Oriole Resources plc has raised £195,500 via a subscription by its non-executive chair Eileen Carr.
A total of 115,000,000 new ordinary shares will be issued at 0.17 pence per share, equal to the the mid-price of the company’s ordinary shares at close of market on 19 April 2023.
Following the shares issue, Ms Carr will hold 151,411,564 shares, representing 5.33% of the issued ordinary share capital of the company, and a total of 11,111,111 warrants.
She is also beneficially interested in a total of approximately 155 million shares via Hargreaves Lansdown Nominees Ltd and AJ Bell Securities Ltd.
Following admission of the subscription shares, Oriole’s directors will collectively hold approximately 8.10% of the issued share capital of the company.
On admission, the company’s issued share capital will be 2,841,066,861 ordinary shares.
USES
Oriole said that the subscription’s proceeds will be primarily used for working capital to enable the company to develop funding opportunities and joint ventures for its projects in Cameroon.
One Reply to “Oriole raises £195,000 via chair subscription”
Comments are closed.