https://www.miningweekly.com

DiamondCorp raises £5m in oversubscribed offer

DiamondCorp raises £5m in oversubscribed offer

Photo by Bloomberg

6th July 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Dual-listed DiamondCorp on Monday said its oversubscribed open offer had raised £5.27-million.

The Southern Africa-focused diamond development, exploration and mining company last month issued an open offer for nearly 21-million new ordinary shares to eligible shareholders at 10p apiece.

Eligible shareholders in respect of their basic entitlements, in aggregate, opted for 13.4-million shares – or 64% of the open offer shares available – with 7.5-million shares available to the excess application facility.

DiamondCorp chairperson Euan Worthington said valid applications from eligible shareholders pursuant to the excess application facility had been received for 36.8-million excess shares – 4.9 times the excess shares available.

Eligible shareholders were set to receive about 20.4% of their application under the excess application facility.

“The board is very pleased at the high level of oversubscription for the open offer and that the majority of shareholders have been able to participate on the same terms as the recent placing to institutions,” Worthington commented.

The company expected the admission of the 20.9-million new shares to become effective July 7, leaving the company with a total of 376-million shares in issue.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.129 0.163s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: