BWA Group Plc - Subscription for New Shares by Chairman

BWA Group Plc - Subscription for New Shares by Chairman

PR Newswire

LONDON, United Kingdom, November 28

28 November 2024

BWA Group PLC

(“BWA”, or the “Company”)

Subscription for New Shares by Chairman

BWA (AQSE:BWAP) the mining investment company with licences in Cameroon and Canada, is pleased to announce the subscription for 40,000,000 ordinary shares of 0.5p each (“Ordinary Shares”), raising £200,000, the Company’s Chairman, Jonathan Wearing (the “Subscription”).  The Subscription forms the second part of the fundraising outlined in the announcements of 5 June 2024 and 11 September 2024, and brings the amount raised to date to £450,000.

 

The monies received from the Subscription will be used to extend the Company’s exploration programme in Cameroon and for general working capital purposes.

 

The new Ordinary Shares issued under the Subscription will be allotted under the Company’s existing unspent share issue authorities and are expected to be admitted to trading on the AQSE Growth Market on 2 December 2024 (“Admission”).  On Admission, Mr Wearing will hold 238,713,415 Ordinary Shares, equivalent to 25.60% of the Ordinary Shares on Admission.  Mr Wearing’s holding includes Ordinary Shares held by Tricastle Investments Limited, a company he controls.

 

The issue of the New Shares constitutes a related party transaction under the AQSE Growth Market Access Rules.  The Board has concluded, having exercised reasonable care, skill and diligence, that the related party transaction is fair and reasonable as far as the shareholders of the Company are concerned.

 

On Admission, the Company will have 932,603,530 Ordinary Shares in issue, each with one voting right. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company is 932,603,530. This figure should be used by shareholders from Admission 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 Guidance and Transparency Rules.

 

For further information on the Company, please visit www.bwagroupplc.com/index.html or:

 

BWA Group PLC James Butterfield Managing Director	[phone] [e-mail]
Allenby Capital Limited Corporate Adviser	[phone] Nick Harriss/Lauren Wright
Oberon Capital Broker	[phone] Nick Lovering/Adam Pollock

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

 

Market Abuse Regulation (MAR) Disclosure

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

Name	Jonathan Wearing
Reason for notification	Director of BWA Group Plc
	Initial
Details of the issuer, emission allowance market participant, auction  platform, auctioneer, or auction monitor	BWA Group Plc
LEI	213800XG3K7PTAAG8630
Description of the financial instrument, type of instrument	Ordinary shares of 0.5p each
Identification code	ISIN: GB0033877555
Nature of the transaction	Subscription for Ordinary Shares
Price(s) and      volume(s)	40,000,000  0.5p per Ordinary Share
Aggregated information  Aggregated volume Price	N/A
Date of the transaction	28 November 2024
Place of the transaction	N/A

 

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