J.P. Morgan Sec PLC - Proposed placing in Hochschild Mining plc
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PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
Proposed secondary placing of shares in Hochschild Mining plc
Pelham Investment Corporation (the "Seller") announces today its intention to sell approximately 62 million ordinary shares of Hochschild Mining plc (the "Company") (the "Placing Shares"), representing approximately 12 per cent. of the Company's existing issued ordinary share capital, through a placing to institutional investors (the "Placing"). The Seller is a company owned by Mr
The Placing Shares will be offered to institutional investors (the "Placees") through an accelerated bookbuild to be carried out by J.P. Morgan Securities plc (which conducts its
The sale is subject to demand, price and market conditions, and, in particular, the number of Placing Shares may be changed. The identity of Placees and the basis of the allocations are at the discretion of the Seller and J.P. Morgan Cazenove. The price at which the Placing Shares are to be placed and the final number of Placing Shares will be agreed by the Seller and J.P. Morgan Cazenove at the close of the bookbuilding process. The details will be announced as soon as practicable after the close of the bookbuilding process.
The Company will not receive any proceeds from the Placing.
J.P. Morgan Cazenove +44 207 742 4000
This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
This announcement is not for publication or distribution or release, directly or indirectly, in or into
This announcement does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in
In member states of the European Economic Area ("EEA"), this announcement and any offer of Placing Shares if made subsequently is directed exclusively at persons who are "qualified investors" within the meaning of the Prospectus Regulation ("Qualified Investors"). For these purposes, the expression "Prospectus Regulation" means Regulation (EU) 2017/1129. In the
No prospectus or offering document has been or will be prepared in connection with the Placing. Any investment decision in connection with the Placing must be made on the basis of all publicly available information relating to Company and its shares. Such information has not been independently verified and the Seller and J.P. Morgan Cazenove are not responsible, and expressly disclaim any liability, for such information. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.
In connection with the Placing, J.P. Morgan Cazenove or any of its affiliates may take up a portion of the Placing Shares as a principal position and in that capacity may retain, purchase, sell or offer to sell for its own account such Placing Shares and other securities of the Company or related investments in connection with the Placing or otherwise. Accordingly, references to the Placing Shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by J.P. Morgan Cazenove and any of its affiliates acting as investors for their own accounts. J.P. Morgan Cazenove does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.
This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with an investment in Hochschild Mining or its shares.
This announcement does not constitute a recommendation concerning the Placing. The price and value of securities and any income from them can go down as well as up. Past performance is not a guide to future performance. Acquiring Placing Shares to which this announcement relates may expose an investor to a significant risk of losing all of the amount invested. Potential investors should consult a professional advisor as to the suitability of the Placing for the entity or person concerned. This announcement does not represent the announcement of a definitive agreement to proceed with the Placing and, accordingly, there can be no certainty that the Placing will proceed. The Seller reserves the right not to proceed with the Placing or to vary the terms of the offering in any way.
J.P. Morgan Cazenove is authorised by the Prudential Regulatory Authority ("PRA") and regulated by the Financial Conduct Authority and the PRA. J.P. Morgan Cazenove is acting for the Seller only in connection with the Placing and no one else, and will not be responsible to anyone other than the Seller for providing the protections offered to its clients nor for providing advice in relation to the Placing Shares or the Placing, the contents of this announcement or any transaction, arrangement or other matter referred to in this announcement.
This announcement includes statements that are, or may be deemed to be, forward-looking statements. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "intends", "expects", "will", or "may", or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts and include statements regarding intentions, beliefs or current expectations. No assurances can be given that the forward-looking statements in this announcement will be realised. As a result, no undue reliance should be placed on these forward-looking statements as a prediction of actual events or otherwise.
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