Richland Resources Ltd shares tumble more than 25% on equity dilution

  • Jan 13, 2020 GMT
  • Team Kalkine
  • As on January 13, 2020, the group communicated regarding aggregate fundraising of approximately £150,000 (before expenses) through placing of 105,000,000 new common shares of the company. The transaction exercised at approximately 5% discount to the closing price of a Common Share of GBX 0.105/- share on January 09, 2020, which was used to set the Issue Price and a discount of approximately 31% to the closing middle market price of a Common Share of GBX 0.145/- on 10 January 2020.
  • The transaction has dragged its stock price at the London Stock Exchange, and it traded approximately 28% lower at GXB 0.10, at the time of writing at 03:10 PM GMT.

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