Oriole Resources plc said it had conditionally raised £1.77 million before expenses, comprising £1.75m in an oversubscribed placing and £20,000 as director subscriptions.
The fundraise was through issuing a total of 416,470,880 new ordinary shares, of which 4,705,881 was for the directors, at a price of 0.425 pence per share.
The proceeds from the placing announced today will primarily be used to support ongoing exploration at the company’s projects in Cameroon and general working capital.
DIRECTOR SUBSCRIPTIONS
The following directors have subscribed for shares:
| Name | No. of Existing Ordinary Shares | No. of Subscription Shares | Number of Ordinary Shares held post Admission | Percentage of enlarged issued share capital following Admission | Total Option holdings post Admission |
| David Pelham(1) | 948,105 | 705,882 | 1,653,987 | 0.08% | 3,290,446 |
| Tim Livesey (2) | 10,382,662 | 1,176,470 | 11,559,132 | 0.58% | 35,979,940 |
| Robert Smeeton (3) | 5,778,209 | 2,352,941 | 8,131,150 | 0.41% | 28,383,952 |
| Claire Bay (4) | 294,804 | 470,588 | 765,392 | 0.04% | 6,830,000 |
(1) David Pelham is beneficially interested in 948,105 ordinary shares held by Hargreaves Lansdown Nominees Ltd.
(2) Tim Livesey is beneficially interested in 10,382,662 ordinary shares held by Hargreaves Lansdown Nominees Ltd.
(3) Robert Smeeton is beneficially interested in 5,778,209 ordinary shares held by Hargreaves Lansdown Nominees Ltd.
(4) Claire Bay is beneficially interested in 94,840 ordinary shares held by Halifax Share Dealing.