Botswana Diamonds PLC Placing to raise £500,000 (4249X)
06 May 2016 - 4:00PM
UK Regulatory
TIDMBOD
RNS Number : 4249X
Botswana Diamonds PLC
06 May 2016
6(th) May 2016
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Placing to raise GBP500,000
The Directors of Botswana Diamonds (AIM: BOD) are pleased to
announce that the Company has raised GBP500,000 (before expenses)
via the placing of 33,333,333 new ordinary shares (the "Placing
Shares") with new and existing investors at a price of 1.5p per
Placing Share (the "Placing"). The Placing Shares represent
approximately 9.9% of the Company's issued share capital as
enlarged by the Placing.
The net proceeds of the Placing will fund ongoing diamond
exploration in Botswana which is being operated by Alrosa, the
Company's 50:50 joint venture partner, and will also provide the
Company with additional working capital.
The Placing shares will rank pari passu with the Company's
existing ordinary shares of 0.25p each. Application will be made
for the Placing Shares to be admitted to trading on AIM
("Admission") and it is expected that such Admission will become
effective on or around 20(th) May 2016.
Following the Admission of the Placing Shares, there will be a
total of 336,975,831 ordinary share of 0.25p each in issue with
each share carrying the right of 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 change to their interest in, the Company under the
FCA's Disclosure and Transparency Rules.
John Teeling, Chairman, commented "We have a very active ongoing
drilling, sampling and geophysics programme on our ground in
Botswana. We expect this work to continue through the rest of 2016.
This placing ensures we are fully funded."
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
Jim Finn, Director
Dipti Mehta
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) 129 351 7744
Blytheweigh +44 (0) 207 138 3204
Camilla Horsfall +44 (0) 781 784 1793
PSG Plus
Colm Heatley +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
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