Share Name Share Symbol Market Type Share ISIN Share Description
Afritin Mining. LSE:ATM London Ordinary Share GG00BD95V148 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.90p 2.80p 3.00p 2.90p 2.88p 2.88p 1,377,875 09:42:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining - - - - 15.02

AfriTin Mining Ltd Result of General Meeting

14/06/2018 11:10am

UK Regulatory (RNS & others)


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RNS Number : 4157R

AfriTin Mining Ltd

14 June 2018

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

AfriTin Mining Limited

("AfriTin" or the "Company")

Result of General Meeting

AfriTin Mining Limited (AIM: ATM), a mining company with a portfolio of near production tin assets in Namibia and South Africa, with the flagship asset being the Uis Tin Mine in Namibia, is pleased to announce that at its General Meeting held earlier today all resolutions are duly approved.

Accordingly the Company has today issued 220,515,292* new ordinary shares (the "New Ordinary Shares") at a price of GBP0.027 per Placing Share (the "Placing Price") raising gross proceeds of GBP6m through an oversubscribed placing (the "Placing") and subscription (the "Subscription") with institutional and other investors.

The full details of the Placing and Subscription are set out in the announcement dated 23 May 2018.

Commenting, Anthony Viljoen, CEO said "We are pleased with the support from new and existing shareholders for the Placing and Subscription; and look forward to utilising the proceeds of this fundraising to progress our drilling programme and advancing the Bankable Feasibility study at our flagship asset at the Uis tin mine, Namibia. We will be providing further updates to our investors in due course."

Admission to Trading on AIM

As previously announced, application for admission to trading on AIM for the New Ordinary Shares has been made and it is anticipated that Admission will take place, and dealings will commence on 15 June 2018. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the Placing and Subscription its issued share capital will comprise 517,997,221** Ordinary Shares of no par value upon Admission. All of these Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in treasury. The total number of voting rights in the Company will therefore be 517,997,221** upon Admission.

* the number of shares issued pursuant to this Placing and Subscription is 3,039,809 Ordinary Shares less than that set out in the announcement dated 23 May 2018 as one of the subscribers to the direct subscription, being the estate of an IPO shareholder, was only able to partially fulfil their order.

** the number of Ordinary Shares in issue includes the new ordinary shares issued pursuant to the Placing and Subscription but excludes 96 Ordinary Shares which were added to the total number of shares in issue on 29 January 2018 (and in previous announcements) in error. This minor overstatement occurred due to a rounding error by the registrars of the Company at the time of admission to AIM and has now been corrected.

Enquiries:

 
AfriTin Mining Limited 
Anthony Viljoen (CEO)                 +27 (0) 11 268 6555 
Nominated Adviser and Joint Broker 
WH Ireland Limited 
 Katy Mitchell 
 Adrian Hadden 
 James Sinclair-Ford 
 John Syropoulo (Corporate Broking)     +44 (0) 207 220 1666 
Joint Broker to the Placing 
 Hannam & Partners 
 Jay Ashfield 
 Andrew Chubb 
 Joint Broker 
NOVUM Securities Limited 
 Gavin Burnell                        +44 (0) 207 399 9400 
Financial PR (United Kingdom) 
Tavistock 
Jos Simson / Barney Hayward           +44 (0) 207 920 3150 
Financial PR (South Africa) 
Lifa Communications 
 Cath Drummond / Gabriella von Ille   +27 (0) 11 268 5781 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 14, 2018 06:10 ET (10:10 GMT)

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