Completion of £1.5m fundraising

RNS Number : 5217S

Kodal Minerals PLC

26 June 2018

 

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

26 June 2018

Kodal Minerals plc ('Kodal Minerals' or the 'Company')

Completion of £1.5m fundraising

Kodal Minerals plc, the mineral exploration and development company focussed on West Africa, is pleased to announce that further to the Company's announcement of 11 June 2018, the proceeds of the £1.2 million subscription for Ordinary Shares by Suay Chin have now been received. 

Accordingly, application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 29 June 2018.

Following Admission, Suay Chin will hold 2,227,971,568 Ordinary Shares representing 29.0 per cent. of the Company's enlarged share capital.

Total Voting Rights

As a result of the issue of the Subscription Shares as described above, the issued share capital of the Company will consist of 7,678,328,977 Ordinary Shares from Admission.

The Company holds no shares in treasury. The total number of voting rights in the Company from Admission will therefore be 7,678,328,977. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority.

Defined terms used in this announcement have the meaning as set out in the announcement of 11 June 2018 unless otherwise stated.

**ENDS**

For further information, please visit www.kodalminerals.com or contact the following:

Kodal Minerals plc Bernard Aylward, CEO	Tel: [phone]
Allenby Capital Limited, Nominated Adviser Jeremy Porter/Nick Harriss	Tel: [phone]
SP Angel Corporate Finance LLP, Financial Adviser & Broker John Mackay	Tel: [phone]
St Brides Partners Ltd, Financial PR Susie Geliher/Megan Dennison	Tel: [phone]

 

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