Welcome!

News Feed Item

Wishbone Gold Plc ("Wishbone" or the "Company") Result of Placing and Open Offer

LONDON, UNITED KINGDOM -- (Marketwired) -- 04/30/14 -- On 4 April 2014, Wishbone Gold Plc (AIM: WSBN) (PINKSHEETS: WISHY), an exploration and acquisition company focussed on precious metals, announced details of a Placing and Open Offer of up to 32,696,293 New Ordinary Shares at 1.5 pence each to raise approximately GBP 0.5 million (before expenses). The Placing was effected by a conditional placing of shares with Black Swan FZE, a company wholly owned by Black Swan plc, of which Richard Poulden, Chairman of the Company, is a director and a majority shareholder and was subject to clawback, depending on the acceptance levels under the Open Offer.

The Open Offer has now closed in accordance with the terms and conditions as described in the circular posted to Shareholders on 4 April 2014 and the Company confirms that it has received valid acceptances from Qualifying Shareholders and Qualifying DI Holders in respect of 9,335,225 New Ordinary Shares. These acceptances represent 29% of the total maximum Offer Shares available under the Open Offer and approximately 38% of those Offer Shares available to third parties (being the total Shareholder Entitlements, excluding those assigned to Richard Poulden and his connected parties).

In accordance with the terms and conditions of the Open Offer all applications made pursuant to the Open Offer have been accepted and the New Ordinary Shares conditionally placed pursuant to the Placing have been clawed back. Consequently, the total 32,696,293 New Ordinary Shares to be issued pursuant to the Placing and Open Offer comprise 23,361,068 Placing Shares and 9,335,225 Offer Shares.

Wishbone is also delighted to announce that the Global Resources Investment Trust plc (GRIT) have taken part in this Placing and Open Offer. GRIT is a strategic supporter of Wishbone Gold and its management and is a medium to long term holder of 18.7% of Wishbone Gold, post the take up of its entitlement under the offer. David Hutchins of GRIT said "GRIT is delighted to support Wishbone Gold plc and its outstanding management team."

In addition, Black Swan FZE has charged a 3 per cent. fee for acting as underwriter to the issue, satisfied by the issue of 980,888 new Ordinary Shares (being the Commission Shares).

Application was made for a total of 33,677,181 New Ordinary Shares to be admitted to trading on AIM and dealings commenced on 28 April 2014. Following Admission Wishbone's total issued and voting share capital comprises of 262,551,235 Ordinary Shares. This figure 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, securities of the Company.

Following Admission, the interests of the Directors (including the interests of their spouses and infant children and the interests of any person connected with him (within the meaning of sections 252 to 254 of the 2006 Act)) are as follows:


----------------------------------------------------------------------------
                        No. of Ordinary Shares  Percentage of Enlarged Share
                                          held                       Capital
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Richard Poulden(1)                  81,489,875                         31.04
----------------------------------------------------------------------------
George Cardona                       8,609,163                          3.28
----------------------------------------------------------------------------
Jonathan Harrison(2)                 9,820,166                          3.74
----------------------------------------------------------------------------
Michael Mainelli(3)                  1,696,721                          0.65
----------------------------------------------------------------------------
Alan Gravett                         1,196,721                          0.46
----------------------------------------------------------------------------

1.  Richard Poulden holds his Ordinary Shares as follows (and all such
    Ordinary Shares (other than those of Black Swan Plc) are registered in
    the name of Ashton Nominees Inc.):

    a.  2,000,000 Ordinary Shares belong to Richard Poulden's infant
        children;

    b.  55,147,919 Ordinary Shares are held by Black Swan Plc of which
        Richard Poulden is the chairman and controls a majority of the
        shares.

    c.  24,341,956 Ordinary Shares, being the Placing Shares and the
        Commission Shares, are held by Black Swan FZE, a wholly owned
        subsidiary of Black Swan Plc.

2.  Jonathan Harrison holds 5,092, 824 Ordinary Shares in the Company in his
    personal name and 4,737,342 Ordinary Shares in the Company are held
    through EasyBusiness Consulting Ltd.

3.  1,696,721 Ordinary Shares are held by Hawksford Jersey Limited for the
    trustees of the Z/Yen Employee Benefits Trust. Michael Mainelli is a
    director of Z/Yen Group Limited. Z/Yen Group Limited is wholly owned by
    Z/Yen Holdings Limited, which in turn is wholly owned by Z/Yen Contents
    Limited. Michael Mainelli holds 46.6% of the issued ordinary shares and
    35% of the entire issued share capital (which includes some B shares) in
    Z/Yen Contents Limited. Michael's wife, Elisabeth Mainelli, owns 20% of
    the issued ordinary shares and 15% of the entire issued share capital in
    Z/Yen Contents Limited. Together they own 66.6% of the issued ordinary
    shares and 50% of the entire issued share capital in Z/Yen Contents
    Limited.

The capitalised terms in this announcement shall have the same meaning as the definitions in the circular posted to Shareholders on 4 April 2014.

www.wishbonegold.com

Contacts:
Wishbone Gold plc
Richard Poulden
Executive Chairman
+971 504 52 4994

Wishbone Gold plc
Clive Hyman
CFO
+44 20 7382 8372 or +44 78 0263 4163
[email protected]

Wishbone Gold plc
[email protected]
www.wishbonegold.com

Northland Capital Partners Limited
Louis Castro
+44 20 7796 8800

Northland Capital Partners Limited
Lauren Kettle
+44 20 7796 8800

Beaufort Securities Limited
Chris Rourke
+ 44 20 7382 8300

Beaufort Securities Limited
Saif Janjua
+ 44 20 7382 8300

Damson PR
Abigail Stuart-Menteth
+44 7855 526550

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
Updating DevOps to the latest production data slows down your development cycle. Probably it is due to slow, inefficient conventional storage and associated copy data management practices. In his session at @DevOpsSummit at 20th Cloud Expo, Dhiraj Sehgal, in Product and Solution at Tintri, will talk about DevOps and cloud-focused storage to update hundreds of child VMs (different flavors) with updates from a master VM in minutes, saving hours or even days in each development cycle. He will also...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
The financial services market is one of the most data-driven industries in the world, yet it’s bogged down by legacy CPU technologies that simply can’t keep up with the task of querying and visualizing billions of records. In his session at 20th Cloud Expo, Jared Parker, Director of Financial Services at Kinetica, will discuss how the advent of advanced in-database analytics on the GPU makes it possible to run sophisticated data science workloads on the same database that is housing the rich inf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.