Investor Scrimshaw Nominees also gets 37.5 million five-year options
By Devika Patel
Knoxville, Tenn., Dec. 16 - Sirius Minerals plc said it settled a private placement of shares. It raised £1.3 million.
The company sold 12.5 million ordinary shares at 10.4p apiece and 37.5 million five-year options to Scrimshaw Nominees Pty Ltd. The price per share is a 16.8% discount to the Dec. 15 closing share price, 12.5p.
Of the options, 12.5 million will be exercisable at 25p, 12.5 million will be exercisable at 35p and 12.5 million will be exercisable at 45p. The strike prices are 100%, 180% and 260% premiums to the Dec. 15 closing share price.
Proceeds will be used for general working capital.
Sirius is a potash mining group based in Berkeley, England.
| Issuer: | Sirius Minerals plc
|
| Issue: | Ordinary shares
|
| Amount: | £1.3 million
|
| Shares: | 12.5 million
|
| Price: | 10.4p
|
| Options: | 37.5 million
|
| Option expiration: | Five years
|
| Option strike price: | 25p (for 12.5 million options), 35p (for 12.5 million options), 45p (for 12.5 million options)
|
| Investor: | Scrimshaw Nominees Pty Ltd.
|
| Settlement date: | Dec. 16
|
| Stock symbol: | London: SXX
|
| Stock price: | 12.5p at close Dec. 16
|
| Market capitalization: | £51.4 million
|
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