Xtract Resources plc Issue of Equity (6881X)

TIDMXTR

RNS Number : 6881X

Xtract Resources plc

20 December 2019

For immediate release

20 December 2019

Xtract Resources Plc

("Xtract" or the "Company")

Issue of equity

The Board of Xtract announces that it has today issued 18,795,236 new Ordinary Shares of 0.02p each in the capital of the Company ("New Shares") at an issue price of 0.8395p per Ordinary Share to KPZ International ("KPZ"). As previously announced on 21 October 2019, the Company had informed KPZ that it intended to exercise its option to act as contractor for the Kalengwa Processing project on the copper large scale mining license number 24401-HQ-LEL located in the central part of the Republic of Zambia. Under the Kalengwa Processing agreement, the Company had agreed to pay US$200,000 to KPZ on exercising its option to act as operator, to be settled through the issuance of new Xtract ordinary shares.

Application will be made for admission of the New Shares to trading on AIM on or around 2 January 2020. The New Shares will rank pari passu in all respects with the Company's existing issued ordinary shares.

Total Voting Rights

On Admission of the New Shares, the Company will have 457,303,288 Ordinary Shares in issue with voting rights. Xtract does not currently hold any shares in treasury. Accordingly, this figure of 457,303,288 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.

Enquiries:

 
 Xtract Resources Plc         Colin Bird,           [phone] 
                               Executive Chairman    www.xtractresources.com 
 Beaumont Cornish Limited     Roland Cornish        [phone] 
  Nominated Adviser and        Michael Cornish       www.beaumontcornish.co.uk 
  Joint Broker                 Felicity Geidt 
 
   Novum Securities Limited     Colin Rowbury         [phone] 
   Joint Broker                                       www.novumsecurities.com 
 
 
 
 

ENDS

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December 20, 2019 08:00 ET (13:00 GMT)