Issue of Equity

RNS Number : 6230A

Ironveld PLC

03 February 2022

 

Ironveld Plc

("Ironveld" or the "Company")

Issue of Equity

Ironveld announces that it has issued and allotted 10,351,405 new ordinary shares in the Company ("Ordinary Shares") at a price of 0.7853p per Ordinary Share (being the volume weighted average price over the previous 30 days less 10%), in order to settle fees due to certain contractors. Application will be made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or around 9 February 2022. 

The new Ordinary Shares will rank pari passu with the existing shares of the Company. Following admission of the shares, the Company's issued share capital consists of 1,326,791,777 Ordinary Shares. Accordingly, the figure of 1,326,791,777 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 Guidance and Transparency Rules.

For further information, please contact:

Ironveld plc Martin Eales, Chief Executive Officer		c/o Blytheweigh [phone]
finnCap (Nomad and Broker) Christopher Raggett / Charlie Beeson		[phone]
Turner Pope (Joint Broker) Andrew Thacker / James Pope		[phone]
Blytheweigh Tim Blythe / Megan Ray		[phone]

NOTES TO EDITORS

Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1,12% V2O5 (Vanadium), 68,6% Fe2O3 (Iron Oxide) and 14,7% TiO2 (Titanium Dioxide).

The Definitive Feasibility Study published in April 2014 confirms the project's viability to deliver a Vanadium slag product, for which the company has an offtake agreement, as well a High Purity Iron product which commands a premium in the market place, and Titanium slag containing commercial grades of titanium.

Ironveld is an AIM traded company. For further information on Ironveld please refer to www.ironveld.com.

 

END

 

 

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