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Stratex International Plc, the AIM-quoted exploration and development company focussed on gold and base metals in Turkey and East Africa, announced that AngloGold Ashanti Ltd and Thani Ashanti, an AngloGold joint venture company, have subscribed for additional shares in the Company in order to maintain their equity stakes following the private placement by Antofagasta plc on 26 September 2011.
AngloGold has subscribed for 1,550,000 Stratex Ordinary shares at 7.72p raising £119,660. This increases their holding in the Company to 40,410,104 ordinary shares and maintains their percentage shareholding at 11.5%. Thani has subscribed for 1,200,000 Stratex Ordinary shares at 7.72p raising £92,640. This increases their holding in the Company to 7,723,669 ordinary shares and maintains their percentage shareholding at 2.2%. Stratex Chief Executive Bob Foster said, "We are delighted that AngloGold and Thani have decided to support their investment in Stratex and maintain their equity stake. This demonstrates their commitment to Stratex as well as their belief in our management team and business strategy as we advance our portfolio of gold and base metal assets in Turkey and East Africa through the development cycle." Further Information Under the terms of the original subscription agreements with both parties, AngloGold and Thani may participate in future fund raisings in order to maintain their equity stake. Such additional shares are to be issued at the same price as the future fund raising. In this case the subscriptions are in response to the private placement by Antofagasta on 26 September 2011, which was executed at a price of 7.72p. This price represents a premium of 15% to the current mid market price. Application for the shares to be admitted to trading on AIM has been made and the shares are expected to be admitted on 25 October 2011. Following the issue of the shares, the total number of ordinary shares of 1p in the capital of the Company will be 350,897,232. This number may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency rules. Under the AIM rules, the subscription by AngloGold constitutes an AIM Rule 13 related party transaction. The directors consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned. More information, click here. |
