Pembridge Resources raises £570,000 through share issue

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Pembridge Resources PLC (LON:PERE) has said it is to raise £570,000 by issuing shares to some existing shareholders and directors at 4p a pop.

As well as issuing 14.25mln shares to raise fresh capital, the company has issued 308,793 shares to satisfy a liability.

Pembridge chief executive and chairman Gati Al-Jebouri has subscribed for 3mln shares, taking his holding up to 15.4mln shares, which is equivalent to 30.7% of the company’s share capital.

Fellow director Guy Le Bel has subscribed for 250,000 shares, raising his holding to 2.82mln shares, or 3.5% of the share capital.

The mining company said the money raised will enable it to fund its operations without requiring any additional financing to meet its current operating costs and those related to maintaining a public company.

Pembridge shares closed at 5.5p last night after rising 4.8% on the day.

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