Liberum acts as Joint Bookrunner on £8.6m Fundraising for Ferro-Alloy Resources Limited

We are pleased to announce that Liberum acted as Joint Bookrunner on a £8.6m ($10.0m) fundraising (the “Fundraising”) for Ferro-Alloy Resources Limited (the “Company”) consisting of 72,025,351 new ordinary shares issued at 12p (the “Issue Price”).

Ferro Alloy (2)

The Fundraising consisted of an institutional placing (the “Placing”), director subscriptions (the “Subscriptions”) and a retail offer through PrimaryBid for £0.4m ($0.5m) (the “PrimaryBid Offer”). The Placing received strong demand from high-quality institutional investors and the PrimaryBid Offer was oversubscribed.

Vision Blue Resources Limited (“VBR”), the Group’s strategic investor and substantial shareholder, corner-stoned the Placing by subscribing for 39,243,021 Ordinary Shares. Nicholas Bridgen, Chief Executive Officer of the Company, and Chris Thomas, Non-Executive Director of the Company, subscribed for 4,041,666 ordinary shares in aggregate.

The net proceeds of the Fundraising will be used by the Company to complete the expanded Balasausqandiq feasibility study as quickly as possible and to the maximum scope and quality.

Liberum and Shore Capital acted as Joint Bookrunners on the transaction.

Liberum has been Joint Broker to the Company since February 2022.

Liberum Team 

Investment Banking – Scott Mathieson, Kane Collings, Will King

Research – Yuen Low

Sales – Simon Fickling

CIR – Nicole Barbour

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London

Ropemaker Place, Level 12 25 Ropemaker Street London EC2Y 9LY [email protected] +44 (0)20 3100 2000

Leeds

Northspring, 36 Park Row Leeds, LS1 5JL [email protected] +44 (0)113 841 9700

Cambridge

50-60 Station Road Cambridge, CB1 2JH [email protected] +44 (0)113 841 9700
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New York

20th Floor 575 Fifth Avenue New York NY 10017 [email protected] +1 212 596 4800