Armadale Capital Plc Issue of Equity

 
TIDMACP 
 
 

Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company

27 November 2017

Armadale Capital Plc ('Armadale' or 'the Company')

Issue of Equity

Armadale, the AIM quoted investment company focused on natural resource projects in Africa, announces that further to the announcement of 20 October 2017, it has allotted 500,000 ordinary shares of 0.1p each in the capital of the Company ('Ordinary Shares') in relation to advisory fees relating to the arrangement of the Company's financing facility.

The Company has applied for admission of the 500,000 new Ordinary Shares to trading on AIM. Dealings are expected to become effective on 30 November 2017 ('Admission').

Following Admission, the Company will have 243,140,034 Ordinary Shares in issue. The Company has no shares in treasury, therefore the figure of 243,140,034 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 of their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

**ENDS**

 
Enquiries: 
Armadale Capital Plc                        [phone] 
Tim Jones, Company Secretary 
Nomad and broker: finnCap Ltd               [phone] 
Christopher Raggett / Simon Hicks 
Joint Broker: Beaufort Securities Limited   [phone] 
Jon Belliss 
Press Relations: St Brides Partners Ltd     [phone] 
Susie Geliher / Charlotte Page 
 
 

Notes

Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.

The Company owns the Mahenge Liandu graphite project in south-east Tanzania, which is now its main focus. The Project is located in a highly prospective region with a high-grade JORC compliant inferred mineral resource estimate of 40.9Mt @ 9.41% TGC. At least 32Mt of this resource has an average grade of 10.47% TGC, one of the largest high-grade resources in Tanzania, and work to date has demonstrated Mahenge Liandu's potential as a commercially viable deposit with significant tonnage, high-grade coarse flake and near surface mineralisation (implying a low strip ratio) contained within one contiguous ore body.

Other assets Armadale has an interest in include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.

More information can be found on the website www.armadalecapitalplc.com

LEI: 213800495EK876JETD10Classification: 2.2 Inside Information

View source version on businesswire.com: http://www.businesswire.com/news/home/20171126005050/en/

 
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(END) Dow Jones Newswires

November 27, 2017 02:00 ET (07:00 GMT)