Botswana Diamonds PLC Placing to raise £370,000 (8106N)
23 January 2019 - 6:00PM
UK Regulatory
TIDMBOD
RNS Number : 8106N
Botswana Diamonds PLC
23 January 2019
23(rd) January 2019
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Placing to raise GBP370,000
Placing
The Board of Botswana Diamonds (AIM: BOD) is pleased to announce
that it has today undertaken a placing with existing and new
investors to raise GBP370,000 via the issue of 67,272,727 new
ordinary shares (the "Placing Shares"), which includes the cash
subscription by certain directors as detailed below, at a placing
price of 0.55p per Placing Share (the "Placing Price"). Each
Placing Share has one warrant attached with the right to subscribe
for one new ordinary share at 0.6p per new ordinary share for a
period of two years from 23(rd) January 2019 (the "Placing
Warrants"), being the expected date of the Placing Warrants
issue.
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 28(th) January
2019.
Use of Proceeds
The funds raised will be used to fund exploration activities
during the current year in Botswana and South Africa, which remain
ongoing, and to provide additional working capital for the
Company.
Director Subscription
Certain directors are subscribing for Placing Shares (with
Placing Warrants attached), as set out in the table below:
Director Subscription Subscription Enlarged % of enlarged Placing Warrants
of Placing as % of current shareholding share capital
shares issued share following
capital the placing
---------------- ------------- ----------------- -------------- --------------- -----------------
James Finn 4,590,910 0.90% 29,644,549 5.14% 4,590,910
James Campbell 412,545 0.08% 898,861 0.16% 412,545
Total 5,003,455 0.98% 30,543,410 5.30% 5,003,455
---------------- ------------- ----------------- -------------- --------------- -----------------
Total Voting Rights
In conformity with the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority ("FCA"), the Company
announces the following:
Following the issue of the Placing Shares, there will be a total
of 576,555,235 ordinary shares of 0.25p each in issue with each
ordinary share carrying the right to one vote ("Ordinary Shares").
The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with
voting rights is 576,555,235. 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.
Special note concerning the Market Abuse Regulation
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014
("MAR"). Market soundings, as defined in MAR, were taken in respect
of the Placing, with the result that certain persons became aware
of inside information, as permitted by MAR. That inside information
is set out in this announcement. Therefore, those persons that
received inside information in a market sounding are no longer in
possession of inside information relating to the Company and its
securities. The person who arranged for the release of this
announcement on behalf of the Company was Jim Finn, Director.
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
James Campbell, Managing Director +27 83 457 3724
Jim Finn, Director +353 1 833 2833
Beaumont Cornish - Nominated Adviser
Michael Cornish
Roland Cornish +44 (0) 020 7628 3396
SVS Securities Plc - Broker
Tom Curran
Ben Tadd +44 (0) 20 3700 0100
Blytheweigh - PR +44 (0) 20 7138 3206
Julia Tilley +44 (0) 207 138 3553
Fergus Cowan +44 (0) 207 138 3208
Teneo
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulations, provides further detail in
respect of the transaction as described above.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Campbell
-------------------------- ---------------------------------------------------------------
2 Reason for notification
-------------------------------------------------------------------------------------------
a) Position / status CEO
-------------------------- ---------------------------------------------------------------
b) Initial notification Initial
/Amendment
-------------------------- ---------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------
a) Name Botswana Diamonds plc
-------------------------- ---------------------------------------------------------------
b) LEI 213800UEF1WVQZIZRA91
-------------------------- ---------------------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 0.25 pence each
financial instrument, in Botswana Diamonds plc
type of instrument
Identification code
ISIN GB00B5TFC825
-------------------------- ---------------------------------------------------------------
Nature of the transaction Subscription for new Ordinary Shares
and issue of Placing Warrants
-------------------------- ---------------------------------------------------------------
Price(s) and volumes(s)
Subscription for new Ordinary Shares Price(s) Volumes(s)
GBP0.0055 412,545
-----------
Issue of Placing Warrants Price(s) Volumes(s)
n.a. 412,545
-----------
-------------------------- ---------------------------------------------------------------
d) Aggregated information n/a
-------------------------- ---------------------------------------------------------------
e) Date of the transaction 23 January 2019
-------------------------- ---------------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- ---------------------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jim Finn
-------------------------- ---------------------------------------------------------------
2 Reason for notification
-------------------------------------------------------------------------------------------
a) Position / status Director
-------------------------- ---------------------------------------------------------------
b) Initial notification Initial
/Amendment
-------------------------- ---------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------
a) Name Botswana Diamonds plc
-------------------------- ---------------------------------------------------------------
b) LEI 213800UEF1WVQZIZRA91
-------------------------- ---------------------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 0.25 pence each
financial instrument, in Botswana Diamonds plc
type of instrument
Identification code
ISIN GB00B5TFC825
-------------------------- ---------------------------------------------------------------
Nature of the transaction Subscription for new Ordinary Shares
and issue of Placing Warrants
-------------------------- ---------------------------------------------------------------
Price(s) and volumes(s)
Subscription for new Ordinary Shares Price(s) Volumes(s)
GBP0.0055 4,590,910
-----------
Issue of Placing Warrants Price(s) Volumes(s)
n.a. 4,590,910
-----------
-------------------------- ---------------------------------------------------------------
d) Aggregated information n/a
-------------------------- ---------------------------------------------------------------
e) Date of the transaction 23 January 2019
-------------------------- ---------------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- ---------------------------------------------------------------
ENDS
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END
MSCLLFLDLSIFFIA
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