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LONDON - Chesterfield Resources plc (LSE:CHF), a company in the mining sector, has announced the successful raise of £130,000 through the placement and subscription of 26 million new Ordinary Shares priced at 0.5 pence each. The shares are to be listed on the London Stock Exchange (LON:LSEG)’s main market following their admission, which is anticipated to occur around June 2, 2025.
The newly issued shares will constitute 20% of Chesterfield’s issued share capital prior to the placement. The company’s total issued share capital, post-admission, will stand at 156,328,311 Ordinary Shares, all with voting rights and none held in treasury. This figure is relevant for shareholders regarding the disclosure of changes in their holdings as per the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The proceeds from this equity issue are earmarked for the evaluation and execution of new opportunities and for working capital purposes. Peterhouse Capital Limited has acted as the sole broker for this placement.
Kashif Afzal, Executive Chairman of Chesterfield, expressed optimism about the company’s prospects, stating that this first capital raise in over three years is set to fund the development of promising new opportunities for the company. He also mentioned that, in addition to the raised funds, the future sale of the company’s shares in Sterling Metals (TSXV:SAG) will contribute to the evaluation and execution of these prospects.
The announcement is made in compliance with market abuse regulations, ensuring that the inside information is now public following this release.
This news is based on a press release statement from Chesterfield Resources plc.
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