logo-loader
FinanceInvestments and investor services
GLOBAL RESOURCES INVESTMENT TRUST PLC ORD GBP0.01

Global Resources Investment Trust to raise cash

The company plans to raise funds and change its name to Global Resources International

bank-17816_1280.jpg
The shares are to be issued at 2p a go

Global Resources Investment Trust (LON:GRIT) has announced plans to raise cash through a subscription and open offer.

Prime Star Energy, a company based in the United Arab Emirates, has agreed to subscribe for up to 195mln new ordinary shares at 2p a share while privately owned RDP Fund Management has agreed to take 75mln shares at the same price.

In addition, Primestar is to be granted 50mln warrants to subscribe for shares at an exercise price of 4p.

In conjunction with the share subscription, GRIT is planning an open offer of up to 15mln shares at 2p a share and a further placing of up to 15mln shares to Primestar, also at tuppence a throw.

GRIT said the share issues may be scaled back to ensure sufficient ordinary shares are in public hands in accordance with the listing rules.

Quick facts: GLOBAL RESOURCES INVESTMENT TRUST PLC ORD GBP0.01

Price: £0.02

Market: LSE
Market Cap: £671.43 k
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Brickability Group PLC looks to raise £57mln as it lists in London

Brickability Group PLC's chairman John Richards chats to Proactive's Andrew Scott ahead of the firm's listing next week in London. It plans to raise £57mln as part of the initial public offering, valuing it at around £150mln. The Bridgend-based company, which counts Redrow plc (LON:RRW)...

11 hours, 50 minutes ago

2 min read