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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
BWA Group plc | AQSE:BWAP | Aquis Stock Exchange | Ordinary Share | GB0033877555 | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 2.15% | 0.475 | 0.45 | 0.50 | 0.00 | 08:00:15 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBWAP THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. 28 March 2023 BWA Group PLC ("BWA" or the "Company") Funding Update BWA (AQSE: BWAP), which has mineral exploration licences in both Cameroon and Canada at various stages of development and is quoted on London's AQSE Growth Market, announces the provision of £35,000 of additional funding from its Board and certain existing investors. The funding is in the form of short-term loan notes with the following terms (the "Notes"): * Maturity date - 30 June 2023. * Interest rate - 100%. Interest to be payable in cash on maturity. * Repayment - In cash on maturity, but with a put option for the Company and a call option for the noteholder to require repayment through the issue of new ordinary shares of 0.5 pence each in the capital of the Company (" Ordinary Shares") at the nominal value. These options to be exercised no later than 23 June 2023. * Security - Unsecured In addition, the Company is in the process of formalising final terms for the short-term unsecured loans initially announced on 16 January 2023, which have a total principal amount of £39,000 (the "Loans"). It is anticipated that the maturity date of the Loans will be brought in line with the Notes. Further updates will be made as matters develop. The Directors of BWA are responsible for the contents of this announcement. Ends - For further information: BWA Group PLC +44 7770 225253 James Butterfield enquiries@bwagroupplc.com Interim Chairman Allenby Capital Limited +44 20 3328 5656 Corporate Adviser Nick Harriss/Lauren Wright Schedule of Lenders Name Notes Loans James Butterfield (Director) £8,000 £8,500 Alex Borrelli (Director) £1,000 £4,500 James Hogg (Director) £1,000 £4,500 Dick Howe (Subsidiary Director) £0 £3,000 Richard Battersby (Shareholder & Former £5,000 £8,500 Director) Jonathan Wearing (Shareholder) £20,000 £10,000 Total £35,000 £39,000 Market Abuse Regulation (MAR) Disclosure Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. Details of the persons discharging managerial responsibilities / persons closely associated. Name Alex Borrelli James Butterfield James Hogg Reason for Director of BWA Group Director of BWA Director of BWA notification Plc Group Plc Group Plc Initial Initial Initial Details of the BWA Group Plc BWA Group Plc BWA Group Plc issuer, emission allowance market participant, auction platform, auctioneer, or auction monitor LEI 213800XG3K7PTAAG8630 213800XG3K7PTAAG8630 213800XG3K7PTAAG8630 Description of Ordinary shares of Ordinary shares of Ordinary shares of the financial 0.5p each 0.5p each 0.5p each instrument, type of instrument Identification ISIN: GB0033877555 ISIN: GB0033877555 ISIN: GB0033877555 code Nature of the Option to settle loan Option to settle Option to settle transaction notes through the loan notes through loan notes through issue of Ordinary the issue of the issue of Shares Ordinary Shares Ordinary Shares Price(s) and 200,000 Ordinary 1,600,000 Ordinary 200,000 Ordinary volume(s) Shares at 0.5p per Shares at 0.5p per Shares at 0.5p per share share share Aggregated N/A N/A N/A information Aggregated volume Price Date of the 27 March 2023 27 March 2023 27 March 2023 transaction Place of the N/A N/A N/A transaction END
(END) Dow Jones Newswires
March 28, 2023 07:00 ET (11:00 GMT)
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