Danon +44 (0)207 742 4000
Joint Bookrunner
BofA Merrill Lynch
Omar Davis/Edward Peel/Matthew Blawat +44 (0)207 628 1000
Joint Bookrunner
RBC Capital Markets
Tristan Lovegrove/Duncan Smith/Ema Jakasovic +44 (0)207 653
4000
__________________________________________________________________________________
About Hochschild Mining plc
Hochschild Mining plc is a leading precious metals company
listed on the London Stock Exchange (HOCM.L / HOC LN) with a
primary focus on the exploration, mining, processing and sale of
silver and gold. Hochschild has over fifty years' experience in the
mining of precious metal epithermal vein deposits and currently
operates four underground epithermal vein mines, three located in
southern Peru and one in southern Argentina. Hochschild also has
numerous long-term projects throughout the Americas.
IMPORTANT NOTICE
This announcement is for information purposes only and is not
intended to and does not constitute or form part of any offer or
invitation to purchase or subscribe for, or any solicitation to
purchase or subscribe for, New Ordinary Shares or to take up any
entitlements to New Ordinary Shares in any jurisdiction. This
announcement cannot be relied upon for any investment contract or
decision.
The information contained in this announcement is not for
release, publication or distribution to persons in the United
States, Australia, Japan, New Zealand, the Republic of South Africa
or Russia or any other Excluded Territory and should not be
distributed, forwarded to or transmitted in or into any
jurisdiction where to do so might constitute a violation of the
securities laws or regulations of such jurisdiction. There will be
no public offer of New Ordinary Shares in the United States,
Australia, Japan, New Zealand, the Republic of South Africa or
Russia or any other Excluded Territory.
J.P. Morgan Securities plc (which conducts its UK investment
banking activities as J.P. Morgan Cazenove) ("J.P. Morgan
Cazenove"), Merrill Lynch International and RBC Europe Limited, who
are each authorised in the United Kingdom by the Prudential
Regulation Authority ("PRA") and are regulated in the United
Kingdom by the PRA and the Financial Conduct Authority ("FCA"), are
acting for the Company and no one else in connection with the
Rights Issue, and will not be responsible to anyone other than the
Company for providing the protections afforded to its clients or
for providing advice in relation to the Rights Issue or any matters
referred to in this announcement.
Apart from the responsibilities and liabilities, if any, which
may be imposed on J.P. Morgan Cazenove, Merrill Lynch International
and RBC Europe Limited by FSMA or the regulatory regime established
thereunder or otherwise under law, J.P. Morgan Cazenove, Merrill
Lynch International and RBC Europe Limited do not accept any
responsibility whatsoever for the contents of this announcement,
and no representation or warranty, express or implied, is made by
J.P. Morgan Cazenove, Merrill Lynch International or RBC Europe
Limited in relation to the contents of this announcement, including
its accuracy, completeness or verification or regarding the
legality of any investment in the New Ordinary Shares by any person
under the laws applicable to such person or for any other statement
made or purported to be made by it, or on its behalf, in connection
with the Company, the New Ordinary Shares, the Rights Issue, and
nothing in this announcement is, or shall be relied upon as, a
promise or representation in this respect, whether as to the past
or the future. To the fullest extent permissible J.P. Morgan
Cazenove, Merrill Lynch International and RBC Europe Limited
accordingly disclaim all and any responsibility or liability
whether arising in tort, contract or otherwise (save as referred to
above) which they might otherwise have in respect of this
announcement.
The distribution of this announcement into jurisdictions other
than the United Kingdom may be restricted by law, and, therefore,
persons into whose possession this announcement comes should inform
themselves about and observe any such restrictions. Any failure to
comply with any such restrictions may constitute a violation of the
securities laws of such jurisdiction. In particular, subject to
certain exceptions, this announcement should not be distributed,
forwarded or transmitted in or into the United States, Australia,
Japan, New Zealand, the Republic of South Africa or Russia or any
other Excluded Territory.
This announcement does not constitute or form part of an offer
or solicitation to purchase or subscribe for securities of the
Company in the United States, Australia, Japan, New Zealand, the
Republic of South Africa or Russia or any other Excluded Territory.
The New Ordinary Shares have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), or under any securities laws of any state or
other jurisdiction of the United States and may not be offered,
sold, pledged, taken up, exercised, resold, renounced, transferred
or delivered, directly or indirectly, within the United States
except pursuant to an applicable exemption from, or in a
transaction not subject to, the registration requirements of the
U.S. Securities Act and in compliance with any applicable
securities laws of any state or other jurisdiction of the United
States. The New Ordinary Shares have not been approved or
disapproved by the SEC, any state securities commission in the
United States or any other U.S. regulatory authority, nor have any
of the foregoing authorities passed upon or endorsed the merits of
the offering of the New Ordinary Shares or the accuracy or adequacy
of the Prospectus. Any representation to the contrary is a criminal
offence in the United States.
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