Fundraising and Capital Reorganisation

RNS Number : 9404J

Botswana Diamonds PLC

22 December 2015

 

22^nd December 2015

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Fundraising and Capital Reorganisation

The Board of Botswana Diamonds (AIM: BOD) is pleased to provide further information in relation to a fundraising and a capital reorganisation, details of which were announced on 18 December 2015. 

At the Company's AGM on 18 December 2015 shareholders approved the sub-division of each of the Company's 239,487,648 existing ordinary shares of 1 pence each ("Existing Ordinary Shares") into one new ordinary share of 0.25p each (a "New Ordinary Share") and one new deferred share of 0.75p each (a "Deferred Share") (the "Capital Reorganisation").  The New Ordinary Shares will carry the same rights and benefits as those attached to the Existing Ordinary Shares (save for the reduction in nominal value). The number of New Ordinary Shares in issue following the Capital Reorganisation is unchanged from the number of Existing Ordinary Shares in issue immediately prior to the Capital Reorganisation. Shareholders' individual holdings will be for, the same number of New Ordinary Shares as the number of Existing Ordinary Shares immediately prior to the General Meeting. Any share certificates for the Existing Ordinary Shares will remain valid for the New Ordinary Shares.

In addition the Company issued a total of 64,154,850 New Ordinary Shares with Warrants attached to raise £545,316 as announced on 18 December 2015 (the "Fundraising").

 Dealings on AIM in the Existing Ordinary Shares will cease at the close of business on 23 December 2015. Application has been made for the admission of 303,642,498 New Ordinary Shares (comprising 239,487,648 New Ordinary Shares issued pursuant to the Capital Reorganisation and 64,154,850 New Ordinary Shares issued pursuant to the Fundraising) to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on 24 December 2015. No application will be made for admission of the Deferred Shares to trading on AIM nor will any such application by made to any other exchange.

At the Company's AGM on 18 December 2015 shareholders also approved the amendment of the articles of association of the Company.  A copy of the revised Articles of Association adopted at the General Meeting will be made available on the Company's website www.botswanadiamonds.co.uk 

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman	[phone]
Jim Finn, Director
Dipti Mehta
Northland Capital Partners Limited
David Hignell/Gerry Beaney (Corporate Finance)	[phone]
John Howes/Mark Treharne (Broking)
Dowgate Capital Stockbrokers Limited
Jason Robertson	[phone]
Blytheweigh	[phone]
Camilla Horsfall	[phone]
PSG Plus
Aoife Ross	[phone]
Alan Tyrrell	[phone]

 

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