W Resources PLC Issue of Shares to Creditors (6645B)

TIDMWRES

RNS Number : 6645B

W Resources PLC

09 October 2020

9 October 2020

W Resources Plc

("W" or the "Company")

Issue of Shares to Creditors

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, announces that it has issued 397,689,658 ordinary shares of 0.1p per share ("Ordinary Shares") at a deemed price of 0.123p per Ordinary Share to three creditors to settle amounts totalling GBP489,158. This relates to technical and professional services related fees.

Application will be made for the new Ordinary Shares (representing 5.5% of the Company's enlarged issued share capital) to be admitted to trading on AIM with admission expected to occur on or around 16 October 2020 .

Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 7,172,920,404 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 7,172,920,404 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

 
 W Resources Plc                  Grant Thornton UK LLP 
  Michael Masterman                Colin Aaronson / Jen Clarke / 
  c/o Alma PR                      Seamus Fricker 
  www.wresources.com               T: [phone] 
 Joint Broker                     Joint Broker 
  Turner Pope Investments (TPI)    Alternative Resource Capital / 
  Ltd                              Shard Capital 
  Andy Thacker / Zoe Alexander     Alex Wood 
  T: [phone]          T:[phone] 
  www.turnerpope.com               www.altrescap.com 
                                   Damon Heath 
                                   T:[phone] 
                                   www.shardcapital.com 
 Alma PR 
  Justine James 
  T: [phone] 
  M: [phone] 
  [e-mail] 
 

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October 09, 2020 06:18 ET (10:18 GMT)