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Investment company lists on PLUS
Fairholt Resource Investments has joined PLUS Markets. The London-based company, an investment vehicle that focuses on the natural resources sector, raised £600,000 by placing 60 million shares at 1p each.
As Fairholt has 88 million shares in issue, the placing represents some 68 per cent of its share capital. The proceeds will fund potential acquisitions or investments and provide working capital.
The company also granted four million warrants to Sunvest Corporation, which subscribed to some 15 million shares when Fairholt joined PLUS. Sunvest now owns 25 million shares in Fairholt, a 28.4 per cent stake in the company. Fairholt’s directors, Toby Howell and Gavin Burnell, each own 4.4 million warrants.
Fairholt aims to invest in oil, gas, minerals, base metals or precious metals. Any acquisitions would be funded with cash, equity or debt. The company is expected to raise money in the future to fund investments or working capital.
Ruegg & Co is corporate adviser to Fairholt.
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