Contango Holdings to Raise GBP7.5 Mln via Discounted Share Placing

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by Anthony O’Goryinoff

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Contango Holdings plc said on Monday it will raise £7.5 million ($8.7 million) through an oversubscribed discounted placement, and that it will use the proceeds to fund capital expenditures and enable further expansion with respect to coke products and thermal coal. Will do

The London-listed natural resources company said it would hold 125 million new ordinary shares at 6 pence per share, representing a 2.4% discount to Friday’s closing price of 6.15 pence per share.

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The new shares would also include a warrant for every two shares, which could be exercised at 9 pence for the shareholder over the next three years.

Chief Executive Carl Asprey said, “I am pleased to report strong demand for this capital increase, particularly in the context of difficult equity capital market conditions for junior mining companies and we welcome the support of many new shareholders. We do.”


Anthony O. Write to Goriainoff at [email protected]


Credit: www.marketwatch.com /

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