Armadale Capital Plc Issue of Equity
November 27 2017 - 1:00AM
UK Regulatory
TIDMACP
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector:
Investment Company
27 November 2017
Armadale Capital Plc ('Armadale' or 'the Company')
Issue of Equity
Armadale, the AIM quoted investment company focused on natural
resource projects in Africa, announces that further to the
announcement of 20 October 2017, it has allotted 500,000 ordinary
shares of 0.1p each in the capital of the Company ('Ordinary
Shares') in relation to advisory fees relating to the arrangement
of the Company's financing facility.
The Company has applied for admission of the 500,000 new
Ordinary Shares to trading on AIM. Dealings are expected to become
effective on 30 November 2017 ('Admission').
Following Admission, the Company will have 243,140,034 Ordinary
Shares in issue. The Company has no shares in treasury, therefore
the figure of 243,140,034 should 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 of their
interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
**ENDS**
Enquiries:
Armadale Capital Plc +44 20 7236 1177
Tim Jones, Company Secretary
Nomad and broker: finnCap Ltd +44 20 7220 0500
Christopher Raggett / Simon Hicks
Joint Broker: Beaufort Securities Limited +44 20 7382 8300
Jon Belliss
Press Relations: St Brides Partners Ltd +44 20 7236 1177
Susie Geliher / Charlotte Page
Notes
Armadale Capital Plc is focused on investing in and developing a
portfolio of investments, targeting the natural resources and/or
infrastructure sectors in Africa. The Company, led by a team with
operational experience and a strong track record in Africa, has a
strategy of identifying high growth businesses where it can take an
active role in their advancement.
The Company owns the Mahenge Liandu graphite project in
south-east Tanzania, which is now its main focus. The Project is
located in a highly prospective region with a high-grade JORC
compliant inferred mineral resource estimate of 40.9Mt @ 9.41% TGC.
At least 32Mt of this resource has an average grade of 10.47% TGC,
one of the largest high-grade resources in Tanzania, and work to
date has demonstrated Mahenge Liandu's potential as a commercially
viable deposit with significant tonnage, high-grade coarse flake
and near surface mineralisation (implying a low strip ratio)
contained within one contiguous ore body.
Other assets Armadale has an interest in include the Mpokoto
Gold project in the Democratic Republic of Congo and a portfolio of
quoted investments.
More information can be found on the website
www.armadalecapitalplc.com
LEI: 213800495EK876JETD10Classification: 2.2 Inside
Information
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http://www.businesswire.com/news/home/20171126005050/en/
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