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DJ Pelican House Mining Plc Change of Strategy; Conditional Issue of Equity

 
TIDMPHM 
 
Pelican House Mining plc 
 
                   (the "Company" or "Pelican House Mining") 
 
       Proposed Change of Investment Strategy; Conditional Share Placing 
 
Proposed Change of Investment Strategy 
 
The Board of Pelican House Mining today announces that it intends to seek 
shareholders' approval for, inter alia, the adoption of an investment strategy 
focusing on generating an attractive rate of return for shareholders by the 
provision of finance to businesses within the sports and leisure sectors 
together with their associated intellectual property, media, technology and 
infrastructure. 
 
A circular ("Circular") is being prepared and shall shortly be issued, which 
will set out the reasons that the Directors consider it to be in the best 
interests of the Company and of its shareholders as a whole for this to occur; 
and to seek shareholders' approval for this and other measures at a General 
Meeting to be convened for the purpose. 
 
Conditional Placing of Equity 
 
The Company further announces that, conditional only upon the passing of the 
resolutions to be placed before shareholders at the forthcoming General 
Meeting, full details of which shall be set out in the Circular, it has 
arranged to raise approximately GBP60,000 before expenses through a placing (the 
"Placing") of 13,333,333 new ordinary shares of 0.1 pence each in the capital 
of the Company (the "Placing Shares") at 0.45 pence per share (the "Placing 
Price") with Eight Capital Partners plc (the "Investor"). The Investor will 
also receive 13,333,333 warrants over a like number of new ordinary shares, 
each with a life of three years from the date of issue and exercisable at the 
Placing Price. Owing to the common directorships of John Treacy of the Company 
and of the Investor, the Placing will be a related party transaction. 
 
This announcement contains inside information for the purposes of Article 7 of 
Regulation (EU) 596/2014 (Market Abuse Regulation). 
 
Simon Grant-Rennick, 
Chairman, 
Pelican House Mining plc, 
London, 6th December 2018 
 
The foregoing announcement has been issued after due and careful enquiry; the 
Directors of Pelican House Mining accept responsibility for its content. 
 
Enquiries: 
 
Pelican House Mining plc:                   Simon Grant-Rennick 
E-mail:    contact@pelicanhousemining.co.uk; 
sgrelk@aol.com 
Tel:                                                      + 44 797 325 3124 
 
 
Keith, Bayley, Rogers & Co. Limited:    Graham Atthill-Beck 
E-mail: 
Graham.Atthill-Beck@kbrl.co.uk / 
 
 
blackpearladvisers@gmail.com 
Tel:                                                      +44 20 7464 4091 
Mob:                                                    +44 750 643 4107; +971 
50 856 9408 
 
                                                            Brinsley Holman 
 
E-mail: 
Brinsley.Holman@kbrl.co.uk 
Tel:                                                      +44 20 7464 4098 
 
 
 
END 
 

(END) Dow Jones Newswires

December 06, 2018 12:09 ET (17:09 GMT)