Capital Metals PLC Issue of Equity (0789O)
February 05 2021 - 01:00AM
UK Regulatory
TIDMCMET
RNS Number : 0789O
Capital Metals PLC
05 February 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
5 February 2021
CAPITAL METALS plc
("CMET" or the "Company")
Issue of Equity
Capital Metals Plc (AIM: CMET) is a natural resources company
focussed on the development of the Eastern Minerals Project in Sri
Lanka, one of the highest grade mineral sands projects globally
.
The Company announces the issue of 247,891 ordinary shares of
0.2 pence each ("the Shares") to settle the interest component of
convertible bonds ("the Convertible Bonds") previously issued by
its subsidiary, Capital Metals Limited. The Convertible Bonds were
detailed in the Company's admission document published on 23
December 2020 ("Admission Document"). The conversion of interest on
the Convertible Bonds to shares was applicable at the completion of
the RTO on 13 January 2021 for a deemed value of US$27,888.
Following the issue of the Shares, the settlement of the
Convertible Bonds has now been completed.
The Shares will represent 0.14 per cent, of the ordinary share
capital of the Company, and are being issued to eight long term
investors in the Eastern Minerals Project, who collectively own 4.8
per cent of the Company. Additionally, the Company has issued 1
warrant for every share issued, each with an exercise price of 15.6
pence per share and an exercise period of 3 years (expiring 13
January 2024), in accordance with the terms previously agreed with
the holders of the Convertible Bonds, as also set out in the
Admission Document.
Application will be made for the admission to trading on AIM
("Admission") for the 247,891 ordinary shares. The ordinary shares
will rank pari passu in all respects with the existing ordinary
shares of the Company. Admission is expected at 8.00 a.m. on or
around 10 February 2021.
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 172,436,766 ordinary shares with one voting right each. As
the Company does not hold any shares in Treasury, the total number
of voting rights in the Company is also 172,436,766 and this figure
of ordinary shares may 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 share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.
For further information, please visit www.capitalmetals.com or
contact:
Capital Metals plc
Michael Frayne (Chief Executive
Officer) + 44 (0) 20 7317 6800
SPARK Advisory Partners (Nominated
Adviser)
Neil Baldwin +44 (0) 20 3368 3554
Brandon Hill Capital Limited
(Broker)
Jonathan Evans/Oliver Stansfield +44 (0) 20 3463 5000
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END
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