Kuits advises Ironveld plc on £2.1m AIM placing22 Jun 2017
Manchester commercial law firm Kuits has advised Ironveld plc, an AIM-traded mining company, on a share capital raising that will enable the company to further invest in its project in Limpopo Province, South Africa.
Ironveld has raised gross proceeds of £2.1 million through the issue of 105,000,000 Placing Shares at a price of 2.0p each, which will be used for working capital and the progress the acquisition of a 7.5 MW smelting plant.
Non-Executive Chairman Giles Clarke and Non-Executive Director Nick Harrison are to participate in the placing to acquire an additional 2,000,000 and 250,000 ordinary shares respectively.
Kirsti Pinnell, corporate partner for Kuits and specialist AIM advisor, led the team advising the company on its placing, supported by solicitor Ryan Brown.