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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Botswana Diamond PLC | AQSE:BOD.GB | Aquis Stock Exchange | Ordinary Share | GB00B5TFC825 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.375 | 0.30 | 0.45 | 0.375 | 0.375 | 0.375 | 0.00 | 06:56:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBOD
RNS Number : 0226O
Botswana Diamonds PLC
27 January 2023
27(th) January 2023
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Issue of equity
PDMR shareholding
The Board of Botswana Diamonds announces that it has today issued 28,524,665 ordinary shares of GBP0.0025 each ("Ordinary Shares") in the Company in respect of the second tranche of consideration shares due following completion of the acquisition of Vutomi in September 2022. In addition, the Company is issuing up to a further 58,737,455 Ordinary Shares following an exercise of warrants. The proceeds of the warrant exercise of GBP352,425 will be used for additional working capital. The Vutomi owned alluvial and dump mine at Marsfontein is expected to produce diamonds in February.
Issue of Vutomi consideration shares
As previously announced on 28 September 2022, the Company completed the acquisition of the outstanding third-party interests in Vutomi Mining (Proprietary) Limited and Razorbill Properties 12 (Proprietary) Limited (together "Vutomi"). Vutomi holds the mineral rights to the Thorny River Project as well as other exploration assets. The consideration for Vutomi comprised 56,989,330 new Ordinary Shares to be issued in two tranches (three months apart) following completion. Accordingly, 28,464,665 new Ordinary Shares ("First Tranche Consideration Shares") were issued in September 2022 and the balance of 28,524,665 new Ordinary Shares ("Second Tranche Consideration Shares") have been issued today to the vendors of Vutomi, conditional on admission at an issue price of 0.85p per Ordinary Share (based on the last closing mid-market price on 26(th) January 2023). James Campbell a director of the Company will as previously announced receive 4,745,977 Second Tranche Consideration Shares.
Warrant exercise
The Company has received conversion notices from holders (excluding Directors) of 43,734,000 warrants exercisable at 0.60 pence each ("Warrants"). In addition, as described further below, certain of the Directors have confirmed that they also intend to exercise 15,003,455 Warrants. In aggregate the Company will therefore issue (including the Directors intended exercise), 58,737,455 new Ordinary Shares ("Warrant Exercise Shares") at the exercise price of 0.60 pence per new Ordinary Share. The proceeds of the Warrant exercise, amounting up to GBP352,425, will be used for additional working capital.
PDMR dealings
Certain of the Directors intend as described above, to exercise Warrants and will receive Second Tranche Consideration Shares as set out in the table below:
Director Second Tranche No of Warrants Enlarged % of Enlarged Consideration Exercised Shareholding Share Capital Shares in the Company (Note) ---------------- --------------- --------------- ---------------- --------------- John Teeling - 10,000,000 64,084,318 6.14% James Finn - 4,590,910 38,826,369 3.72% James Campbell 4,745,977 412,545 11,215,906 1.07% ---------------- --------------- --------------- ---------------- ---------------
Note: The Enlarged Share Capital amounts to 1,043,877,899 Ordinary Shares comprising 956,615,779 existing Ordinary Shares, 28,524,665 Second Tranche Consideration Shares and 58,737,455 Warrant Exercise Shares.
Admission
Application will be made for the Second Tranche Consideration Shares and the Warrant Exercise Shares (together the "New Ordinary Shares") and amounting up to 87,262,120 New Ordinary Shares in aggregate, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and it is expected that this will take place on or around 2 February 2023 ("Admission").
Total Voting Rights
Following Admission, Botswana Diamonds will have 1,043,877,899 Ordinary Shares in issue which will also represent the total number of voting rights in the Company. The above figure should 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.
A copy of this announcement is available on the Company's website, at www.botswanadiamonds.co.uk
The information contained within this announcement in respect of the Warrant exercise 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. The person who arranged for the release of this announcement on behalf of the Company was Jim Finn, Director.
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 BlytheRay - 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 Teneo Luke Hogg +353 (0) 1 661 4055 Alan Tyrrell +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
ENDS
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END
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(END) Dow Jones Newswires
January 27, 2023 02:00 ET (07:00 GMT)
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