750,000 new ordinary shares were placed with a private investor raising gross proceeds of £562,500. 200,000 warrants to subscribe for new ordinary shares at 75p per share or, if higher, at net asset value were also granted to the placee. The warrants will potentially raise an additional £150,000 for COLG.
COLG is an investment company, with a wide range of national and international investments. A public company since 1986, COLG has had a full London Stock Exchange listing since August 1996.
The Group’s strategy is to seek above-average performance in growth and income via a prudent mix of low, medium and higher-risk investments. A core portfolio of income stocks, offering a high degree of security, is balanced by a higher risk portfolio, which is primarily focused on the minerals and resources sector, where the Board has particular experience.
Eric Anstee, Chief Executive of COLG said, “We are delighted that Helium and David Newton, Co-investment adviser to the fund run by ISPartners Investment Solutions have elected to make this significant investment in COLG. Given the excellent returns Helium have consistently delivered to their investors this is a significant endorsement of our investment strategy and business model. We expect to be able to contribute to their track record of investment success going forward“.
Paul Osborne, Head of Corporate at Fox Williams LLP, led the transaction and was assisted by Associate Sharon O’Donnell.