Fox Williams advised Seymour Pierce Limited (“Seymour Pierce”) in connection with the placing of 561,403,433 new ordinary shares (the “Placing Shares”) at a price of 1.5p per new ordinary share (the “Placing”) in Ortac Resources Limited (“Ortac”), an AIM listed exploration and development company focussed on precious metal projects in Europe.
The Placing raised £8,421.053 before expenses. The money raised will be mainly used to advance Ortac’s development of the Kremnica Gold Project in Slovakia.
Admission of the Placing Shares became effective on 15 February 2011.
Seymour Pierce is a leading London based investment bank and stockbroker focused on advising companies and raising finance for them. Seymour Pierce has experience across a range of sectors and has developed a well-regarded Equity Research team focused on the small and mid-cap arena.
James Channo, a partner in the Capital Markets team, led the transaction and was assisted by Sharon O’Donnell, an associate in the Capital Markets team.