Delta Minerals share issue was subscribed by 706 %
(This is a translation of the Swedish press release of 17 December 2015. If any differences the Swedish one is valid)
Delta Minerals share issue was finished on 9 December and was signed to 706 %. The Board decided on an over-subscription of additional 2 MSEK. The company were added a total of 5.2 MSEK.
Delta Minerals AB has completed the rights issue with preferential rights for existing shareholders as the Board decided on November 5 with the support of the authorization from the extraordinary general meeting on 14 October 2015. The issue was oversubscribed and brings to the company about 3.2 MSEK before issue costs.
The rights issue was subscribed to about 92 per cent of subscription rights and the remaining part, the equivalent of about 615 percent, without subscription rights. Through the rights issue added to Delta Minerals around 3.2 MSEK before issue costs are estimated to amount to approximately TSEK 600.
Shares subscribed without subscription rights have been allocated in accordance with the terms of the memorandum dated 19 November 2015. Notice of assignment is done by contract note emitted to the respective subscriber. Trade with the paid subscription shares (BTA) is going on until the issue has been registered by the Swedish Companies’ Registration Office.
Through the rights issue shares and issued 24 844 720 share capital will increase by SEK 571 428.56. Taken together, these measures imply that the share capital of the company after the rights issue will be at the rate of 2 571 428.543 SEK, divided into 111 801 241 shares, each with a quota value of 0.023 SEK.
In addition to this, the Board has decided on an over-subscription about 2 million. This over-subscription has increased the number of shares with 15 384 615 shares and share capital will increase by SEK 353 846.145.
Through this, two issues are added to Delta Minerals about 5.2 MSEK before issue costs are estimated to amount to approx. 600 SEK. Taken together, these measures imply that the share capital of the company after issuance will amount to 2 925 274,688 SEK shared by 127 185 856 shares, each with a quota value of SEK 0.023.
The Board is grateful for the very great interest that has widely exceed the expected amount. The Board is considering how to benefit from this interest to accelerate the company's long-term development which had previously been informed during the autumn.
The company is developing well and according to plan.
For further information, please contact
Hakan Gustafsson, Chairman of the Board, hakan.gustafsson@deltaminerals.se, mobile + 46-70 268 00 35.
Thomas Lundgren, CEO, thomas.lundgren@deltaminerals.se, mobile + 46-70 397 25 24.
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Facts about the company
Delta Minerals AB is a Swedish public company listed on the stock market with the right to carry out environmental projects in the Philippines with the support of regional/local authorities. The company's goal is to begin operations in estuaries of Northwestern Philippines for the extraction of minerals and sand.