DMH Stallard advises Optiva Securities as broker to Asiamet Resources in £10 million equity fundraising

05 Mar 2021

Nick Williams advised Optiva Securities Limited (Optiva) on its role as broker to Asiamet Resources Limited (Asiamet) in a £10 million equity fundraising which completed today (5 March) on the admission of the shares subscribed to trading on the AIM market operated by the London Stock Exchange (AIM).

The fundraising comprised a firm placing by Optiva of 395,454,545 new common shares of par value $0.01 each in Asiamet (Shares) to raise a gross amount of approximately £8.7 million, and a placing by way of an accelerated bookbuilding process for which Optiva was the sole bookrunner and under which 45,454,545 Shares were placed, raising gross proceeds of approximately £1.0 million. At the same time Asiamet arranged a subscription of 16,529,658 Shares to raise a gross amount of approximately £0.36 million. The Shares in each case were issued at a price of 2.2 pence per share.

AIM-listed Asiamet is an emerging copper producer focussed on the development of a portfolio of large copper, copper-gold and polymetallic deposits in Indonesia, adjacent to the key growth markets in Asia.

The net proceeds from the placing and subscription will be used for a number of purposes, including completing an engineering programme, commencing early stage detailed engineering and design works, securing project financing for the construction of a copper mine and drill testing a number of high probability copper targets.

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