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LONDON - Greenstone Resources II LP and Fratelli Investments Limited, significant shareholders in Serabi Gold plc, have announced their intention to sell approximately 20.7% of the company’s issued share capital. The sale will consist of up to 15,689,395 ordinary shares, referred to as the Placing Shares, through an accelerated bookbuilding process targeting eligible institutional investors.
The Placing Shares include the entirety of Greenstone’s stake, comprising 3,936,492 ordinary shares, and 11,752,903 shares from Fratelli. Post-transaction, Fratelli is expected to retain a 10% interest in Serabi, which amounts to 7,565,882 ordinary shares.
The bookbuilding process for determining the price per Placing Share began immediately following the announcement and may close at any time on short notice. The results of the Placing will be disclosed promptly after the bookbuilding process concludes.
Peel Hunt LLP and Tamesis Partners LLP have been appointed as Joint Bookrunners to manage the Placing. It is important to note that Serabi Gold plc is not a participant in the Placing and will not receive any proceeds from it.
Additionally, any unsold ordinary shares held by the Sellers after the Placing will be subject to a 60-day lock-up period, with standard exceptions.
This announcement is not an offer of securities in the United States, Canada, Japan, or any other jurisdiction where such offers are prohibited by law. The Placing Shares are not registered under the U.S. Securities Act of 1933 and cannot be sold in the United States without registration or an exemption from registration requirements.
The news of this Placing comes with several restrictions and legal notices, particularly regarding the distribution and sale of the Placing Shares in various jurisdictions, including the United States, Canada, Japan, the European Economic Area, the United Kingdom (TADAWUL:4280), Australia, and Singapore.
Investors should make their decisions based on publicly available information regarding Serabi and its shares, which has not been independently verified. The information in this announcement is for background purposes and is not exhaustive.
The announcement stresses that the Placing is intended for "qualified investors" and that certain residency and status requirements must be met for those investing from Australia and Singapore.
This article is based on a press release statement from Peel Hunt LLP and Tamesis Partners LLP, and it aims to provide a summary of the key facts surrounding the proposed placing by stakeholders in Serabi Gold plc.
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