News Column

Regency Mines Plc - Placement of Shares

August 13, 2014



ENP Newswire - 13 August 2014

Release date- 12082014 - Regency Mines is pleased to announce that it has raised GBP327,100 by way of a placing of 116,821,500 new ordinary shares and convertible placing shares of 0.1 pence each in the Company with institutional and private investors, at a price of GBP0.0028 per Share.

The proceeds of the Placing will be applied to oil and gas exploration at the Horse Hill well in Surrey, and for working capital purposes.

The Shares will be issued in two tranches, with the first tranche comprising 60,500,063 Shares, and the second tranche of 56,321,437 Shares being issued conditional on shareholder approval being obtained for the issue of those Shares at a General Meeting which is expected to be held on or around 29 August 2014.

Notice of the General Meeting will be sent to the Company's shareholders shortly. Of the first tranche, 47,607,188 Shares will be Shares arising from the conversion of 47,607,188 Convertible Placing Shares of the Company.

Application has been made to the London Stock Exchange for the first tranche of new Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 19thAugust 2014.

Following the Placing, the Company's total issued ordinary share capital will consist of 1,592,224,234 Ordinary Shares with voting rights. No Ordinary Shares are held in treasury.

The above figure of 1,592,224,234 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

Chairman Andrew Bell states: 'The market has been expecting a placing of shares to fund our investment in the Horse Hill-1 well in Surrey which is expected to spud shortly. We felt that this expectation was holding us back and that it was best to eliminate any uncertainty by funding now. Our holdings in Ram Resources in Australia and in Alba Mineral Resources plc continue to perform well and are potential additional sources of further liquidity. We will continue to control costs and to negotiate with potential partners in relation to our nickel interests.'

Contact:

Andrew Bell

Chairman

Regency Mines plc

Tel: 0207 747 9990, 0776 647 4849

Colin Aaronson

David Hignell

Grant Thornton UK LLP

Tel: 0207383 5100

Neil Badger

Dowgate Capital Stockbrokers Limited

Tel: 01293 517744

Rupert Trefgarne

Media Relations

MHP Communications

Tel: 02031288817


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Source: ENP Newswire


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