Botswana Diamonds PLC £868,000 Fundraising Update (9615M)
August 03 2017 - 1:15AM
UK Regulatory
TIDMBOD
RNS Number : 9615M
Botswana Diamonds PLC
03 August 2017
3(rd) August 2017
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
v Directors and Existing Irish Shareholders Subscribe GBP868,000
in Fundraising
v Funds to be Used to Bring Vutomi Project to Inferred
Resource
Botswana Diamonds is also pleased to announce that pursuant to
the receipt of a conversion notices from holders of 31,244,300
warrants, it has today issued 31,244,300 ordinary shares of 0.25p
each ("Ordinary Shares") at the exercise price of 0.85 pence per
new share ("New Share(s)") for a total of GBP265,576. Of this the
directors are subscribing GBP124,000.
Following the announcement released earlier today in relation to
the placing of 43,440,000 shares to raise GBP543,000 Botswana
Diamonds is pleased to announce that John Teeling, James Finn and
David Horgan have subscribed for 2,400,000, 1,200,000 and 1,200,000
new ordinary shares respectively at 1.25p per share to raise
GBP60,000.
As a result the company has now raised GBP868,576 by the issue
of 79,484,300 new ordinary shares.
Certain directors and connected persons are subscribing for
Placing Shares, as set out in the table below:
Director Shareholding Number of Placing Shareholding % of enlarged
prior Shares following share
to the the placing capital
placing
-------------- ------------- --------------------------------- ------------- --------------
Cash subscription Exercise
of warrants
-------------- ------------- ------------------ ------------- ------------- --------------
John Teeling 44,154,868 2,400,000* 7,529,450** 54,084,318 11.78
-------------- ------------- ------------------ ------------- ------------- --------------
James Finn 19,147,689 1,200,000 4,705,950 25,053,639 5.46
-------------- ------------- ------------------ ------------- ------------- --------------
David Horgan 12,231,034 1,200,000 2,352,950 15,783,984 3.44
-------------- ------------- ------------------ ------------- ------------- --------------
4,800,000 14,588,350
-------------- ------------- ------------------ ------------- ------------- --------------
*Includes 1,200,000 Placing Shares subscribed for by Mrs Deirdre
Teeling
**Includes 1,000,000 warrants exercised by Mrs Deirdre
Teeling.
Application has been made for the New Shares, which will rank
pari passu with the existing Ordinary Shares, to be admitted to
trading on AIM and it is expected that this will take place on or
around 9(th) August 2017 ("Admission").
Following the Admission of the 36,044,300 New Shares, Botswana
Diamonds will have 459,047,208 Ordinary Shares in issue which will
also represent the total number of voting rights in the Company.
The above figure 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 to their interest
in, the Company under the FCA's Disclosure and Transparency
Rules.
Use of Proceeds
The proceeds raised will be used to bring the Frischgewaagt
project to Inferred Resource status and to continue our Botswana
exploration activities.
John Teeling, Chairman, commented "Botswana Diamonds has
exciting projects. We are happy to invest in them."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
ENDS
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
James Campbell, Managing
Director +27 83 457 3724
Jim Finn, Director
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) 203 903 7725
Blytheweigh +44 (0) 207 138 3204
Camilla Horsfall +44 (0) 781 784 1793
Nick Elwes +44 (0) 783 185 1855
Teneo PSG
Ciaran Flynn +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
END
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