Botswana Diamonds PLC Placing to raise £370,000 (8106N)

TIDMBOD

RNS Number : 8106N

Botswana Diamonds PLC

23 January 2019

23(rd) January 2019

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Placing to raise GBP370,000

Placing

The Board of Botswana Diamonds (AIM: BOD) is pleased to announce that it has today undertaken a placing with existing and new investors to raise GBP370,000 via the issue of 67,272,727 new ordinary shares (the "Placing Shares"), which includes the cash subscription by certain directors as detailed below, at a placing price of 0.55p per Placing Share (the "Placing Price"). Each Placing Share has one warrant attached with the right to subscribe for one new ordinary share at 0.6p per new ordinary share for a period of two years from 23(rd) January 2019 (the "Placing Warrants"), being the expected date of the Placing Warrants issue.

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 28(th) January 2019.

Use of Proceeds

The funds raised will be used to fund exploration activities during the current year in Botswana and South Africa, which remain ongoing, and to provide additional working capital for the Company.

Director Subscription

Certain directors are subscribing for Placing Shares (with Placing Warrants attached), as set out in the table below:

 
 Director          Subscription       Subscription        Enlarged    % of enlarged   Placing Warrants 
                     of Placing    as % of current    shareholding    share capital 
                         shares       issued share       following 
                                           capital     the placing 
----------------  -------------  -----------------  --------------  ---------------  ----------------- 
 James Finn           4,590,910              0.90%      29,644,549            5.14%          4,590,910 
 James Campbell         412,545              0.08%         898,861            0.16%            412,545 
 Total                5,003,455              0.98%      30,543,410            5.30%          5,003,455 
----------------  -------------  -----------------  --------------  ---------------  ----------------- 
 

Total Voting Rights

In conformity with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority ("FCA"), the Company announces the following:

Following the issue of the Placing Shares, there will be a total of 576,555,235 ordinary shares of 0.25p each in issue with each ordinary share carrying the right to one vote ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 576,555,235. 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.

Special note concerning the Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). Market soundings, as defined in MAR, were taken in respect of the Placing, with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities. The person who arranged for the release of this announcement on behalf of the Company was Jim Finn, Director.

Enquiries:

 
Botswana Diamonds PLC 
 John Teeling, Chairman                  [phone] 
 James Campbell, Managing Director       [phone] 
 Jim Finn, Director                      [phone] 
Beaumont Cornish - Nominated Adviser 
 Michael Cornish 
 Roland Cornish                         [phone] 
SVS Securities Plc - Broker 
 Tom Curran 
 Ben Tadd                              [phone] 
Blytheweigh - PR                       [phone] 
 Julia Tilley                           [phone] 
 Fergus Cowan                           [phone] 
Teneo 
 Luke Hogg                               [phone] 
 Alan Tyrrell                            [phone] 
 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        James Campbell 
     --------------------------  --------------------------------------------------------------- 
 2    Reason for notification 
     ------------------------------------------------------------------------------------------- 
 a)   Position / status                      CEO 
     --------------------------  --------------------------------------------------------------- 
 b)   Initial notification        Initial 
       /Amendment 
     --------------------------  --------------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------------------------- 
 a)   Name                        Botswana Diamonds plc 
     --------------------------  --------------------------------------------------------------- 
 b)   LEI                         213800UEF1WVQZIZRA91 
     --------------------------  --------------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------------------------------- 
 a)   Description of the          Ordinary shares of 0.25 pence each 
       financial instrument,       in Botswana Diamonds plc 
       type of instrument 
       Identification code 
                                   ISIN GB00B5TFC825 
     --------------------------  --------------------------------------------------------------- 
      Nature of the transaction   Subscription for new Ordinary Shares 
                                   and issue of Placing Warrants 
     --------------------------  --------------------------------------------------------------- 
      Price(s) and volumes(s) 
                                    Subscription for new Ordinary Shares Price(s)     Volumes(s) 
                                     GBP0.0055    412,545 
                                                 ----------- 
 
 
                                    Issue of Placing Warrants Price(s)    Volumes(s) 
                                     n.a.        412,545 
                                                ----------- 
     --------------------------  --------------------------------------------------------------- 
 d)   Aggregated information      n/a 
     --------------------------  --------------------------------------------------------------- 
 e)   Date of the transaction     23 January 2019 
     --------------------------  --------------------------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        Jim Finn 
     --------------------------  --------------------------------------------------------------- 
 2    Reason for notification 
     ------------------------------------------------------------------------------------------- 
 a)   Position / status                      Director 
     --------------------------  --------------------------------------------------------------- 
 b)   Initial notification        Initial 
       /Amendment 
     --------------------------  --------------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------------------------- 
 a)   Name                        Botswana Diamonds plc 
     --------------------------  --------------------------------------------------------------- 
 b)   LEI                         213800UEF1WVQZIZRA91 
     --------------------------  --------------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------------------------------- 
 a)   Description of the          Ordinary shares of 0.25 pence each 
       financial instrument,       in Botswana Diamonds plc 
       type of instrument 
       Identification code 
                                   ISIN GB00B5TFC825 
     --------------------------  --------------------------------------------------------------- 
      Nature of the transaction   Subscription for new Ordinary Shares 
                                   and issue of Placing Warrants 
     --------------------------  --------------------------------------------------------------- 
      Price(s) and volumes(s) 
                                    Subscription for new Ordinary Shares Price(s)     Volumes(s) 
                                     GBP0.0055    4,590,910 

                                                 ----------- 
 
 
                                    Issue of Placing Warrants Price(s)    Volumes(s) 
                                     n.a.        4,590,910 
                                                ----------- 
     --------------------------  --------------------------------------------------------------- 
 d)   Aggregated information      n/a 
     --------------------------  --------------------------------------------------------------- 
 e)   Date of the transaction     23 January 2019 
     --------------------------  --------------------------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------------------------------------------- 
 

ENDS

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January 23, 2019 02:00 ET (07:00 GMT)