News Column

Coburg Plans Share Placing As It Continues Investment Trail

May 8, 2014

Anthony Tshibangu

LONDON (Alliance News) - Coburg Group PLC Thursday said it is currently reviewing a number of investment opportunities including gold exploration projects in East and West Africa and intends to arrange a placing of new shares to raise additional funds.

The company, which invests in natural resource companies said it expects to price its shares at 65 pence per share to raise around GBP200,000, this would equate to more than 300,000 Coburg shares. The company currently has 412,909 shares. Coburg was quoted at 70.00 pence Thursday afternoon, down 7.50 pence or 9.7%.

Following the proposed placing it is expected that Chris Ellis will be appointed Chairman. Ellis expects to take up 85,000 shares in the placing.

Coburg said it expects further changes to the board shortly to ensure that the company has the "requisite skills" in the natural resources sector.

Shares in Coburg were trading 9.68% lower at 70.00 pence per share Thursday afternoon.

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Source: Alliance News

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