Share Name Share Symbol Market Type Share ISIN Share Description
Botswana Diamond LSE:BOD London Ordinary Share GB00B5TFC825 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.675p 1.55p 1.80p 1.675p 1.675p 1.675p 148,846 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.3 -0.1 - 7.69

Botswana Diamonds PLC £868,000 Fundraising

03/08/2017 7:00am

UK Regulatory (RNS & others)


Botswana Diamond (LSE:BOD)
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TIDMBOD

RNS Number : 9608M

Botswana Diamonds PLC

03 August 2017

3(rd) August 2017

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

v Directors and Existing Irish Shareholders to Subscribe GBP868,000 in Proposed Fundraising

v Funds to be Used to Bring Vutomi Project to Inferred Resource

John Teeling, Chairman, commented "We are delighted with the response from existing shareholders to this funding.

The Vutomi project at Frischgewaagt is very exciting. We, as directors, and our family, are happy to support Botswana Diamonds and delighted that many of our colleagues agree with us."

The board of Botswana Diamonds (AIM: BOD) is pleased to announce that it has raised GBP543,000. A private placing of 43,440,000 shares at 1.25p a share raised GBP543,000. The cash was raised from directors' families and investors in Ireland.

Proposed Subscription and Exercise of Warrants by Directors and Other Parties

In addition to the placing the Board has been advised that John Teeling, James Finn and David Horgan intend to subscribe for 2,400,000, 1,200,000 and 1,200,000 new ordinary share respectively on the same terms as the placing to raise GBP60,000.

The board has also been advised that 31,244,300 warrants will be exercised following the placing at GBP0.0085 a share to raise GBP265,576.

Use of Proceeds

The proceeds raised will be used to bring the Frischgewaagt project to Inferred Resource status and to continue our Botswana exploration activities.

Total Voting Rights

The Placing shares will rank pari passu with the Company's existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that such admission will become effective on or around 9(th) August 2017.

Following the issue of the Placing Shares there will be a total of 423,002,908 ordinary shares of 0.25p each in issue with each share carrying the right to one vote. The above figure may 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.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

Enquiries:

 
 Botswana Diamonds PLC 
 John Teeling, Chairman          +353 1 833 2833 
 James Campbell, Managing 
  Director                       +27 83 457 3724 
 Jim Finn, Director 
 Northland Capital Partners 
  Limited 
 David Hignell/Gerry Beaney 
  (Corporate Finance)            +44 (0) 203 861 6625 
 John Howes (Broking) 
 Dowgate Capital Stockbrokers 
  Limited 
 Jason Robertson                 +44 (0) 203 903 7725 
 Blytheweigh                     +44 (0) 207 138 3204 
 Camilla Horsfall                +44 (0) 781 784 1793 
 Nick Elwes                      +44 (0) 783 185 1855 
 Teneo PSG 
 Ciaran Flynn                    +353 (0) 1 661 4055 
 Alan Tyrrell                    +353 (0) 1 661 4055 
 

www.botswanadiamonds.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFMGGRNZGGNZM

(END) Dow Jones Newswires

August 03, 2017 02:00 ET (06:00 GMT)

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