Botswana Diamonds PLC Placing to raise GBP363,000 (5220M)

TIDMBOD

RNS Number : 5220M

Botswana Diamonds PLC

22 January 2021

22(nd) January 2021

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Placing to raise GBP363,000

Director / PDMR shareholding

Placing

The Board of Botswana Diamonds (AIM: BOD) is pleased to announce that it has today undertaken a Company-arranged placing with existing and new investors to raise GBP363,000 via the issue of 60,500,000 new ordinary shares (the "Placing Shares"), which includes the cash subscription by certain directors as detailed below, at a placing price of 0.6p 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 22 January 2021 (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 5 February 2021.

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              0.64%       34,235,459            4.38%          4,590,910 
 James Campbell         412,545              0.06%        1,311,406            0.17%            412,545 
 Total                5,003,455              0.70%       35,546,865            4.55%          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 781,721,902 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 781,721,902. 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.

A copy of this announcement is available on the Company's website, at www.botswanadiamonds.co.uk

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] 
Beaumont Cornish Limited - Broker 
 Roland Cornish 
 Felicity Geidt                        [phone] 
First Equity Limited - Joint Broker 
 Jason Robertson                       [phone] 
Blytheweigh - PR                       [phone] 
 Megan Ray                              [phone] 
 Rachael Brooks                         [phone] 
 Said Izagaren                          [phone] 
 Naomi Holmes                           [phone] 
Teneo 
 Luke Hogg                               [phone] 
 Alan Tyrrell                            [phone] 
 Ross Murphy                             [phone] 
 

www.botswanadiamonds.co.uk

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

 
 1    Details of t he p erson disc harging managerial responsib ilities 
       / p erson closely associated 
 a)   Name                           James Campbell 
     -----------------------------  ------------------------------------------------------------- 
 2    Reason for notification 
     -------------------------------------------------------------------------------------------- 
 a)   Position / status              CEO 
     -----------------------------  ------------------------------------------------------------- 
 b)   I nitial notification          Initial 
       /Amendment 
     -----------------------------  ------------------------------------------------------------- 
 3    Details of t he issu er, e mission allow a n ce m a r k et participan 
       t, au ct ion plat for m, au ction eer or auc tion monitor 
     -------------------------------------------------------------------------------------------- 
 a)   Name                           Botswana Diamonds plc 
     -----------------------------  ------------------------------------------------------------- 
 b)   LEI                            213800UEF1WVQZIZRA91 
     -----------------------------  ------------------------------------------------------------- 
 4    Details of t he t ransact ion (s): section to be re p eated for ( 
       i) e a ch type of instr u m e n t; (ii) each type of transac tion; 
       (iii) each date; and ( iv) each place w h ere transactions have b 
       een condu cted 
     -------------------------------------------------------------------------------------------- 
 a)   Description of the financial   Ordinary shares of 0.25 pence each in Botswana 
       instrument, t ype of           Diamonds plc 
       instrument 
       I d e ntification code         ISIN G B00B5TFC825 
     -----------------------------  ------------------------------------------------------------- 
      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) 
                                        GBP0.006    412,545 
                                                   ----------- 
 
 
                                       Issue of Placing Warrants Price(s)    Volumes(s) 
                                        n.a.        412,545 
                                                   ----------- 
     -----------------------------  ------------------------------------------------------------- 
 d)   Aggregated information         n/a 
     -----------------------------  ------------------------------------------------------------- 
 e)   Date of the transaction        22 January 2021 
     -----------------------------  ------------------------------------------------------------- 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------------------------------- 
 
 
 1    Details of t he p erson disc harging managerial responsib ilities 
       / p erson closely associated 
 a)   Name                           Jim Finn 
     -----------------------------  -------------------------------------------------------------- 
 2    Reason for notification 
     --------------------------------------------------------------------------------------------- 
 a)   Position / status              Director 
     -----------------------------  -------------------------------------------------------------- 
 b)   I nitial notification          Initial 
       /Amendment 
     -----------------------------  -------------------------------------------------------------- 
 3    Details of t he issu er, e mission allow a n ce m a r k et participan 
       t, au ct ion plat for m, au ction eer or auc tion monitor 
     --------------------------------------------------------------------------------------------- 
 a)   Name                           Botswana Diamonds plc 
     -----------------------------  -------------------------------------------------------------- 
 b)   LEI                            213800UEF1WVQZIZRA91 
     -----------------------------  -------------------------------------------------------------- 
 4    Details of t he t ransact ion (s): section to be re p eated for ( 
       i) e a ch type of instr u m e n t; (ii) each type of transac tion; 
       (iii) each date; and ( iv) each place w h ere transactions have b 
       een condu cted 
     --------------------------------------------------------------------------------------------- 
 a)   Description of the financial   Ordinary shares of 0.25 pence each in Botswana 
       instrument, t ype of           Diamonds plc 
       instrument                     ISIN G B00B5TFC825 

       I d e ntification code 
     -----------------------------  -------------------------------------------------------------- 
      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) 
                                        GBP0.006    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        22 January 2021 
     -----------------------------  -------------------------------------------------------------- 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  -------------------------------------------------------------- 
 

ENDS

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January 22, 2021 02:00 ET (07:00 GMT)