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
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
SYS-CON Events announced today that 24Notion has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. 24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to con...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
The initial debate is over: Any enterprise with a serious commitment to IT is migrating to the cloud. But things are not so simple. There is a complex mix of on-premises, colocated, and public-cloud deployments. In this power panel at 18th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will look at the present state of cloud from the C-level view, and how great companies and rock star executives can use cloud computing to meet their most ambitious and disruptive business ...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT's direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, will explore the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences betwee...
SYS-CON Events announced today BZ Media LLC has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and Commercial Drone markets.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...