Botswana Diamonds PLC GBP380,000 Fundraising (7718U)
27 November 2023 - 12:15PM
UK Regulatory
TIDMBOD
RNS Number : 7718U
Botswana Diamonds PLC
27 November 2023
27(th) November 2023
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
GBP380,000 Fundraising
The Board of Botswana Diamonds (AIM: BOD) is pleased to announce
that it has today undertaken a fundraising consisting of a placing
and subscription with existing and new investors to raise
GBP380,000 via the issue of 76,000,000 new ordinary shares of
GBP0.0025 each in the Company ("Ordinary Shares") (the "Placing
Shares"), at a placing price of 0.5p per Placing Share (the
"Placing Price"). Each Placing Share has one warrant attached with
the right to subscribe for one new Ordinary Share at 0.5p per new
Ordinary Share for a period of two years from 27 November 2023 (the
"Placing Warrants").
The Placing Shares will rank pari passu with the Company's
existing Ordinary Shares. Application will be made for the Placing
Shares to be admitted to trading on AIM and it is expected that
such admission will become effective on or around 11(th) December
2023 ("Admission").
Use of Net Proceeds
The Company's current operational focus is on explorational
activities at its assets in Botswana and South Africa. Net proceeds
from the Placing will be applied towards a continuation of these
activities, and to provide additional working capital for the
Company.
Total Voting Rights
In conformity with the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority ("FCA"), the Company
announces the following:
Following the issue of the Placing Shares, there will be a total
of 1,119,877,899 Ordinary Shares in issue with each Ordinary Share
carrying the right to one vote. The Company does not hold any
Ordinary Shares in Treasury. Therefore, the total number of
Ordinary Shares in the Company with voting rights is 1,119,877,899.
The above figure 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
Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014
("MAR").
A copy of this announcement is available on the Company's
website, at www.botswanadiamonds.co.uk
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
James Campbell, Managing Director +27 83 457 3724
Jim Finn, Director +353 1 833 2833
Nominated & Financial Adviser
Strand Hanson Limited
Ritchie Balmer
Rory Murphy
David Asquith +44 (0) 20 7409 3494
Broker
First Equity Limited
Jason Robertson +44 (0) 207 374 2212
Public Relations
BlytheRay +44 (0) 207 138 3206
Megan Ray +44 (0) 207 138 3553
Said Izagaren +44 (0) 207 138 3206
Teneo
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
ENDS
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END
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(END) Dow Jones Newswires
November 27, 2023 06:15 ET (11:15 GMT)
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