West African Minerals Corporation Director's Dealing (7144O)
11 February 2016 - 6:00PM
UK Regulatory
TIDMWAFM
RNS Number : 7144O
West African Minerals Corporation
11 February 2016
11 February 2016
For immediate release
West African Minerals Corporation
("WAFM" or the "Company")
Director's dealing
The Company announces that it was informed on 10 February 2016
that Plinian Guernsey Limited ("Plinian Guernsey") transferred on
10 February 2016 its entire holding of ordinary shares in the
Company to its parent company Plinian Capital Limited ("Plinian
Capital"). Brad Mills, a director of the Company, is the
controlling shareholder of Plinian Guernsey and also the
controlling shareholder of Plinian Capital.
As part of an internal reorganisation, Plinian Guernsey has
transferred 32,353,998 ordinary shares of no par value in the
Company to Plinian Capital ("WAFM Shares") at their carrying value
in Plinian Guernsey's accounts (being US$2,335,605, equivalent to
approximately 5 pence per WAFM Share). Following the transfer of
the WAFM Shares, Plinian Guernsey has no remaining holding of
shares in the Company.
Brad Mills' interest in the share capital of the Company is not
affected by the transfer, and remains as follows:
Shareholding % interest Number of Term (from Exercise
in the issued Options May 2014) Price (pence)
share capital
------------- ---------------- --------------- ----------- ---------------
43,655,233 11.45% 4,700,000 10 yrs 10 pence
------------- ---------------- --------------- ----------- ---------------
Number of 2 years Exercise
Warrants (expiring Price (pence)
on 14 February
2016)
------------- ---------------- --------------- ----------- ---------------
5,071,429 2 yrs 10 pence
------------- ---------------- --------------- ----------- ---------------
Note: Brad Mills' interest comprises 1,158,377 Shares that he
owns directly; 32,353,998 Shares that are owned by Plinian Capital
of which Brad Mills is the controlling shareholder; and a further
10,142,858 Shares that are owned by CE Mining Limited, which is 50
per cent. owned by Plinian Guernsey (CEM) Limited (of which Brad
Mills is the controlling shareholder), together with warrants to
subscribe for 5,071,429 Shares that are owned by CE Mining Fund II
WAFM Limited (a special purpose company established by CE Mining GP
II Limited ("Fund GP") in its capacity as general partner of CE
Mining Fund II L.P.), which is 100% owned by Fund GP, of which Brad
Mills is the indirect controlling shareholder.
For further information contact:
West African Minerals +44 (0) 20
Corporation Brad Mills 7730 7486
Beaumont Cornish Limited Roland Cornish +44 (0)20
(Nominated Adviser) Michael Cornish 7628 3396
SP Angel Corporate Ewan Leggat/Katy +44 (0) 20
Finance LLP (Broker) Birkin 3470 0500
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 11, 2016 02:00 ET (07:00 GMT)
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