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Placing of New Shares

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RNS Number : 4121J
Highlands Natural Resources PLC
19 August 2019
 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

19 August 2019

 

Highlands Natural Resources plc

("Highlands" or the "Company")

 

Placing of New Shares

 

Highlands, the London listed natural resources and vertically integrated CBD company, is pleased to announce that it has raised a total of £354,000 through a placing of 5,130,433 new ordinary shares at a price of 6.9 pence per share with a group of high net worth individuals. 

 

The placing has been conducted at the closing offer price for Highlands shares on 16 August 2019.  The proceeds of the placing will be applied primarily to accelerate the marketing and development of Zoetic's products in both the US and UK.

 

Pursuant to the placing, Highlands intends to issue 256,521 new ordinary shares to Optiva Securities Ltd in satisfaction of its fee for placing the shares with the new investors.  Application will therefore be made for an additional 5,386,954 ordinary shares in the Company to be admitted to trading on the Official List of the UK Listing Authority by way of a Standard Listing and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). Admission is expected to take place on 27 August 2019. 

 

Following Admission, the New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of 1 pence each in issue, including the right to receive all dividends and other distributions declared, and the total number of ordinary shares in Highlands with voting rights will be 147,870,034. This figure may be used by Highlands shareholders as the denominator for calculations to determine if they have a notifiable interest in Highlands under the Disclosure and Transparency Rules, or if such interest has changed.

 

Robert Price, Executive Chairman and CEO of Highlands, said: "We are delighted to welcome our new shareholders to Highlands. Whilst the Company had no immediate funding requirement, we were keen to accept the investment of these influential people, who approached Highlands following the achievements we have made in our CBD business, which they found highly attractive. Their experience and connections may be invaluable to us as we further develop Zoetic.  The new funds will be utilised immediately in expanding our manufacturing capabilities and further developing awareness of the Zoetic brand."

 

 

 

**ENDS**

 

Enquiries

 

Highlands Natural Resources plc                                                                                +1 (0) 303 322 1066

Robert Price

Nick Tulloch

 

Optiva Securities Ltd                                                                                                     +44 (0) 20 3137 1902        

Graeme Dickson

               

Cantor Fitzgerald Europe                                                                                            +44 (0) 20 7894 7000        

David Porter      

                               

Newgate Communications                                                                                         +44 (0) 20 3757 6880

Elisabeth Cowell

Ian Silvera          

Fiona Norman  

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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