Botswana Diamonds PLC £868,000 Fundraising (9608M)
03 August 2017 - 4:00PM
UK Regulatory
TIDMBOD
RNS Number : 9608M
Botswana Diamonds PLC
03 August 2017
3(rd) August 2017
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
v Directors and Existing Irish Shareholders to Subscribe
GBP868,000 in Proposed Fundraising
v Funds to be Used to Bring Vutomi Project to Inferred
Resource
John Teeling, Chairman, commented "We are delighted with the
response from existing shareholders to this funding.
The Vutomi project at Frischgewaagt is very exciting. We, as
directors, and our family, are happy to support Botswana Diamonds
and delighted that many of our colleagues agree with us."
The board of Botswana Diamonds (AIM: BOD) is pleased to announce
that it has raised GBP543,000. A private placing of 43,440,000
shares at 1.25p a share raised GBP543,000. The cash was raised from
directors' families and investors in Ireland.
Proposed Subscription and Exercise of Warrants by Directors and
Other Parties
In addition to the placing the Board has been advised that John
Teeling, James Finn and David Horgan intend to subscribe for
2,400,000, 1,200,000 and 1,200,000 new ordinary share respectively
on the same terms as the placing to raise GBP60,000.
The board has also been advised that 31,244,300 warrants will be
exercised following the placing at GBP0.0085 a share to raise
GBP265,576.
Use of Proceeds
The proceeds raised will be used to bring the Frischgewaagt
project to Inferred Resource status and to continue our Botswana
exploration activities.
Total Voting Rights
The Placing shares will rank pari passu with the Company's
existing ordinary shares. Application will be made for the Placing
Shares to be admitted to trading on AIM and it is expected that
such admission will become effective on or around 9(th) August
2017.
Following the issue of the Placing Shares there will be a total
of 423,002,908 ordinary shares of 0.25p each in issue with each
share carrying the right to one vote. The above figure may be used
by shareholders 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 Company under the FCA's
Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
ENDS
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
James Campbell, Managing
Director +27 83 457 3724
Jim Finn, Director
Northland Capital Partners
Limited
David Hignell/Gerry Beaney
(Corporate Finance) +44 (0) 203 861 6625
John Howes (Broking)
Dowgate Capital Stockbrokers
Limited
Jason Robertson +44 (0) 203 903 7725
Blytheweigh +44 (0) 207 138 3204
Camilla Horsfall +44 (0) 781 784 1793
Nick Elwes +44 (0) 783 185 1855
Teneo PSG
Ciaran Flynn +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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