SOURCE: Amara Mining plc
March 21, 2014 07:00 ET
LONDON, UNITED KINGDOM--(Marketwired - Mar 21, 2014) - Amara Mining PLC (AIM: AMA) (TSX: AMZ)
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Amara Mining plc
("Amara" or "the Company")
PROPOSED PLACING TO RAISE £18.2 MILLION (US$30.0 MILLION) AND PROPOSED OPEN OFFER OF UP TO £4.2 MILLION (US$6.9 MILLION)
Amara, the AIM listed West African focused gold mining company, is pleased to announce a proposed placing and subscription ("the Placing") of 107,058,823 shares ("the Placing Shares") to raise £18.2 million (approximately US$30.0 million) before expenses and a proposed open offer (the "Open Offer") of 24,468,439 shares ("the Open Offer Shares") to raise up to £4.2 million (approximately US$6.9 million) at a price of 17.0 pence per share (the "Issue Price") for total proceeds of up to £22.3 million (approximately US$36.9 million). The completion of the Placing is conditional upon inter alia the approval of shareholders in a general meeting of the Company (the "General Meeting") and admission of the Placing Shares to trading on AIM. The Placing is not conditional upon the Open Offer.
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