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THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES
ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION,
SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO
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BEOWULF MINING PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER
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BASIS OF, OR BE RELIED ON INCONNECTION WITH ANY INVESTMENT DECISION
IN RESPECT OF BEOWULF MINING PLC.
The
information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation ("MAR") (EU) No. 596/2014, as incorporated into UK law
by the European Union (Withdrawal) Act 2018 (as amended). Upon the
publication of this announcement, through the agency of the contact
person of the Company set out below, this inside information is now
considered to be in the public domain.
12 March
2024
Beowulf Mining plc
("Beowulf" or the
"Company")
Postponement of Subscription
period
Beowulf (AIM: BEM; Spotlight: BEO), informs
that the subscription period in the Company's upcoming rights issue
of Swedish Depository Receipts ("SDR") ("Rights Issue") will be
postponed by one day. The subscription period is therefore expected
to start on 14 March 2024, instead of the earlier expected 13 March
2024. Please see an updated indicative timetable below.
Updated summarised indicative timetable for the
Rights Issue
|
General Meeting
|
1:00 p.m. (GMT) on 5
March 2024
|
|
Results of General Meeting announced through
RNS
|
5 March
2024
|
|
Record date for the share
sub-division
|
6.00 p.m.
(GMT) on 5 March 2024
|
|
Admission and dealings in
sub-divided shares
|
8.00 a.m.
(GMT) on 6 March 2024
|
|
The last day of trading in SDRs with
preferential rights
|
6 March
|
|
The first day of trading in SDRs without
preferential rights
|
7 March
|
|
Rights Issue Record Date for the Rights
Issue
|
8 March
|
|
Time and date from which conversion of SDRs
into Ordinary Shares (and vice versa) is permitted again
|
8.00 a.m. (Stockholm
time) on 11 March
|
|
Publication of the Prospectus
|
13 March
|
|
Start of the subscription period for the Rights
Issue and trading in the Swedish Subscription Rights and Paid
Subscribed SDRs
|
14 March
|
|
Last day of trading in the Swedish Subscription
Rights
|
25 March
|
|
Subscription period for the Rights Issue
ends
|
28 March
|
|
Announcement of the results of the Rights
Issue
|
on or around 3
April
|
|
Announcement of the results of the Capital
Raise
|
on or around 3
April
|
|
Last day of trading in the Paid Subscribed
SDRs
|
on or around 17
April
|
|
Record date for conversion of the Paid
Subscribed SDRs into New SDRs
|
on or around 19
April
|
|
Swedish Admission and commencement of dealings
in the New SDRs
|
on or around 19
April
|
Updated summarised indicative timetable for the
UK Issue
|
Time and date from which conversion of Ordinary
Shares into SDRs (and vice versa) is permitted again
|
6 March
|
|
Start of the subscription period for the UK
Issue
|
14 March
|
|
Subscription period for the UK Issue
ends
|
2.00 p.m. (GMT) on 28
March
|
|
Announcement of the results of the Capital
Raise
|
on or around 3
April
|
|
AIM Admission and commencement of dealings in
the New Ordinary Shares
|
8.00 a.m.
(BST)
on 18
April
|
|
New Ordinary Shares credited to CREST stock
accounts (uncertificated Shareholders only)
|
after 8.00 a.m.
(BST)
on 18
April
|
|
Posting of certificates for the New Ordinary
Shares (certificated Shareholders only)
|
on or around 2
May
|
Advisers
In relation to the Rights Issue, the Company
has engaged Evli Plc as Swedish financial adviser, Bird & Bird
Advokat KB as Swedish legal advisor and Aqurat Fondkommission AB as
Swedish issuing agent.
Enquiries:
Beowulf Mining
plc
Ed Bowie, Chief Executive
Officer
ed.bowie@beowulfmining.com
Evli
Plc
(Swedish financial adviser)
Mikkel Johannesen / Lars Olof Nilsson
Tel: +46 (0) 73 147 0013
SP
Angel
(Nominated Adviser & Joint
Broker)
Ewan Leggat / Stuart Gledhill / Adam
Cowl Tel: +44
(0) 20 3470 0470
Alternative
Resource Capital
(Joint Broker)
Alex
Wood
Tel: +44 (0) 20 7186 9004
BlytheRay
Tim Blythe / Megan Ray
Tel: +44 (0) 20 7138 3204
Cautionary
Statement
Statements and assumptions made in this
document with respect to the Company's current plans, estimates,
strategies and beliefs, and other statements that are not
historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are
not limited to, those using words such as "may", "might", "seeks",
"expects", "anticipates", "estimates", "believes", "projects",
"plans", strategy", "forecast" and similar expressions. These
statements reflect management's expectations and assumptions in
light of currently available information. They are subject to a
number of risks and uncertainties, including, but not limited to ,
(i) changes in the economic, regulatory and political environments
in the countries where Beowulf operates; (ii) changes relating to
the geological information available in respect of the various
projects undertaken; (iii) Beowulf's continued ability to secure
enough financing to carry on its operations as a going concern;
(iv) the success of its potential joint ventures and alliances, if
any; (v) metal prices, particularly as regards iron ore. In the
light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results
could differ materially from those presented and forecast in this
document. Beowulf assumes no unconditional obligation to
immediately update any such statements and/or forecast.