Pembridge Resources poised to kick off fundraising roadshow with "speed dating" at the Mint Leaf - sources
Pembridge Resources, the AIM-listed company formerly known as China Africa Resources, is expected to launch its fundraising roadshaw tomorrow.
And little old Betaville understands David Linsley, the company's newish chief executive, has introduced a rather novel format for the roadshow.
On Wednesday evening 25 select investors have been invited to the Mint Leaf curry house - http://www.mintleaflondon.com - in the Haymarket, Central London where they will spread out between 5 tables. As the punters eat, Linsley and his recently acquired team of mining seniors will join each table for 20 minutes to pitch the business plan and answer questions.
Linsley, one of the founders of Cross Asset Management, has told Pembridge's broking advisors that "speed-dating" investors will be far more efficient than traditional road show presentations comprising a slide show in front of a large audience.
The minimum needed to change the company's status to an investment company under Rule 8 is £6m but it's understood Pembridge has not set any upper limit on this equity fundraising.
Sources said this could well be the only chance for investors to participate in a Pembridge Resources fundraising as after this transaction is completed Linsley doesn't plan to ever return to the equity market. Instead, he plans to grow using other financing techniques.
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