Wrap Text
Placing To Raise Approximately GBP225,521 Gross
FERRUM CRESCENT LIMITED
(Incorporated and registered in Australia and registered as an external company in the
Republic of South Africa)
(Registration number A.C.N. 097 532 137)
(External company registration number 2011/116305/10)
Share code on the ASX: FCR
Share code on AIM: FCR
Share code on the JSE: FCR
Australian ISIN: AU000000WRL8
South African ISIN: AU000000FCR2
9 June 2017
Ferrum Crescent Limited
(“FCR”, the “Company” or the “Group”) (ASX, AIM, JSE: FCR)
Placing to raise approximately £225,521 gross
FCR, the European lead-zinc explorer, announces that it has conditionally raised
approximately £225,521 before expenses, through a placement via Beaufort
Securities Limited (“Beaufort Securities”) as agent of the Company, of 322,173,789
new ordinary shares of no par value each in the capital of the Company (the “Placing
Shares”) at a price of 0.07 pence per new ordinary share (the “Placing”).
The Placing is conditional on admission of the Placing Shares to trading on AIM
(“Admission”). Following Admission, the Placing Shares will represent, in aggregate,
approximately 13.04 per cent. of the Company’s enlarged issued ordinary share
capital. The issue of the Placing Shares falls within the Company’s existing
placement capacity under ASX Listing Rule 7.1, such that specific shareholder
approval is not required.
Use of Proceeds
The Company intends to utilise the net proceeds from the Placing to support its
ongoing lead-zinc exploration programme in North West Spain. As announced
recently, a near-surface drilling programme is currently underway at the Company’s
wholly owned Toral project in the province of Leon with initial drilling results expected
to be received in the short term.
Application to trading
Application will be made for quotation of the Placing Shares on the Australian
Securities Exchange and the JSE Limited, and to the London Stock Exchange plc for
Admission. It is expected that Admission will become effective and that dealings in
the Placing Shares will commence on AIM at 8.00 a.m. on 23 June 2017. The
Placing Shares will be fully paid and will rank pari passu in all respects with the
Company's existing ordinary shares.
Following Admission, the total issued ordinary share capital of the Company will
comprise 2,469,999,055 ordinary shares.
The Placing Shares have been conditionally placed by Beaufort Securities, as agent
of the Company, with certain investors pursuant to a placing agreement (the “Placing
Agreement”). Under the terms of the Placing Agreement, Beaufort Securities will
receive commission from the Company conditional on Admission of the Placing
Shares and the Company will give customary warranties and undertakings to
Beaufort Securities in relation, inter alia, to its business and the performance of its
duties. In addition, the Company had agreed to indemnify Beaufort Securities in
relation to certain liabilities that it may incur in undertaking the Placing. Beaufort
Securities has the right to terminate the Placing Agreement in certain circumstances
prior to Admission, in particular in the event that there has been, inter alia, a material
breach of any warranties. The Placing is not being underwritten.
Commenting today, Justin Tooth, Executive Chairman of FCR, said:
“With our maiden near surface drilling programme now underway at our promising
Toral lead-zinc project in North West Spain, today’s small fundraising will augment
our working capital position ahead of receiving our first exploration results.
“The Company’s strategy remains to focus on cost-effectively defining economically-
attractive lead-zinc assets in Europe, to add value by expanding our knowledge of
the mineralisation, to establish JORC Code compliant resource estimates and to
undertake relevant metallurgical analysis, as appropriate. Our initial drill campaign
will enable us to identify if, and where, lead-zinc mineralisation occurs near surface,
above the mineralised areas historically identified by third parties, and to ratify our
new geological theory for this deposit.”
For further information on the Company, please visit www.ferrumcrescent.com or contact:
Ferrum Crescent Limited
Justin Tooth, Executive Chairman
Grant Button, Director and Company Secretary
T: +61 8 9474 2995
UK enquiries:
Laurence Read (UK representative)
T: +44 7557 672 432
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
T: +44 (0)20 7409 3494
Beaufort Securities Limited (Broker)
Elliot Hance
T: +44 (0)20 7382 8300
Bravura Capital (Pty) Ltd (JSE Sponsor)
Melanie De Nysschen
T (direct): +27 11 459 5037
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014.
Date: 09/06/2017 01:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
