BWAP BWA Group plc

 
TIDMBWAP 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 
        OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. 
 
                                                                 3 October 2022 
 
                                 BWA Group PLC 
 
                          ("BWA" or the "Company") 
 
                           Conversion of Loan Notes 
 
                                Trading Update 
 
BWA Group plc [AQSE: BWAP], which has mineral exploration licences in 
both Cameroon and Canada at various stages of development and is quoted on 
London's AQSE Growth Market, announces that it has allotted a total of 
32,049,000 ordinary shares of 0.5 pence each in the Company ("Ordinary Shares 
"), at a price of 0.5 pence per share (the "New Shares"), in settlement of a 
notice of conversion received for £160,245 of convertible loan notes (the "Loan 
Notes"). The Loan Notes were issued to Gudmundur Svavarsson, as part of the 
acquisition of Kings of the North Corp., as announced on 5 September 2019. 
 
Application will be made for the New Shares to be admitted to trading on the 
AQSE Growth Market and admission is expected to become effective on 7 October 
2022 ("Admission"). 
 
On Admission, Mr Svavarsson will have an interest in a total of 32,049,000 
Ordinary Shares, equivalent to 7.03% of the issued Ordinary Shares. 
 
Total Voting Rights 
 
Following Admission, the Company will have 455,896,891 Ordinary Shares in 
issue, each share carrying the right to one vote. The Company does not hold any 
Ordinary Shares in Treasury. Following Admission, the figure of 455,896,891 
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 to their interest in, the share capital of the Company 
under the Financial Conduct Authority's Disclosure and Transparency Rules. 
 
Significant Shareholdings 
 
Following Admission, the Company is aware of the following significant and 
director shareholdings: 
 
Shareholder                             Number of Ordinary        Percentage of 
                                               Shares Held Ordinary Shares Held 
 
Directors                                      183,037,615               40.15% 
 
Richard Battersby                               94,676,314               20.77% 
 
James Butterfield                               53,419,739               11.72% 
 
Alex Borrelli                                   31,316,561                6.87% 
 
James Hogg                                       3,625,001                0.80% 
 
Other Large Shareholders 
 
G & O Energy Investments Limited                57,000,000               12.50% 
 
Mr D M Cass                                     33,532,022                7.36% 
 
Gudmundur Svavarsson                            32,049,000                7.03% 
 
Mr J Harvey                                     23,285,193                5.11% 
 
Vilhjalmur Thor Vilhjalmsson                    20,859,200                4.58% 
 
Tricastle Investments Ltd                       20,000,000                4.39% 
 
Christian Tremblay                              16,403,200                3.60% 
 
Ordinary Shares not in public                  240,037,615               52.65% 
hands 
 
Trading Update 
 
Since 30th June 2022 the following material events have occurred, all of which 
have been announced: 
 
  * The Group has been granted additional licence areas designated Nkoteng 2 
    and Dehane 2 approximately doubling the licence area available to the Group 
  * The company announced Granulometric Test results at Nkoteng 1 
 
The effect of these events has been to increase the likely net asset value of 
the business through the substantial increase in exploration area, both of 
which are contiguous with existing claim areas.  As at 31st August 2022 has 
cash balances of £8,118 and net current liabilities of £96,586. 
 
The Directors of BWA are responsible for the contents of this announcement. 
 
                                    Ends - 
 
For further information: 
 
BWA Group PLC                          +44 7770 225253 
James Butterfield            enquiries@bwagroupplc.com 
Interim Chairman 
 
 
Allenby Capital Limited               +44 20 3328 5656 
Corporate Adviser 
Nick Harriss/Freddie Wooding 
 
 
 
END 
 
 

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