![]() ![]() The Company's vision is to build a sustainable and innovative mining company, which creates shareholder value by developing mining assets, delivering production and generating cash flow, and, in so doing, meets society's needs for metals. This authority was granted by Shareholders at the Company's annual general meeting held on 10 September 2020.Ī prospectus relating to the Open Offer and SDR Rights Issue is expected to be posted to Qualifying Shareholders on or around 17 November 2020 subject to final regulatory approval.īeowulf has an asset portfolio diversified by commodity and development stage in several countries. ![]() The New Ordinary Shares will be issued using the Directors' existing authority to allot shares for cash on a non-pre-emptive basis. discount to the TERP of the SDRs based on the closing price per SDR on Spotlight, in each case on 5 November 2020. discount to the theoretical ex-rights price ("TERP") of the Ordinary Shares based on the Closing Price per Ordinary Share and the SDR Offer Price of SEK 0.370 represents approximately a 35 per cent. The Offer Price under the Open Offer and Additional Subscription of 3.16 pence represents approximately a 35 per cent. The net proceeds from the Capital Raising, estimated to be approximately £6 million (corresponding to approximately SEK 69 million) (assuming full take-up under the Open Offer and SDR Rights Issue), will be used to advance the Company's portfolio of assets in Sweden, Finland and Kosovo. The gross proceeds from the Open Offer, the SDR Rights Issue and the Additional Subscription (together the " Capital Raising") will be up to approximately £7.3 million (corresponding to approximately SEK 83 million) in aggregate. Beowulf has also received pre-subscription commitments totalling approximately £87,000 regarding the Open Offer and Additional Subscription from certain members of the Board and senior management. (approximately SEK 45.3 million) of the SDR Rights Issue. The New SDRs to be offered with preferential rights to Qualifying SDR Holders and without preferential rights to investors and the general public in Sweden will represent up to the entirety of the Custodian's Open Offer Entitlements.īeowulf has received underwriting commitments from certain Nordic investors for up to 80 per cent. New SDRs in the SDR Rights Issue will also be offered for subscription without preferential rights to institutional investors, other professional investors and the general public in Sweden. In order to ensure that existing holders of Swedish Depository Receipts ("SDRs") are able to participate in the Open Offer in respect of the underlying Ordinary Shares represented by the SDRs, the Board will instruct Sedermera Fondkommission as issuing agent in the Swedish market to offer the underlying Ordinary Shares' entitlements to accept the Open Offer to Qualifying SDR Holders in Sweden for subscription by way of a rights issue of new SDRs with preferential rights of up to approximately SEK 56.7 million (gross) (the "SDR Rights Issue") at a price of SEK 0.370 per New SDR (the "SDR Offer Price"). The Company will also receive a further conditional subscription of 88,800 new Ordinary Shares to raise £2,806 (the "Additional Subscription"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.īeowulf launches a partially secured capital raising of up to approximately £7.3 million (approximately SEK 83 million) to advance the Company's asset portfolioīeowulf (AIM: BEM Spotlight: BEO) announces that it will conduct an open offer of up to 225,841,752 new Ordinary Shares to Qualifying Shareholders at 3.16 pence per Share (the "Offer Price") on a pre-emptive basis to raise up to approximately £7.3 million (gross) (the "Open Offer"). ![]() The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS NEWSWIRE SERVICES OR FOR PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, SINGAPORE, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
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