Armadale Capital Plc REPLACEMENT: Exercise of Warrants and Issue of Equity
December 27 2019 - 7:00AM
UK Regulatory
TIDMACP
Armadale Capital Plc ('Armadale' or 'the Company')
Exercise of Warrants and Issue of Equity
Armadale, the AIM quoted investment company focused on natural
resource projects in Africa, announces that it has received a
notification from a warrant holder to exercise warrants over
453,749 ordinary shares of nominal value 2.2p per share in the
capital of the Company ('Ordinary Shares'), providing the Company
with gross proceeds of GBP9,982.47.
Application will be made to the London Stock Exchange to admit
the 453,749 new Ordinary Shares to trading on AIM. Admission of the
new Ordinary Shares is expected to occur on the 31 December 2019
('Admission'). The new Ordinary Shares will rank pari passu with
the existing Ordinary Shares.
Following Admission, the issued share capital of the Company
will be 403,563,230 Ordinary Shares and this figure may be used by
shareholders as a denominator for the calculations by which they
will determine if they are required to notify their interest in, or
change to their interest, the Company, under the Disclosure
Guidance and Transparency Rules published by the UK Financial
Conduct Authority. There are no Ordinary Shares held in Treasury.
Each Ordinary Share entitles the holder to a single vote at general
meetings of the Company.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
**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: SVS Securities +44 20 3700 0093
Tom Curran / Ben Tadd
Press Relations: St Brides Partners Ltd +44 20 7236 1177
Isabel de Salis / Cosima Akerman
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 focus. The Project is located
in a highly prospective region with a high-grade JORC compliant
Indicated and inferred mineral resource estimate of 51.1Mt @ 9.3%
TGC, making it 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191227005147/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
December 27, 2019 08:00 ET (13:00 GMT)
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