Armadale Capital PLC Exercise of Warrants and Issue of Equity (0927A)
17 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMACP
RNS Number : 0927A
Armadale Capital PLC
17 January 2020
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector:
Investment Company
17 January 2020
Armadale Capital Plc ('Armadale' or 'the Company')
Exercise of Warrants and Issue of Equity
Armadale, the AIM quoted investment company focused on natural
resource projects in Africa, announces that it has received
notifications from two warrant holder to exercise warrants over a
total of 2,722,496 ordinary shares at a price of 2.2p per share in
the capital of the Company ('Ordinary Shares'), providing the
Company with gross proceeds of GBP59,895.
Application will be made to the London Stock Exchange to admit
the 2,722,496 new Ordinary Shares to trading on AIM. Admission of
the new Ordinary Shares is expected to occur on 22 January 2020
('Admission'). The new Ordinary Shares will rank pari passu with
the existing Ordinary Shares.
Following Admission, the issued share capital of the Company
will be 406,285,726 Ordinary Shares and this figure may be used by
shareholders as a denominator for the calculations by which they
will determine if they are required to notify their interest in, or
change to their interest, the Company, under the Disclosure
Guidance and Transparency Rules published by the UK Financial
Conduct Authority. There are no Ordinary Shares held in Treasury.
Each Ordinary Share entitles the holder to a single vote at general
meetings of the Company.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
**ENDS**
Enquiries:
Armadale Capital Plc
Tim Jones, Company Secretary +44 20 7236 1177
Nomad and broker: finnCap Ltd
Christopher Raggett / Simon Hicks +44 20 7220 0500
Joint Broker: SVS Securities
Tom Curran / Ben Tadd +44 20 3700 0093
Press Relations: St Brides Partners
Ltd
Charlotte Page / Beth Melluish +44 20 7236 1177
Notes
Armadale Capital Plc is focused on investing in and developing a
portfolio of investments, targeting the natural resources and/or
infrastructure sectors in Africa. The Company, led by a team with
operational experience and a strong track record in Africa, has a
strategy of identifying high growth businesses where it can take an
active role in their advancement.
The Company owns the Mahenge Liandu graphite project in
south-east Tanzania, which is now its focus. The Project is located
in a highly prospective region with a high-grade JORC compliant
Indicated and inferred mineral resource estimate of 51.1Mt @ 9.3%
TGC, making it one of the largest high-grade resources in Tanzania,
and work to date has demonstrated Mahenge Liandu's potential as a
commercially viable deposit with significant tonnage, high-grade
coarse flake and near surface mineralisation (implying a low strip
ratio) contained within one contiguous ore body.
Other assets Armadale has an interest in, include the Mpokoto
Gold project in the Democratic Republic of Congo and a portfolio of
quoted investments.
More information can be found on the website
www.armadalecapitalplc.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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