Home » News » FTSE 250 » Sirius Minerals Plc Completion of Cibra investment and share issue
Sirius Minerals Plc

Sirius Minerals Plc Completion of Cibra investment and share issue

Further to the announcement on 17 September 2018, Sirius Minerals Plc (LON:SXX) today announced the completion of the acquisition of a 30 per cent equity interest in each of the Cibra Group Companies for 95,000,000 fully paid ordinary shares in Sirius (the “Strategic Investment”). As previously announced, the Strategic Investment is linked to a supply agreement with the Cibra Group Companies for the supply and resale of POLY4 into Brazil and certain other countries in South America. As part of the Strategic Investment shareholder arrangements, Sirius has elected to appoint Chris Fraser to the board of both Cibra Group Companies with immediate effect.

An application has been made for 95,000,000 ordinary shares in the Company to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority  and to trading on the London Stock Exchange plc’s main market for listed securities, and dealings are expected to commence at 8.00 am on 27 November 2018. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company. The Relevant Shares are subject to a lock up period of 12 months.

In accordance with the requirements of the FCA’s Disclosure Guidance and Transparency Rules 5.6.1AR and 5.6.2G, Sirius Minerals confirms that the enlarged share capital of the Company following Admission on 27 November 2018 will be 4,797,057,259 Ordinary Shares in aggregate, each with equal voting rights. No shares are held in treasury. The above figure may be used by shareholders (and others with notification obligations) 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, Sirius Minerals Plc under the FCA’s Disclosure Guidance and Transparency Rules.

Follow this article (for updates)
X

Follow this article (for updates)

E-mail : *
* Your personal data will be used to support your experience throughout this website and for other purposes described in our Privacy Policy. I hereby agree and consent to the privacy policy.