CORCEL PLC — Share Issue/Capital Change 2013

Feb 20, 2013

National Storage Mechanism | Additional information

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RNS Number : 3081Y

Regency Mines PLC

20 February 2013

Regency Mines Plc

("Regency" or the "Company")

Issue of Equity

20 February 2013

Regency Mines plc announces that pursuant to a Special Advance (the "Special Advance") entered into by the Company under the Standby Equity Distribution Agreement announced on 20 June 2011, the Company has issued 64,224,489 new ordinary shares of 0.1p each (the "Shares") at a price of 0.735 of a penny per Share to YA Global Master SPV ("YA Global") to raise £472,050 (the "Issue"). 

The proceeds of £472,050 from the Issue will be applied towards on-going exploration efforts in Sudan, Fraser-West planning activities, and a resumption of Value Engineering studies at Mambare. 

Pursuant to the Special Advance, a fee £47,205 will be payable by the Company to YA Global in the form as follows: 6,422,448 Shares at a price of 0.735 of a penny ("the Fee").  Following the Issue and the Fees YA Global will hold 8.46% of the expanded share capital of the Company.   

Company Chairman Andrew Bell comments:

"The Company has taken the opportunity to strengthen its balance sheet in uncertain market conditions while it works on developments on the corporate front."  

Following the issuance of the 70,646,937 new Shares, being the Issue and the Fees, the Company's total issued ordinary share capital will be 1,012,399,606 ordinary shares of 0.1p.

Application has been made to the London Stock Exchange for the new Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM.  Dealings are expected to commence at 8.00 a.m. on or around 26 February 2013. 

For further information contact:

Andrew Bell020 7402 4580 or 07766 474849                    Chairman Regency Mines plc

Sandra Spencer 020 7402 4580 or 07757 660 798            Investor Relations Regency Mines plc

Gerry Beaney / Daniela Amihood 020 7383 5100           NOMAD Grant Thornton Corp Finance

Nick Emerson 01483 413500                                             Broker Simple Investments Ltd

This information is provided by RNS

The company news service from the London Stock Exchange

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