- Artemis Resources (ARV) has received firm commitments to raise £5.0 million (A$9.5 million) to gain a dual listing on the AIM in London
- About 133 million shares will be placed at a price of 3.75 pence (A$0.071), representing zero discount to the last traded ASX price.
- The company will retain its primary listing on the ASX with the dual listing aimed to provide UK and European investors an efficient platform to buy stock
- The first day of trade in London will be February 7 and shares will be placed under the ticker code, ARV
- Shares are trading 2.86 per cent higher today at 7.2 cents each
Artemis Resources (ARV) has received firm commitments from institutional and sophisticated investors to raise £5 million (A$9.5 million) to gain a dual listing on the AIM in London.
About 133 million shares will be placed at a price of 3.75 pence (A$0.071), representing zero discount to the last traded ASX price.
Artemis will have about $12.5 million in cash and liquid stocks to fund its soon to re-start drill programmes at Paterson Central and Greater Carlow. This figure does not include stakes in GreenTech Metals or the proposed Munni Munni divestment to Alien Metals.
The company will retain its primary listing on the ASX with the dual listing aimed to provide UK and European investors an efficient platform to buy stock.
The first day of trade in London will be February 7 and shares will be placed under the ticker code, ARV.
Artemis said further updates on drilling re-starts at Paterson Central and Greater Carlow
are expected in the coming weeks.
Executive Director Alastair Clayton said he expects to see large interest from shareholders in the London market.
“It is an historical quirk that the discovery of what I believe to be one of the most important Australian gold-copper discoveries of the last 25 years at Havieron was made by an AIM listed UK explorer,” he said.
“As such, the enormous stock market interest in this fantastic discovery has been largely
played out on the London Stock Exchange. With a 30% interest in the Havieron JV with Newcrest Mining Limited, Greatland Gold PLC are currently valued at $1 billion.
“By dual listing on AIM we seek to tap into this pool of shareholder interest and understanding to complement our primary ASX listing.”
Shares were trading 2.86 per cent higher today at 7.2 cents each at 3.25 pm AEDT.