Glencar announces placing of 18m shares

Mining company Glencar has announced the conditional placing of 18,002,000 new ordinary shares of nominal value €0.031 in the capital of the company at STG£0.07 per share, equating to approximately 8.69% of the existing issued share capital of the company and raising in aggregate £1.26m (€1.8m) before expenses.

The new shares will, when issued and fully paid, rank with the existing issued ordinary shares. The placing is only conditional on the new shares being admitted to trading on AIM.