Shearwater Group PLC Conversion of loan note and issue of equity (1777U)
January 13 2017 - 10:30AM
UK Regulatory
TIDMSWG
RNS Number : 1777U
Shearwater Group PLC
13 January 2017
13 January 2017
SHEARWATER GROUP PLC
(the "Company")
Conversion of loan note
Issue of equity
Director/PDMR Shareholdings
Shearwater Group plc (AIM: SWG), announces that it has received
notice of the following transactions.
David Williams, Chairman, has today transferred his interest of
GBP50,000 in the convertible loan note issued to him on 17 June
2016, to Giles Willits, Non-executive Director. The transfer does
not include the warrant attached to the loan note.
Subsequent to the above transfer, Giles Willits and the other
loan note holder have each converted the loan notes into equity at
a price of 1 pence per share, in accordance with the terms of the
loan note. In addition, David Williams and the other loan note
holder have each exercised the warrants attaching to the loan note
issue, each at a price of 2 pence per share.
Application will be made for the 20,000,000 new ordinary shares
to be admitted to trading on AIM, which is expected to take place
on 20 January 2016. The new ordinary shares will rank pari passu
with the existing ordinary shares in issue.
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the FCA, the Company confirms that, following
this issue, its issued share capital will comprise 503,750,286
Ordinary Shares of 1 pence each. All Ordinary Shares shall have
equal voting rights and none of the Ordinary Shares are held in
treasury. The total number of voting rights in the Company
immediately following Admission will therefore be 503,750,286.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
The information below, set out in accordance with the
requirements of the EU Market Abuse Regulation, provides further
detail.
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------
a) Name David Williams
--- ----------------------------------------------------------------- ----------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------
a) Position/status Chairman
--- ----------------------------------------------------------------- ----------------------------
b) Initial notification/ Amendment Initial Notification
--- ----------------------------------------------------------------- ----------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------
a) Name Shearwater Group plc
--- ----------------------------------------------------------------- ----------------------------
b) LEI N/A
--- ----------------------------------------------------------------- ----------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--- -----------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary shares of 1p each
Identification code
GB00B00T3528
--- ----------------------------------------------------------------- ----------------------------
b) Nature of the transaction Transfer of loan note
--- ----------------------------------------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
n/a 5,000,000
---------- ----------
--- ----------------------------------------------------------------- ----------------------------
d) Aggregated information
* Aggregated volume 5,000,000
GBPn/a
* Price
--- ----------------------------------------------------------------- ----------------------------
e) Date of the transaction 13 January 2017
--- ----------------------------------------------------------------- ----------------------------
f) Place of the transaction London Stock Exchange, AIM
--- ----------------------------------------------------------------- ----------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------
a) Name David Williams
--- ----------------------------------------------------------------- ----------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------
a) Position/status Chairman
--- ----------------------------------------------------------------- ----------------------------
b) Initial notification/ Amendment Initial Notification
--- ----------------------------------------------------------------- ----------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------
a) Name Shearwater Group plc
--- ----------------------------------------------------------------- ----------------------------
b) LEI N/A
--- ----------------------------------------------------------------- ----------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--- -----------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary shares of 1p each
Identification code
GB00B00T3528
--- ----------------------------------------------------------------- ----------------------------
b) Nature of the transaction Exercise of warrants
--- ----------------------------------------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
2p 5,000,000
--------- ----------
--- ----------------------------------------------------------------- ----------------------------
d) Aggregated information
* Aggregated volume 5,000,000
GBP100,000
* Price
--- ----------------------------------------------------------------- ----------------------------
e) Date of the transaction 13 January 2017
--- ----------------------------------------------------------------- ----------------------------
f) Place of the transaction London Stock Exchange, AIM
--- ----------------------------------------------------------------- ----------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------
a) Name Giles Willits
--- ----------------------------------------------------------------- ----------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------
a) Position/status Non-executive Director
--- ----------------------------------------------------------------- ----------------------------
b) Initial notification/ Amendment Initial Notification
--- ----------------------------------------------------------------- ----------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------
a) Name Shearwater Group plc
--- ----------------------------------------------------------------- ----------------------------
b) LEI N/A
--- ----------------------------------------------------------------- ----------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--- -----------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary shares of 1p each
Identification code
GB00B00T3528
--- ----------------------------------------------------------------- ----------------------------
b) Nature of the transaction Exercise of loan notes
--- ----------------------------------------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
1p 5,000,000
--------- ----------
--- ----------------------------------------------------------------- ----------------------------
d) Aggregated information
* Aggregated volume 5,000,000
GBPn/a
* Price
--- ----------------------------------------------------------------- ----------------------------
e) Date of the transaction 13 January 2017
--- ----------------------------------------------------------------- ----------------------------
f) Place of the transaction London Stock Exchange, AIM
--- ----------------------------------------------------------------- ----------------------------
Contacts:
Shearwater Group plc www.aurummining.net
David Williams +44 (0) 797 014 8016
Mo Stevens +44 (0) 780 171 2582
WH Ireland Limited Nominated Adviser & Broker
Mike Coe, Ed Allsopp +44 (0) 117 945 3470
Powerscourt aurum@powerscourt-group.com
Ben Griffiths, Andy
Jones +44 (0)20 7250 1446
This information is provided by RNS
The company news service from the London Stock Exchange
END
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