Anglesey Mining plc has met its target fundraise of £1 million by placing 64,999,993 ordinary shares and a subscription of 1,666,666 ordinary shares at a price of 1.5 pence per share.
DIRECTORS
Chairman John Kearney subscribed for circa 1.7m shares for £25,000 taking his total holding to c.3m shares; chief executive Jonathan Battershill, 1.3m shares for £20,000 (c.8.6m shares); and non-executive director Namrata Verma, 666,666 shares for £10,000.
They each participated on the same terms as all other placees.
Anglesey Mining also today issued 3,333,333 ordinary shares to Mr Battershill, in lieu of his £50,000 fees for August 2021 to December 2022, in accordance with the terms of his contract.
JUNO
Juno Ltd subscribed for 14,589,149 ordinary shares and received warrants over 7,294,574 new ordinary shares at the same placing price and exercise price as the other placees.
The investment company’s shareholding in Anglesey is expected to be 79,194,397 ordinary shares representing c.20.9%.
As a result of the placing and subscription, Anglesey’s debt due to Juno will be reduced from £3.74m to £3.52m.
Following admission, the total number of ordinary shares in the capital of the company in issue will be 379,809,689 with voting rights.