Share Name Share Symbol Market Type Share ISIN Share Description
Mila Resources Plc LSE:MILA London Ordinary Share GB00BD4FCK53 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 2.60 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.3 -1.1 - 1

Mila Resources PLC Amendment to Terms of the Warrants

04/12/2020 7:00am

UK Regulatory (RNS & others)

Mila Resources (LSE:MILA)
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RNS Number : 5126H

Mila Resources PLC

04 December 2020

Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

4 December 2020

Mila Resources Plc ("Mila Resources" or "the Company")

Amendment to Terms of the Warrants

Mila Resources, a London Stock Exchange traded natural resource focused company, is pleased to announce that it has amended the terms of certain warrants granted at the time of its IPO on 7 October 2016 by extending the life of certain warrants. The series 1 warrants granted to the founders will expire on 31 December 2020 as scheduled.

Warrant Amendments

 Warrant               Current terms           Revised terms 
 Series 1 (Founders)   Exercise price of 5p    No revision - will 
                        and due to expire on    lapse on 31 December 
                        31 December 2020        2020 
                      ----------------------  ---------------------- 
 Series 2              Exercise price of 5p    Expiration extended 
                        and due to expire on    31 December 2022 
                        31 December 2020 
                      ----------------------  ---------------------- 
 IPO Investors         Exercise price of 10p   Expiration extended 
                        and due to expire on    to 31 December 2022 
                        31 December 2020 
                      ----------------------  ---------------------- 

Mark Stephenson commented:

"I am mindful that we have long list of loyal shareholders that have supported the Company since its IPO in 2016 and continue to do so particularly with regard to our recently announced transaction with New Generation Minerals ("NGM"). Therefore, we have decided to vary the terms of the warrants to ensure our long standing shareholders are able to utilise their warrants following the closing of the transaction. Moreover, we are moving forward swiftly with NGM and the bulk of the due diligence has already been completed, therefore, we are targeting to approve the prospectus with the FCA early in the new year"

For further information please contact:

   Mila Resources Plc                     Tel: +44 (0)1444 471 833 
   Mark Stephenson (Director) 
   Brandon Hill Capital Limited           Tel: +44 (0)20 3463 5000 
   Jonathan Evans (Corporate Finance)     jonathan.evans@brandonhillcapital.com 

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(END) Dow Jones Newswires

December 04, 2020 02:00 ET (07:00 GMT)

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