Conditions Precedent met re Xinhai Agreement
Summary by AI BETAClose X
21 September 2026
African Pioneer Plc
(“African Pioneer” or the “Company”)
Conditions Precedent met re Xinhai Development Agreement
African Pioneer Plc (“AFP”), the exploration and resource development company is pleased to announce that further to its announcements of 30 July 2026 and 1 September all conditions precedent have been met in relation to the financing and technical services agreement (the “Definitive Agreement”) signed between the Company and Hong Kong Xinhai Mining Services Limited (“Xinhai“) and announced on 30 July 2026.
Upon Xinhai making payment of their share subscription of GBP712,786 under the Definitive Agreement the Company will announce and arrange the issue of Xinhai’s share subscription shares, the issue of the Xinhai Warrants and the issue of the 3,333,333 African Pioneer shares to Xinhai in relation to the conversion of Xinhai’s previously paid intention money of GBP30,000.
For further information, please contact:
|
African Pioneer Plc Colin Bird, Chairman |
Tel +44 (0) 20 3961 6084 |
|
Beaumont Cornish Limited (Financial Adviser) Roland Cornish/Asia Szusciak |
Tel +44 (0) 20 7628 3396 |
|
AlbR Capital Limited (Joint Broker) Jon Belliss |
Tel +44 (0) 20 7399 9425 |
|
Shard Capital Partners LLP (Joint Broker) Damon Heath
|
Tel +44 (0) 20 7186 9952 |
or visit https://africanpioneerplc.com/
Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is Financial Adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.
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