SOURCE: Amara Mining plc

March 21, 2014 07:00 ET

Amara Mining PLC Announces Issue of Equity

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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http://www.rns-pdf.londonstockexchange.com/rns/8674C_1-2014-3-21.pdf

For more information please contact:

   
Amara Mining plc
John McGloin, Chairman
Peter Spivey, Chief Executive Officer
Pete Gardner, Finance Director
Katharine Sutton, Head of Investor Relations
+44 (0)20 7398 1420
Peel Hunt LLP
(Nominated Adviser & Joint Broker)
Matthew Armitt
Ross Allister
+44 (0)20 7418 8900
GMP Securities Europe LLP
(Joint Broker)
Richard Greenfield
David Wargo
+44 (0)20 7647 2800
Bell Pottinger
(Financial Public Relations)
Mark Antelme
Lorna Cobbett
+44 (0)20 7861 3232
 

This information is provided by RNS
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