Firestone Diamonds PLC Results of General Meeting and Open Offer (9544Z)
December 20 2017 - 7:17AM
UK Regulatory
TIDMFDI
RNS Number : 9544Z
Firestone Diamonds PLC
20 December 2017
THIS ANNOUNCEMENT AND THE INFORMATION IN IT, IS RESTRICTED, AND
IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY
OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD
BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY
SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT HAS BEEN ISSUED BY AND
IS THE SOLE RESPONSIBILITY OF THE COMPANY.
20 December 2017
Firestone Diamonds plc
("Firestone" or the "Company") (AIM: FDI)
Results of General Meeting and Open Offer
Completion of Firm Placing and Placing
Firestone Diamonds plc ("Firestone" or the "Company"), the
AIM-quoted diamond company, is pleased to announce that at the
Company's General Meeting, held earlier today, all the resolutions
proposed (the "Resolutions") were duly passed.
On 1 December 2017, the Company announced that it had
conditionally raised gross proceeds of GBP18.5 million (US$25
million) through a proposed issue of 147,888,528 Firm Placing
Shares and 36,954,356 Placing Shares at an issue price of 10 pence
per share. In addition, the Company announced that the 36,954,356
Placing Shares would be subject to clawback through an Open Offer
in order to provide Qualifying Shareholders with an opportunity to
participate in the Fundraising at the Issue Price.
The Open Offer closed for acceptances at 11.00 a.m. on 19
December 2017 in accordance with its terms. The Company has
received valid acceptances under the Open Offer in respect of
9,172,358 Open Offer Shares pursuant to Qualifying Shareholders'
Open Offer Entitlements and a further 1,787,192 Open Offer Shares
pursuant to Excess Open Offer Entitlements. A total of 10,959,550
Open Offer Shares, representing approximately 29.66% of the total
Open Offer Shares available pursuant to the Open Offer, will
therefore be issued to Qualifying Shareholders and will provide the
Company with gross proceeds of approximately GBP1.1 million through
the Open Offer. Qualifying Shareholders who validly applied for
Open Offer Shares pursuant to their Open Offer Entitlement will
receive the full amount of Open Offer Shares they applied for and
will also receive the full amount of the Open Offer Shares applied
for under the Excess Application Facility.
The remaining 25,994,806 Open Offer Shares not applied for by
Qualifying Shareholders under the Open Offer will be taken up by
Placees under the terms of the Placing.
As also announced on 1 December 2017, the following Directors
are subscribing for New Ordinary Shares at the Issue Price pursuant
to the Fundraising.
Director No. of Ordinary No. of Ordinary No. of Ordinary Percentage
Shares held Shares subscribed Shares held of Enlarged
prior to pursuant following Issued Share
the Fundraising to the Fundraising completion Capital
of the Fundraising held following
completion
of the Fundraising
Lucio Genovese 2,846,944 739,372 3,586,316 0.71
Stuart Brown 507,148 369,686 876,834 0.17
Keith Johnson 282,997 110,906 393,903 0.08
Application has been made to the London Stock Exchange for
184,842,884 New Ordinary Shares to be admitted to trading on AIM
("Admission"), with admission expected to be effective at 8.00 a.m.
on 21 December 2017.
Following Admission, the Company's total issued share capital
will comprise 505,113,970 Ordinary Shares and this figure may be
used by Shareholders 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 Disclosure Guidance and Transparency Rules of the Financial
Conduct Authority.
For more information contact:
+44 (0)20
Firestone Diamonds plc 8741 7810
Stuart Brown
Macquarie Capital (Europe) Limited +44 (0)20
(Nomad and Broker) 3037 2000
Nick Stamp
Nicholas Harland
Guy de Freitas
Tavistock (Public and Investor +44 (0)20
Relations) 7920 3150
+44 (0)7788
Simon Hudson 554 035
Jos Simson
Barney Hayward
Background information on Firestone
Firestone is an international diamond mining company with
operations focused in Lesotho. Firestone commenced commercial
production in July 2017 at the Liqhobong Diamond Mine in
Lesotho.
Lesotho is emerging as one of Africa's significant new diamond
producers, hosting Gem Diamonds' Letseng Mine, Firestone's
Liqhobong Mine and Namakwa Diamonds' Kao Mine.
For more information please visit:
www.firestonediamonds.com.
**ENDS**
This information is provided by RNS
The company news service from the London Stock Exchange
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