LONDON - Great Western Mining Corporation PLC (AIM:GWMO), a mineral exploration and development company, has announced a new offer for its existing retail shareholders to purchase new ordinary shares. The offer is conducted via CMC CapX and is available exclusively to UK-based shareholders who are also customers of participating financial intermediaries.
The retail offer, which opened at 7 a.m. on Monday, is set to close by 5 p.m. on Wednesday. The company has stated that the offer might close earlier, and financial intermediaries may have different closing times. The new ordinary shares, priced at 0.0165 per share, will be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG) with expected admission at 8 a.m. on December 3, 2024.
This opportunity is part of a broader fundraising initiative that includes a separate placing of new ordinary shares, referred to as the "Fundraising Shares." The completion of the retail offer is contingent upon the successful completion of the placing. The company has expressed its appreciation for its retail shareholder base and has initiated this offer to allow them to participate in the company's growth.
To be eligible for the retail offer, shareholders must have been holders of the company's shares prior to the announcement and must reside in the United Kingdom (TADAWUL:4280). A minimum subscription of £250 per investor is set, with the terms and conditions, including any commission or fee charges, to be provided by the relevant financial intermediaries.
The retail offer shares will rank equally in all respects with the existing ordinary shares, including the right to receive dividends and other distributions declared after their issue date. It is important to note that once an application for shares has been made and accepted, it becomes irrevocable.
Great Western Mining has highlighted that the retail offer shares are exempt from the requirement to issue a prospectus under the EUWA, with the total consideration for the shares not to exceed £45,000. This exemption applies due to the aggregate total consideration payable for the retail offer shares.
The company cautions that an investment in the shares carries risks and the value of investments can go down as well as up. Potential investors are advised to seek independent advice if they are in any doubt about the investment.
This announcement, based on a press release statement, serves as an informational update and does not constitute an offer to sell or a solicitation to buy any securities in the United States or any other jurisdiction where such an offer would be unlawful.
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