By Josh White
Date: Friday 22 Oct 2021
LONDON (ShareCast) - (Sharecast News) - Ironveld announced a proposed new major investment by Grosvenor Resources on Friday.
The AIM-traded firm said that conditional only on shareholder approval, Grosvenor would invest £5.6m in the company via a subscription for 561,505,950 new ordinary shares in the company.
The two companies said they agreed that Grosvenor would nominate two non-executive Directors to Ironveld's board, following completion of the subscription.
Ironveld said the subscription remained conditional on shareholder approval being granted at a general meeting.
"We are delighted to be able to announce this transaction today, which has taken a great deal of hard work by the teams on both sides over many months," said chief executive officer Martin Eales.
"Ironveld is issuing new equity at a large premium with a supportive new partner.
"Grosvenor is taking a substantial stake in Ironveld and is focused on ensuring near-term development of Ironveld's project for the benefit of all shareholders."
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Currency | UK Pounds |
Share Price | 0.090p |
Change Today | -0.053p |
% Change | -36.84 % |
52 Week High | 0.39 |
52 Week Low | 0.073 |
Volume | 47,589,261 |
Shares Issued | 3,935.00m |
Market Cap | £3.54m |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
14:19 | 5,000,000 @ 0.090p |
14:07 | 566,873 @ 0.083p |
13:53 | 5,000,000 @ 0.090p |
13:50 | 597,371 @ 0.084p |
13:49 | 250,000 @ 0.084p |
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