Botswana Diamonds PLC Placing to raise £250,000 (0633B)
28 January 2020 - 6:00PM
UK Regulatory
TIDMBOD
RNS Number : 0633B
Botswana Diamonds PLC
28 January 2020
28(th) January 2020
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Placing to raise GBP250,000
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 GBP250,000 via the issue of 41,666,667 new
ordinary shares (the "Placing Shares"), at a placing price of 0.6p
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
28(th) January 2020 (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 11(th) February
2020.
Use of Proceeds
The funds raised will be used to fund exploration activities
during the current year in Botswana, Zimbabwe and South Africa,
which remain ongoing, and to provide additional working capital for
the Company.
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 669,221,902ordinary 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 669,221,902. 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
Beaumont Cornish Limited - Broker
Roland Cornish
Felicity Geidt +44 (0) 207 628 3396
Blytheweigh - PR +44 (0) 207 138 3206
Megan Ray +44 (0) 207 138 3206
Rachael Brooks +44 (0) 207 138 3206
Teneo
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
Thomas Shortall +353 (0) 1 661 4055
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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