16 September
2024
African Pioneer Plc
("African Pioneer" or "the
Company")
Issue of Equity &
TVR
African Pioneer plc ("AFP" or the "Company") the
exploration and resource development company with advanced projects
in Namibia, Botswana, and Zambia, announces that in accordance with
the authority granted at its Annual General Meeting on 1 August
2024 it is issuing 949,923 new Ordinary Shares of no par value
("Ordinary Shares") (the
"Consultancy Fee Shares")
at the VWAP of the African Pioneer share price during the periods
during which the consultancy fees accrued to settle a total of
£21,940 of consultancy fees at an average VWAP of 2.31 pence per
new Ordinary Share as per the table below:
|
Period
|
Fees
|
VWAP
during the Periods per share
|
No. of
shares
|
|
6 mths to 9 March 2024
|
£
5,000
|
£ 0.0219
|
228,311
|
|
6 mths to 30 June 2023
|
£
5,400
|
£ 0.0266
|
203,008
|
|
6 mths to 31 December 2023
|
£
5,900
|
£ 0.0211
|
279,621
|
|
6 mths to 30 June 2024
|
£
5,640
|
£ 0.0236
|
238,983
|
|
Total / Average /
Total
|
£ 21,940
|
£ 0.0231
|
949,923
|
Application to trading:
Applications will be made to the Financial Conduct Authority
("FCA") and the London Stock Exchange for the 949,923 new Ordinary
Shares, to be admitted to the Official List and to trading on the
London Stock Exchange's main market for listed securities (the
"Admission"). It is expected that Admission will become effective
and that dealings in the Consultancy Fee Shares will commence at
8.00 a.m. on or around 20 September 2024.
Issued Share Capital: Following
the issue of the 949,923 new Ordinary Shares, the Company's total
issued share capital will consist of 228,991,101 Ordinary Shares
with voting rights. The Company does not hold any Ordinary Shares
in treasury and accordingly there are no voting rights in respect
of any treasury shares.
Total Voting Rights On
Admission, the above mentioned figure of 228,991,101 Ordinary
Shares may be used by shareholders in the Company 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, African Pioneer under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
For further information, please
contact:
|
African Pioneer Plc
Colin Bird, Chairman
|
Tel +44 (0) 20 7581 4477
|
|
Beaumont Cornish Limited (Financial
Adviser)
Roland Cornish/Asia
Szusciak
|
Tel +44 (0) 20 7628 3396
|
|
Novum Securities Limited
(Broker)
Jon Belliss
|
Tel +44 (0) 20 7399 9400
|
or visit
https://africanpioneerplc.com/
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR").
Beaumont
Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is Financial Adviser to
the Company in relation to the matters referred herein. Beaumont
Cornish Limited is acting exclusively for the Company and for no
one else in relation to the matters described in this announcement
and is not advising any other person and accordingly will not be
responsible to anyone other than the Company for providing the
protections afforded to clients of Beaumont Cornish Limited, or for
providing advice in relation to the contents of this announcement
or any matter referred to in it.