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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Xtract Resources Plc | LSE:XTR | London | Ordinary Share | GB00BYSX2795 | ORD 0.02P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.00 | 0.90 | 1.10 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 2.81M | -1.83M | -0.0021 | -4.76 | 8.56M |
TIDMXTR
RNS Number : 7355T
Xtract Resources plc
16 October 2017
For immediate release
16 October 2017
Xtract Resources Plc
("Xtract" or the "Company")
Auroch loan note conversion
Total Voting Rights
The Board of Xtract Resources Plc ("Xtract" or the "Company") announces that Auroch Exploration (Pty) Ltd ("Auroch") has today converted US$250,000 of the outstanding loan agreement with Auroch.
As announced on 9 February 2017, the Company reached an agreement regarding the outstanding amounts owed by the Company to Auroch in relation to the acquisition of the Manica Gold Project and, inter alia, agreed to issue unsecured Convertible Loan Notes to Auroch to the total value of US$748,136 (which was repaid in full by 28 March 2017). A further US$1,000,000 remained outstanding under the loan agreement (subsequently to be replaced with a convertible note on substantially the same terms as the Convertible Loan Notes following approval of shareholders of the relevant authorities at the General Meeting held on 13 March 2017). On 19 September 2017, Auroch converted US$200,000 and has today converted a further $250,000 of the outstanding amount under the loan agreement. The Company has therefore today issued 7,873,758 new ordinary shares to Auroch at an issue price of 2.4p per new ordinary share. Following this conversion, US$610,000 (including accrued interest) will remain outstanding under the loan agreement.
Admission to Aim
Application will be made for admission of the 7,873,758 new ordinary shares to trading on AIM ("Admission"), to be admitted to trading on or around 20 October 2017. 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 276,479,586 Ordinary Shares in issue with voting rights. Xtract does not currently hold any shares in treasury. Accordingly, this figure of 276,479,586 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.
Other
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Further details are available from the Company's website which details the company's project portfolio as well as a copy of this announcement: www.xtractresources.com
Enquiries:
Xtract Resources Colin Bird, Executive +44 (0)20 3416 Plc Chairman 6471 Michael Cornish Roland Cornish +44 (0)207628 Beaumont Cornish Felicity Geidt 3369 Email: corpfin@b-cornish.co.uk +44 (0)207 382 Beaufort Securities Jon Belliss 8300
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
October 16, 2017 11:30 ET (15:30 GMT)
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