Golden Prospect Precious Metals (GPM) has released a reminder for investors of their right to subscribe for one new ordinary share of GPM in respect of every five ordinary shares held at 6pm on 29 November 2024.

As at 30 October 2024, the share price is 46.00 pence, which is 10.06 pence or 28% above the exercise price of 35.94 pence.

Shareholders are not obliged to exercise their subscription rights and if they do not exercise their rights a subscription trustee appointed by the company, may, subject to its evaluation of market demand, attempt to place or sell unexercised subscription rights and return any proceeds, net of costs, within 14 days to shareholders who have not exercised their rights.

Shareholders should note that the board does not expect to have to scale back applications to subscribe for new ordinary shares as the total value of new ordinary shares to be issued is not expected to exceed €8m. As at 30 October 2024, if the subscription rights were exercised in full, that would result in 17.1m new ordinary shares being issued raising £6.1m (equivalent to €7.3m).

Full details of the offer can be found here. 

GPM : Golden Prospect Precious Metals reminds shareholders of upcoming subscription