A.C.N. 097 532 137
Suite 6, Ground Floor, South Mill Centre, 9 Bowman St
Share code FCR on the ASX, AIM and the JSE
SOUTH PERTH WA 6151, AUSTRALIAwww.ferrumcrescent.com
PO Box 189, South Perth, WA firstname.lastname@example.org
Tel: +61 8 9474 2995 Fax: +61 9474 2937
25 February 2016
Ferrum Crescent Limited
("Ferrum Crescent", the "Company" or the "Group")(ASX: FCR, AIM: FCR, JSE: FCR)
Fundraising and Notice of General Meeting
Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer,
announces that it has received applications to subscribe for 149,681,797 new
ordinary shares of no par value each in the capital of Ferrum Crescent (the
“Subscription Shares”) at a price of £0.0012 per Subscription Share, to raise
£179,618 before expenses (the “Subscription”). The Subscription was
oversubscribed and closed on Wednesday, 24 February 2016. The Subscription
Shares will represent approximately 19.36 per cent. of the Company’s enlarged
issued share capital and the Subscription is conditional on admission of the
Subscription Shares to trading on AIM (“Admission”).
Application will be made for quotation of the Subscription Shares on the
Australian Securities Exchange and the JSE Limited, and to the London Stock
Exchange plc for Admission. It is expected that Admission of the Subscription
Shares will become effective and that dealings in the Subscription Shares will
commence on AIM at 8.00 a.m. on 1 March 2016. The Subscription Shares will
be fully paid and will rank
in all respects with the Company’s existing
ordinary shares. Following Admission, the total issued ordinary share capital of
the Company will comprise 772,985,191 ordinary shares.
Pursuant to the Subscription, Grassroots Exploration Pty Limited (“Grassroots
Exploration”) (a company controlled by Mr Alan Jenks), is investing
approximately £5,300 for 4,416,667 new ordinary shares. This additional
investment will result in Grassroots Exploration being interested, in aggregate,
in 92,987,053 ordinary shares, representing approximately 12.03 per cent. of
the Company’s enlarged issued ordinary share capital.
By virtue of Grassroots Exploration being an existing substantial shareholder in
the Company, its participation in the Subscription is considered to be a related
party transaction for the purposes of Rule 13 of the AIM Rules for Companies.
Accordingly, the directors of Ferrum Crescent consider, having consulted with
Strand Hanson Limited (the Company’s Nominated Adviser), that the terms of
Grassroots Exploration’s participation in the Subscription are fair and
reasonable insofar as the Company’s shareholders are concerned.