Botswana Diamonds PLC Placing to raise GBP550,000 (0139Q)
October 25 2021 - 2:00AM
UK Regulatory
TIDMBOD
RNS Number : 0139Q
Botswana Diamonds PLC
25 October 2021
25 October 2021
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Placing to raise GBP550,000
Placing
The Board of Botswana Diamonds (AIM: BOD) is pleased to announce
that it has today undertaken a Company-arranged placing with
existing and new investors to raise GBP550,000 via the issue of
55,000,000 new ordinary shares (the "Placing Shares") at a placing
price of 1p per Placing Share (the "Placing Price"). Each Placing
Share has one warrant attached with the right to subscribe for one
new ordinary share at 2p per new ordinary share for a period of
three years from 25 October 2021 (the "Placing Warrants"), being
the expected date of the Placing Warrants issue.
The Board has arranged the Placing within the existing share
authorities approved by shareholders at the last Annual General
Meeting. The Placing Shares will rank pari passu with the Company's
existing ordinary shares. Application will be made for the Placing
Shares to be admitted to trading on AIM and it is expected that
such admission will become effective on or around 5 November
2021.
The funds raised will be used to fund exploration activities
during the current year in Botswana and South Africa, which remain
ongoing, and to provide additional working capital for the
Company.
Total Voting Rights
In conformity with the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority ("FCA"), the Company
announces the following:
Following the issue of the Placing Shares, there will be a total
of 847,721,902 ordinary shares of 0.25p each in issue with each
ordinary share carrying the right to one vote ("Ordinary Shares").
The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with
voting rights is 847,721,902. The above figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.
Special note concerning the Market Abuse Regulation
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("MAR").
Market soundings, as defined in MAR, were taken in respect of
the Placing, with the result that certain persons became aware of
inside information, as permitted by MAR. That inside information is
set out in this announcement. Therefore, those persons that
received inside information in a market sounding are no longer in
possession of inside information relating to the Company and its
securities. The person who arranged for the release of this
announcement on behalf of the Company was Jim Finn, Director.
A copy of this announcement is available on the Company's
website, at www.botswanadiamonds.co.uk
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
James Campbell, Managing Director +27 83 457 3724
Jim Finn, Director +353 1 833 2833
Beaumont Cornish - Nominated Adviser
Michael Cornish
Roland Cornish +44 (0) 020 7628 3396
Beaumont Cornish Limited - Broker
Roland Cornish
Felicity Geidt +44 (0) 207 628 3396
First Equity Limited - Joint Broker
Jason Robertson +44 (0) 207 374 2212
Blytheweigh - PR +44 (0) 207 138 3206
Megan Ray +44 (0) 207 138 3553
Rachael Brooks +44 (0) 207 138 3206
Said Izagaren +44 (0) 207 138 3206
Naomi Holmes +44 (0) 207 138 3206
Teneo
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
Ciara Wylie +353 (0) 1 661 4055
Beaumont Cornish Limited ("Beaumont Cornish"), which is
authorised and regulated in the United Kingdom by the FCA, is
acting as Nominated Adviser ("Nomad") to the Company in connection
with the Placing, the terms of which have been agreed solely
arranged by the Company, and will not be acting for any other
person or otherwise be responsible to any person for providing the
protections afforded to clients of Beaumont Cornish or for advising
any other person in respect of the matters set out in this
announcement or any transaction, matter or arrangement referred to
in this announcement. Beaumont Cornish's responsibilities as the
Company's Nomad are owed solely to London Stock Exchange and are
not owed to the Company or to any Director or to any other person
in respect of his or her decision to acquire any shares in the
Company.
www.botswanadiamonds.co.uk
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END
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