Month: August 2017

Rosslyn Data Technologies plc, the provider of a leading cloud-based enterprise data analytics platform today is pleased to announce its audited results for the year ended 30 April 2017.

 

Financial Summary

 

Group Revenues of £3.6M (2016 £3.9M)

Loss before tax improvement of £0.4M to £2.0M (2016 £2.4M)

Cash used in Operations of £1.6M (2016 £2.9M)

Net Cash as at 30^th April 2017 stands at £0.3M (2016 £1.9M)

Tight financial and operational management delivered a lower cash burn than expected

 

Operational Highlights

• Customer wins included a major logistics company and a global media brand
• Strategic partnership with Dun & Bradstreet to provide self-service data and analytics to procurement professionals
• Microsoft recognised the RAPid platform as one of the top cloud-based platform products in October 2016 and also recognised Rosslyn as a preferred partner, issuing us with their “Co-Sell Recommended Partner” status
• New investments made in developing our product suite on the RAPid platform, adding new tools and functionality to the mix whilst ensuring the RAPid platform is scalable, user friendly and provides a satisfying user experience for our partners and clients
• Investment of funds in the development of an HR analytics product suite utilising the core technologies from our other applications and demonstrating the versatility of the platform
• Development of the Group’s strategy to focus on growth through acquisition and organically

 

 

Commenting on today’s results Roger Bullen, CEO of Rosslyn, said, ” I am pleased to report the Group results for the year ended 30 April 2017.

 

We have continued to invest in the development of our talented team, making key hires in sales, customer service, and R&D.  The addition of these skilled people ensures that our product offering remains market-leading and that we provide the highest levels of service possible to our clients.  Our continued development of the partner channel is exciting and is seeing the RAPid platform being progressively embedded in a number of organisations and I expect this list to increase. These Partnerships play an important role in closing the gap between the firm and the market place enabling us to grab market share far easier than through the direct channels. 

 

We have a broad pipeline of new business and we are excited about the year ahead.”

 

Chairman’s Statement

 

Results

 

The financial year to 30 April 2017 was our third full year as a public company for Rosslyn Data Technologies plc after the listing on AIM in April 2014. The platform we have built over the last three years has received significant accolades this year, culminating in receiving a Microsoft Data Platform of the Year finalist accreditation in October 2016, confirming our belief that the progress we have made in developing a cloud-based solution is significant.

 

This year, growing both our partnerships and our direct sales client base has been both challenging and rewarding. We deployed a significant element of the IPO funds into our partnership, sales and marketing strategies, whilst ensuring we did not miss any developments that would enable the business to transform to profitability and organic cash generation. As previously reported, the progress this year was not as rapid as we would have liked; Brexit, the US presidential election and difficult trading times for some of our Partners and clients has led to a slowdown in the delivery of some larger contracts. Group revenue £3.6m (2016: £3.9m). Despite this we have been able to manage our cost base and we are now able to see a timeline when cash flow break-even and profitability occur; although we are not yet complete, we believe there is a strong chance of this occurring this new financial year.

 

We ended the year with net cash balances of £0.3m (2016: £1.9m), but following the share placement on 15 May 2017, the Board believes that we have adequate cash resources to take the Group through to break-even and cash generation.

 

Strategy

 

The Group’s strategy has developed from last year with the appointment of Roger Bullen as CEO; our aim now is to establish the platform as a significant player in cloud-based analytics, delivering far more than the “Spend” environment we have focused on for the last three years. We are committed to growing revenues and profitability through a dual-track strategy of acquisition and organic growth. The acquisition of Integritie, now a 100% owned subsidiary in May 2017, demonstrates our determination to add new products and revenue streams to our platform and introduce new customers to the cloud.

 

Whilst we look at acquisition opportunities, to increase our scale and offering, we will also focus on developing the current relationships with our partners. We have been able to add more partners to our portfolio and have significantly expanded our relationship with Dun & Bradstreet, the world’s largest data provider. We have confidence that these partnerships and relationships will continue to grow and flourish. We are particularly excited by the new opportunities we are discovering with our partners in North America and we are hopeful that we can continue to expand our footprint in this region in the months ahead.

 

Our direct sales operation has delivered some notable wins this year, in all the regions in which we operate – the UK, Continental Europe and the US – and have managed to grow our average annual contract value considerably, up by more than 50% (£50k – £77k) since IPO. We are particularly excited by the new opportunities we are unearthing in the “highly sensitive” data market around the world. We will continue to market to this sector in the months ahead.

 

Our Staff

 

Our business would be nothing without our innovative and hard-working staff. From the development team to the client support staff, it is an end-to-end effort. Each role is critical to our continued success. On behalf of the Board I would like to thank all of them for their outstanding efforts in the last year and look forward to working with them and the new enlarged team in the current year.

 

Outlook

 

The 2017-18 financial year is going to be a year of change within the firm. The Integritie acquisition has doubled the size of our business and will deliver a number of new opportunities for us. Our partnership strategy continues to develop and is coming to fruition in the US; these partnerships have the potential to deliver the majority of our revenue over the coming years. This, alongside the strengthening traction within our direct sales, makes this an exciting year for us.

 

Recent announcements demonstrate the high regard major players within the data and analytics industry hold Rosslyn, the RAPid platform and the Knowledge Capture environment. Converting these relationships into scalable revenue streams is key for our growth and our future. I am optimistic that recent product launches and the innovation we continue to deliver will drive the results the Company and our shareholders deserve.

 

CONSOLIDATED STATEMENT OF COMPRHENSIVE INCOME FOR THE YEAR ENDED 30^th APRIL 2017

 

				Year ended 30 April 2017		Year ended 30 April 2016
Revenue				3,588,741		3,869,050
Cost of Sales				(651,605)		(481,269)
Gross Profit				2,937,136		3,387,781
Other Operating Income				–		45,535
Administrative Expenses				(4,915,222)		(5,819,195)
Operating Loss				(1,978,086)		(2,385,879)
Finance Income				15,029		11,058
Loss before Income Tax				(1,963,057)		(2,374,821)
Income tax				222,308		256,878
Loss for the year				(1,740,749)		(2,117,943)
Other comprehensive income				(33,764)		(14,908)
Total Comprehensive Income				(1,774,513)		(2,132,851)

 

 

 

CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30^th APRIL 2017

 

Assets					30th April 2017			30th April 2016
	Non- Current Assets
	Property, Plant and Equipment				29,003			57,353
					29,033			57,353
Current Assets
	Trade and other receivables				1,879,635			1,907,521
	Corporation tax receivables				220,000			253,000
	Cash and cash equivalents				284,833			1,858,841
					2,384,468			4,019,362
Total Assets					2,413,471			4,076,715
Liabilities
	Non-current liabilities
	Deferred tax				–			–
Current Liabilities
	Trade and other payables				(1,687,284)			(1,635,015)
	Financial liabilities – borrowings				–			–
					(1,687,284)			(1,635,015)
Total Liabilities					(1,687,284)			(1,635,015)
Net Assets					726,187			2,441,700
Equity
	Called up Share Capital				378,829			378,829
	Share Premium				8,517,060			8,517,060
	Share based payment reserve				218,276			166,107
	Accumulated loss				(13,453,865)			(11,719,947)
	Translation reserve				(67,175)			(33,411)
	Merger reserve				5,133,062			5,133,062
Total Equity					726,187			2,441,700

 

 

CONSOLIDATED STATEMENT OF CASH FLOWS for the Year ended 30 April 2017

			Year ended 30 April 2017		Year ended 30 April 2016
Cash flows used in operating activities
	Cash used in operations		(1,775,216)		(3,055,063)
	Corporation tax received		255,308		221,960
	Other comprehensive income		(33,764)		(14,908)
Net Cash used in operating activities			(1,553,672)		(2,848,011)
Cash flows used in investing Activities
	Proceeds from sale of property, plant and equipment		317		–
	Purchase of property, plant and equipment		(20,653)		(8,622)
Net cash used in investing activities			(20,336)		(8,622)
Cash flows (used)/generated from financing activities
	Repayment of borrowings		–		–
	Proceeds from share issuance		–		2,744
Net cash generated from financing activities			–		(2,744)
Net Decrease in cash and cash equivalents			(1,574,008)		(2,853,889)
Cash and cash equivalents at beginning of year			1,858,841		4,712,730
Cash and Cash equivalents at end of year			284,833		1,858,841

 

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

1. General Information

Rosslyn Data Technologies plc (the “Company”) is a company domiciled in the UK. The address of the registered office is Fox Court, 14 Gray’s Inn Road, London WC1X 8HN. The Company is the ultimate parent of Rosslyn Analytics Ltd. a company incorporated in the UK, and the ultimate parent of Rosslyn Analytics Inc., a company incorporated in the United States of America (collectively the “Group”). The Group’s principal activity is the provision of data analytics using a proprietary form.

 

The principal accounting policies adopted in the preparation of the consolidated financial information are set out below.

 

2. Accounting Policies

Basis of preparation

The Group’s consolidated financial statements have been prepared and approved by the Directors in accordance with the International Financial Reporting Standards (as adopted by the EU) and IFRC interpretations and those parts of the Companies Act 2006 applicable to companies reporting under IFRS. The financial statements have been prepared under the historical cost convention

Going Concern

Notwithstanding that the Group has made losses in the current year, these financial statements have been prepared on the going concern basis, which assumes that the Group will continue to be able to meet its liabilities as they fall due for the foreseeable future. Following the placement of 111,142,031 ordinary £0.005 shares at the price of £0.045 on 15 May 2017, the Directors believe that the Group has sufficient working capital to meet its present requirements for at least the next twelve months from the date of this consolidated financial information. The Directors have prepared cash flow statements for the period to 30 April 2025 to ensure going concern criteria are met.

Basis of Consolidation

On 23 April 2014 the Company acquired the Group’s previous parent company, Rosslyn Analytics Ltd., via a share for share exchange whereby every ordinary share and A preference share in Rosslyn Analytics Ltd. Was exchanged for eight ordinary shares and eight A preference shares respectively in Rosslyn Data Technologies Ltd. (prior to conversion to a plc on 24 April 2014). On 24 April 2014 the A preference shares were converted into ordinary shares on a one for one basis.

On 29 April 2014 Rosslyn data Technologies were admitted to trading on AIM.

Accordingly these financial statements are presented in the name of the legal parent, Rosslyn data Technologies plc.

 

The Annual report will be available on the Company’s website for download by 21^st September 2017 and the Annual General Meeting will be held on 19^th  October at 10.30am, Waterhouse Square, 138 Holborn, London EC1N 2SW

This information is provided by RNS

The company news service from the London Stock Exchange

Keras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited (‘Calidus’), in which Keras holds a 30% interest.  Calidus has commenced diamond drilling in parallel with the ongoing RC Drill programme at its flagship Warrawoona Gold Project, located in the Pilbara of Western Australia.

 

Calidus’ current drilling campaign is intended to support a significant resource upgrade in Q4 2017 with a large portion of this updated resource estimate forecast to be in the Indicated category.  As previously announced, once an Indicated Resource of at least 500,000oz is declared, Keras will receive 241.25m Ordinary Shares in Calidus, which will increase Keras’ holding to ~50% of Calidus’ total issued share capital based on the number of shares currently in issue.

 

Summary of Calidus’ announcement:

 

The programme will include drilling a total of 9 holes in the main Klondyke Shear, Copenhagen, Coronation and Fieldings Gully deposits. The purpose of the drill programme is to provide information for structural geology and metallurgical testwork.

 

Dave Reeves commented, “To assist in generating a revised resource by end of this year, Calidus have commenced a diamond drill programme. The drill programme will allow detailed understanding on the structural geology of the deposit and provide core for initial metallurgical work. This is another step forward in Calidus’ aggressive pursuit of this rapidly developing project”.

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

Glossary

 

Diamond Drilling –  a drill having a hollow, cylindrical bit set with diamonds, used for obtaining cores of rock samples.

 

RC Drilling – Reverse circulation (RC) drilling uses a bit attached to a down-hole hammer to produce a hole. Unlike diamond drilling, RC drilling produces samples of rock cuttings rather than a sample of rock core. The down-hole hammer is powered by compressed air, which also acts as the medium bringing the drill cuttings up to surface.

 

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

Dave Reeves	Keras Resources plc	dave@kerasplc.com
Nominated Adviser
Gerry Beaney/David Hignell	Northland Capital Partners Limited	+44 (0) 20 3861 6625
Broker
Damon Heath/Erik Woolgar	Shard Capital Partners LLP	+44 (0) 20 7186 9952
Tom Curran/Ben Tadd	SVS Securities Plc	+44 (0) 203 700 0093

 

This information is provided by RNS

The company news service from the London Stock Exchange

Horizonte Minerals Plc, the nickel development company focused in Brazil, is pleased to report the progress to date of the on-going Feasibility Study (‘FS’) on its 100%-owned Araguaia nickel project (‘Araguaia’ or ‘the Project’). The Company is developing Araguaia as Brazil’s next ferro-nickel mine.

 

Highlights:  FS is progressing on schedule and is over 60% complete, with targeted completion Q4 2017 into Q1 2018

• Process Design and Engineering

o Major equipment packages issued to the market to assemble capital costs estimates

o Power line route from national grid to plant substation finalised

o Site layout work substantially complete and 3D model developed

o Manning tables and organisational structure for future nickel operation concluded

• Geology and Mining

o Mine planning and design is at an advanced stage of completion

o Geotechnical sampling and testwork completed to support engineering design in the process plant areas and appropriate pit design

• Social & Environmental

o Finalised environmental control plans for the Installation Licence ready to be submitted to the State Environmental Agency in Q3 2017

o Sustainability team progressing towards the water pipeline and energy transmission line installation licences

 

Horizonte CEO Jeremy Martin said, “We are making good progress towards the completion of the Feasibility Study and with over 60% of the work streams complete to date the Feasibility Study remains on schedule to be completed on budget around the end of the year with targeted publishing in early 2018.

 

“The next major milestone and de-risking step for the Project will be the award of the Installation Licence, which allows construction to start.   We are now in a position to submit all the documentation for the Installation Licence to the environmental agency in Q3 2017 with a view to the award of the licence in Q1 2018.

 

“There has been a steady increase in the nickel price over the last eight weeks with prices now over US$11,000 per tonne, this aligned with our project milestones over the next 12 months should see increased interest in the Company as we advance the project through to the construction stage.”

 

Further Details

 

Work completed for Process Design and Engineering segments of the Feasibility Study which are being undertaken by Worley Parsons Canada Services Ltd. (‘Worley Parsons’) includes the following:

 

• Major equipment packages issued to the market to assemble the capital cost estimates
• Mobilisation of construction team for contracting and execution strategy, construction strategy and overall implementation plan are progressing well
• Power line route coordinates were finalised from national grid substation to plant substation enabling a key piece of capital cost to be estimated
• Layout work is substantially complete, with the 3D model developed
• Manning tables and organizational structure for future operation have been concluded
• Consumables pricing have been received and are being reviewed for operating costs analysis
• Finalised the architectural design work for the ore drying area and the coal handling area
• P&ID’s from Ore Reception to the Dryer Feed were issued and PFDs are completed

 

Work completed or at an advanced stage of development in the Geology and Mining segments of the study being undertaken by Snowden Mining Industry Consultants (‘Snowden’) includes the following:

 

• A Trial Excavation of ~27,000 tonnes of overburden and ore was completed in May 2017.  The programme was designed to test amongst other things the short scale variability in the ore horizons, the assessment of appropriate grade control sampling, facilitate a reconciliation exercise between the estimated grades/tonnes and the as mined material, measure the granulometry of the ore, large scale measurement of the bulk density and give technical support for mining cost assumptions
• A conditional simulation exercise on three of the principal deposits to be mining in the first 10 years has been successful completed. This gives quantitative support to the resource classification
• Mine planning and detailed design is at an advanced stage
• The development of a mine-to-mill strategy has been developed to ensure appropriate operational procedures to ensure the plant feed meets the chemical and physical requirements
• Preparation of detailed documentation for potential mine contractor quotations has been completed
• The estimation of the quantities of ferricrete suitable for use at sheeting in the mining areas has been completed

 

Social & Environmental Activities

 

Licensing:

• The Preliminary Licence (‘LP’) for Araguaia was approved in May 2016.  Once the Installation Licence (‘LI’) is awarded in parallel with the mining concession, construction may start
• An environmental team of 15 fauna specialists completed a major work programme in July 2017, complementing fauna collections previously undertaken in the region
• Flora, physical and socio-economic studies were completed in June 2017
• All environmental control plans for the LI submission to SEMAS are complete  The sustainability team is now collating the package of documents required to submit the LI to SEMAS in Q3 2017
• With the bulk of work complete on the LI for the Araguaia South mine and plant, the Sustainability team is now progressing towards the supporting infrastructure licence submissions, including the water pipeline and energy transmission line
• A new flora study will take place in September 2017 to characterise the vegetation where the future water pipeline will be constructed

 

Additionally, Environmental Resources Management (ERM) consultants continue to progress the sustainability sections of the FS in line with Equator principles and IFC performance standards.

 

The Araguaia Nickel Project

Araguaia, which is 100% owned by Horizonte, is located on the eastern margin of the State of Pará, north-eastern Brazil, to the north of the town of Conceição do Araguaia (population of 46,206), south of the main Carajás Mining District.

 

The Project has good regional infrastructure including a network of Federal highways and roads, with access to low tariff hydro-electric power.  The Carajás Mining District, situated approximately 200km northwest of Araguaia, is host to a number of major iron and copper mines operated by mining major Vale SA.

 

The PFS released in October 2016 considers open pit mining for the exploitation of nickel laterite to establish the production of run of mine (‘ROM’) from eight open pits to supply a targeted 0.9 million tonnes per annum (‘Mt/a’) of ore to a processing and smelter facility.  This facility will use the proven RKEF process with the product being sold at free on board (‘FOB’) at the selected port of export.

 

A Base Case of 0.9 Mt/a production throughput was selected because of the Company’s objective to minimise the capital expenditure and overall capital intensity, and to optimise overall cash flow, payback, and the economics of the Project.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For further information visit www.horizonteminerals.com or contact:

 

Jeremy Martin	Horizonte Minerals plc	Tel: +44 (0) 20 7763 7157
David Hall	Horizonte Minerals plc	Tel: +44 (0) 20 7763 7157
Emily Morris Christopher Raggett James Thompson	finnCap Ltd (Corporate Broking) finnCap Ltd (Corporate Finance) finnCap Ltd (Corporate Finance)	Tel: +44 (0) 20 7220 0500 Tel: +44 (0) 20 7220 0500 Tel: +44 (0) 20 7220 0500
Anthony Adams	finnCap Ltd (Corporate Finance)	Tel: +44 (0) 20 7220 0500
Damon Heath	Shard Capital  (Joint Broker)	Tel: +44 (0) 20 7186 9952
Erik Woolgar	Shard Capital (Joint Broker)	Tel: +44 (0) 20 7186 9952
Lottie Brocklehurst Megan Dennison	St Brides Partners Ltd (PR) St Brides Partners Ltd (PR)	Tel: +44 (0) 20 7236 1177 Tel: +44 (0) 20 7236 1177

 

About Horizonte Minerals:

Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil, which wholly owns the advanced Araguaia nickel laterite project located to the south of the Carajás mineral district of northern Brazil.  The Company is developing Araguaia as the next major nickel mine in Brazil, with targeted production by 2019.

 

The Project has good infrastructure in place including rail, road, water and power.

 

Horizonte has a strong shareholder structure including Teck Resources Limited 17.9%, Lombard Odier Asset Management (Europe) Limited 14.11%, Richard Griffiths 14.5%, JP Morgan 8.4%, Hargreave Hale 6.4% and Glencore 6.4%.

 

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the potential of the Company’s current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: exploration and mining risks, competition from competitors with greater capital; the Company’s lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company’s future payment obligations; potential disputes with respect to the Company’s title to, and the area of, its mining concessions; the Company’s dependence on its ability to obtain sufficient financing in the future; the Company’s dependence on its relationships with third parties; the Company’s joint ventures; the potential of currency fluctuations and political or economic instability  in countries in which the Company operates; currency exchange fluctuations; the Company’s ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company’s plans to continue to develop its operations and new projects; the Company’s dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

 

Chesterfield Resources plc, a special purpose acquisition company focused on opportunities in the mining sector, is pleased to announce the admission of its entire issued and to be issued ordinary share capital (the “Ordinary Shares”) to the Standard Listed segment of the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange (“Admission”). Admission will become effective and dealings in the Ordinary Shares will commence at 8:00am with the TIDM CHF.

 

Christopher Hall, Non-Executive Chairman, said: “I am pleased and greatly encouraged by the results of our placing in conjunction with the listing of Chesterfield.  We raised more than our target and we hope to identify, negotiate and close a transaction speedily, leaving us with sufficient funds to add value before contemplating more significant development finance.  Chesterfield has a very strong slate of significant shareholders with a track record of success and staying power.  There are still plenty of opportunities for a company focused on value, cashflow and growth.  I look forward to reporting progress with our first acquisition.”

 

Highlights

 

• Admission of the Ordinary Shares to the Official List and to trading on the Main Market of the London Stock Exchange.
• The Company has raised £1.3 million (approximately £1.15 million net of expenses) by way of a placing of new Ordinary Shares.
• After payment of the expenses of the placing and Admission, the Company expects to have cash at bank of approximately £1.25 million.
• Chesterfield is a special purpose acquisition company focused primarily on acquiring a company, business or asset in the exchange traded non-ferrous metals segment of the mining industry, within the European geographic region and valued at up to £20 million.
• Board of directors with wide-ranging experience working for and/or advising natural resources businesses and an extensive network of relationships.

 

The Placing

 

The Company has raised £1.3 million (approximately £1.15 million net of expenses) by way of a placing of 26,000,000 new Ordinary Shares at 5p per share. Subscribers will also receive one warrant for every two Ordinary Shares subscribed, carrying the right to subscribe for one new Ordinary Share at 10p per share for a period of three years from Admission.

 

Opportunity and Strategy

 

The directors of the Company (the “Directors”) believe that underinvestment in the mining sector over the last five years, coupled with growing demand for commodities provides a significant opportunity for Chesterfield.

 

The Company will primarily be focused on acquiring a company, business or asset (the “Acquisition”) that has operations in the exchange traded non-ferrous metals segment within the European geographic region. Exchange traded non-ferrous metals include precious metals (e.g. gold, silver and platinum) and base metals (e.g. copper, lead, zinc, tin, aluminium and nickel). Chesterfield expects that the Acquisition is likely to be valued at up to £20 million, although larger opportunities may be considered if the Directors are satisfied that the Company has the resources available to it to proceed with such a transaction.

 

The Company intends to focus on an Acquisition where value is trapped by virtue of a capital or expertise deficit, which may often occur in family controlled businesses and small companies or where the business or assets are considered non-core by a larger natural resources company. Chesterfield intends to identify a company, business or asset where the existing owners are attracted to the Chesterfield proposition, namely the opportunity to sell for cash or hold an ownership interest in a London listed company with cash, access to capital markets and the know-how to unlock the value of their resource assets.

 

The Company will aim to acquire all or the substantial majority of the Acquisition and become a trading business, rather than an investment entity. Chesterfield intends to use the Acquisition as a cornerstone to build a substantial group within the sector, growing organically and by further acquisition.

 

The Directors believe that the Company should be well placed to compete against other market participants in the exchange traded non-ferrous metals exploration and production sector on the basis that:

 

• the Directors have wide-ranging experience working for and/or advising businesses operating within the natural resources sector;
• the Directors have an extensive network of relationships to reach the key decision-makers and owners of potential target in the sector; and
• the Company has considerable flexibility in how it would be able to finance the consideration for the Acquisition, which may include a proportion of the Company’s cash resources together with the potential to incur indebtedness and/or to issue additional shares, whether to raise additional cash or as transaction consideration.

 

The Directors

 

The board of directors of the Company comprises:

 

Christopher Hall, Non-Executive Chairman, has more than 40 years’ experience in exploration and mine geology, mining share analysis, specialist fund management and M&A. He was previously in-house mining adviser to Grant Thornton LLP, UK and chairman of Stratex International plc (AIM: STI);

 

Peter Damouni, Non-Executive Director, has over 16 years of experience in investment banking and capital markets with expertise in mining and oil and gas and having worked on numerous IPOs, fundraisings and restructurings. He is a director of Georgian Mining Corporation (AIM: GEO) and Kerr Mines, Inc (TSX: KER);

 

David Cliff, Non-Executive Director, has nearly 50 years’ experience in exploration and mine geology, including 26 years at Rio Tinto, five of which as Exploration Manager Europe. He led the discovery of the Çöpler gold mine in Turkey, now owned and operated by Alacer Gold Corporation; and

 

Derek Crowhurst, Non-Executive Director and Company Secretary, has over 30 years of experience in investment banking and capital markets, having worked on numerous IPOs (on both the Official List and AIM), secondary find raisings and M&A transactions.

 

 

For further information contact:

 

Chesterfield Resources plc:
Christopher Hall, Non-Executive Chairman	Tel: +44(0)7773 427726
Peter Damouni, Non-Executive Director	Tel: +44(0)7771 787788
Shard Capital (Broker):
Damon Heath	Tel: +44(0)20 7186 9952
Erik Woolgar	Tel: +44(0)20 7186 9964

 

 

Notes to Editors:

 

Chesterfield Resources plc (“Chesterfield” or the “Company”), whose ordinary shares were admitted to the Official List and to trading on the Main Market London Stock Exchange on 29 August 2017 (TIDM: CHF), is a special purpose acquisition company focused on opportunities in the mining sector.

 

The Company will primarily be focused on acquiring a company, business or asset (the “Acquisition”) that has operations in the exchange traded non-ferrous metals mining segment within the European geographic region. Chesterfield expects that the Acquisition is likely to be valued at up to £20 million, although larger opportunities may be considered. The Company will aim to acquire all or the substantial majority of the Acquisition and become a trading business, rather than an investment entity. Chesterfield intends to use the Acquisition as a cornerstone to build a substantial group within the sector, growing organically and by further acquisition.

 

The directors of the Company have wide-ranging experience working for and/or advising businesses operating within the natural resources sector and an extensive network of relationships to reach the key decision-makers and owners of potential targets in the sector.

 

Chesterfield intends to identify and acquire a company, business or asset where the existing owners are attracted to the Chesterfield proposition, namely the opportunity to sell for cash or hold an ownership interest in a London listed company with cash, access to capital markets and the know-how to unlock the value of their resource assets.

 

Chesterfield has considerable flexibility in how it would be able to finance the consideration for the Acquisition, which may include a proportion of the Company’s cash resources together with the potential to incur indebtedness and/or to issue additional shares, whether to raise additional cash or as transaction consideration.

 

For more information about the Company, please visit http://www.chesterfieldresourcesplc.com.

 

This information is provided by RNS

The company news service from the London Stock Exchange

Falcon Media House (LSE:FAL), the global digital media group focused on the over-the-top (‘OTT’) market, is pleased to announce the signing of a Share Purchase Agreement (‘SPA’) with GSC SICAV plc (the ‘Founder’) to acquire the Founder Share for consideration of £8.00 (eight pounds).  The Founder Share has subsequently been cancelled.

 

There was only one Founder Share in issue and whilst, at the time of the acquisition, it carried no rights to dividends or distributions and no voting rights it granted the holder the right to appoint, and remove any Directors so appointed, up to three Directors.

 

Gert Rieder, Chief Executive Falcon Media House, commented, “The original purpose of the Founder Share was to provide a protection mechanism for the Founder shareholder and I am pleased that, following on from: the recent purchase of the Quiptel Group; the Re-Admission of the enlarged Group to trading on the London Stock Exchange and the numerous subsequent commercial developments, the Board and the Founder have agreed that this protection mechanism is no longer required.  As the Group works hard to develop its operations it follows that the shareholder base will also develop and the Board believe that the acquisition and subsequent cancellation of the Founder Share marks an important milestone in this process.”

For more information visit www.falconmediahouse.com or enquire to:

Falcon Media House Limited Gert Rieder	info@falconmediahouse.com
St Brides Partners Ltd (PR) Isabel de Salis / Olivia Vita / Frank Buhagiar	+44 (0) 20 7236 1177

 

About Falcon Media House & Quiptel

Falcon Media House (LSE:FAL) is a multi-divisional, global internet media group. It is building a new breed of media entertainment house for the way people want to consume live and on-demand video content. Its goal is to create an ecosystem where great technology meets great entertainment ideas and finds the right audience. The Group is capitalising on explosive demand for digital video, streamed “live” and “on-demand” known as the Over-The-Top (OTT) video streaming market.  Falcon Media House operates three distinct and synergistic divisions:

• Technology Division:Powered by Quiptel’s innovative patented technology enabling “intelligent streaming” (aka Q-Flow) on any network to any device, dramatically improving QoS & QoE and ‘bridging the last mile’.
• OTTDistribution Division: Providing a white label OTT service, supporting brands and content creators in bringing unique and exclusive content to a global audience.
• Content Division:Specialist media and production company to produce content for own and third-party broadcast distribution.

 

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

Chesterfield Resources plc, a special purpose acquisition company focused on opportunities in the mining sector, is pleased to announce the publication of its prospectus dated 22 August 2017 (the “Prospectus”) in connection with the proposed admission of its entire issued and to be issued ordinary share capital (the “Ordinary Shares”) to the Standard Listed segment of the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange (“Admission”).

 

It is expected that Admission will become effective and that dealings in the Ordinary Shares will commence at 8.00 a.m. on 29 August 2017 with the TIDM CHF.

 

The Prospectus has been approved by the UK Listing Authority and submitted to the National Storage Mechanism and will shortly be available at http://www.morningstar.co.uk/uk/nsm and at http://www.chesterfieldresourcesplc.com.

 

 

For further information contact:

 

Chesterfield Resources plc:
Christopher Hall, Non-Executive Chairman	Tel: +44(0)7773 427726
Peter Damouni, Non-Executive Director	Tel: +44(0)7771 787788
Shard Capital (Broker):
Damon Heath	Tel: +44(0)20 7186 9952
Erik Woolgar	Tel: +44(0)20 7186 9964

 

 

Notes to Editors:

 

Chesterfield Resources plc (“Chesterfield” or the “Company”), whose ordinary shares are expected to be admitted to the Official List and to trading on the Main Market London Stock Exchange on 29 August 2017 (TIDM: CHF), is a special purpose acquisition company focused on opportunities in the mining sector.

 

The Company will primarily be focused on acquiring a company, business or asset (the “Acquisition”) that has operations in the exchange traded non-ferrous metals mining segment within the European geographic region. Chesterfield expects that the Acquisition is likely to be valued at up to £20 million, although larger opportunities may be considered. The Company will aim to acquire all or the substantial majority of the Acquisition and become a trading business, rather than an investment entity. Chesterfield intends to use the Acquisition as a cornerstone to build a substantial group within the sector, growing organically and by further acquisition.

 

The directors of the Company have wide-ranging experience working for and/or advising businesses operating within the natural resources sector and an extensive network of relationships to reach the key decision-makers and owners of potential targets in the sector.

 

Chesterfield intends to identify and acquire a company, business or asset where the existing owners are attracted to the Chesterfield proposition, namely the opportunity to sell for cash or hold an ownership interest in a London listed company with cash, access to capital markets and the know-how to unlock the value of their resource assets.

 

Chesterfield has considerable flexibility in how it would be able to finance the consideration for the Acquisition, which may include a proportion of the Company’s cash resources together with the potential to incur indebtedness and/or to issue additional shares, whether to raise additional cash or as transaction consideration.

 

For more information about the Company, please visit http://www.chesterfieldresourcesplc.com.

 

 

 

This information is provided by RNS

The company news service from the London Stock Exchange