Orogen Gold PLC £450,000 Equity Fundraising (8113A)
01 10월 2015 - 12:52AM
UK Regulatory
TIDMORE
RNS Number : 8113A
Orogen Gold PLC
30 September 2015
Orogen Gold plc
("Orogen Gold" or the "Company")
GBP450,000 Equity Fundraising
The Company announces that it has, through its broker Beaufort
Securities Limited, conditionally placed 1,800,000,000 new ordinary
shares of 0.01p each ("Ordinary Shares") (the "Placing Shares")
with existing and new investors at a price of 0.025p per share,
raising GBP450,000 before expenses (the "Placing"). The net
proceeds of the Placing will provide additional working capital,
which will be used, inter alia, to advance the Company's
exploration programs and to develop new projects.
The Placing Shares, which represent approximately 32.7% percent
of the Company's enlarged share capital, will rank pari passu in
all respects with the existing ordinary shares. Application will be
made for the Placing Shares to be admitted to trading on AIM and
admission is expected to take place on or around 7 October
2015.
Directors' Dealings
The directors of the Company have each agreed to subscribe for
Placing Shares as set out in the table below.
Director Shareholding Placing Shareholding % of enlarged
prior to Shares subscribed following share capital
Placing for Placing
Adam Reynolds 62,040,580 25,000,000 87,040,580 1.58
Colin Bird - 100,000,000 100,000,000 1.82
Ed Slowey 140,896,071 25,000,000 165,896,071 3.01
Alan Mooney 104,610,907 25,000,000 129,610,907 2.35
Michael
Nolan 110,110,907 25,000,000 135,110,907 2.45
Total Voting Rights
For the purposes of the Disclosure and Transparency Rules, the
Company's total issued share capital following the completion of
the Placing will comprise 5,507,669,337 Ordinary Shares with one
voting right per share. There are no shares held in treasury.
Shareholders may use the above figure 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 and Transparency Rules.
Enquires:
Orogen Gold plc +353 1662 8395
Colin Bird, CEO
Alan Mooney, FD
Cairn Financial Advisers LLP (Nominated Adviser) +44 (0) 20 7148 7900
Avi Robinson/ Liam Murray
Beaufort Securities Limited (Broker) +44 (0) 20 7382 8300
Jon Belliss
Walbrook (Public Relations and Investor Relations) +44 (0) 20 7933 8780
Paul Cornelius/ Guy McDougall
About Orogen Gold
Orogen Gold plc is a UK public company quoted on the London
Stock Exchange AIM market (ticker: ORE). The Company is focused on
mineral exploration and development in Europe and is currently
operating two gold exploration projects: a) at Mutsk in Armenia and
b) at Deli Jovan in Serbia. The Mutsk gold project in Armenia was
optioned by Orogen early in 2013 to follow-up reports of a new
epithermal discovery within an established gold district. At Deli
Jovan the historic high-grade gold mining camp was last in
production prior to World War II and has been significantly
under-explored in modern times. The Mutsk project has been
prioritised by the Company due to the clear potential evident on
the property.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 30, 2015 11:52 ET (15:52 GMT)
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