The net proceeds of the Placing will be used for general working capital purposes; continuing costs associated with the Vametco transaction; ongoing work in respect of Bushveld Energy's Cooperation Agreement with the IDC and continuing work on Lemur Resources IPP project in Madagascar.
Application has been made for admission of the Placing Shares to trading on AIM ("Admission") and it is expected that Admission will take place and that trading will commence on AIM at 8.
A Tanfield Group spokesman said: "We have a long relationship with Ward Hadaway and found their assistance invaluable during this important share placing.
This latest placing will facilitate a step change in the company, as we develop into a truly global business.
KBC Peel Hunt has acted for Armour, the UK's leading consumer electronics group focused on home entertainment and in-car communication, on a pounds 6 million placing with existing and institutional investors to fund the acquisition of Alphason Designs, a specialist designer and supplier of audio visual furniture to consumer electronics markets.
And, KBC Peel Hunt, advised by Pinsent Masons, has raised pounds 12 million with a placing of new ordinary shares for AIM-quoted specialist investment bank and stockbroker, Corporate Synergy Group.
Production begins around four to five month after the initial chick placings.
2 million placings -- up more than 400,000 over the previous year's figure.
after three races: 1St Mary's,Crosby, 2 Holy Trinity, 3 St Mary's,West Derby.
Did the interference improve the placing
of the horse causing it?
On April 27 Official List company Bede plc announced a placing
of new shares to investors to raise pounds 9.
The committee was not satisfied that Esyoueffcee had improved her placing
in relation to Villa Carlotta.