Information  X 
Enter a valid email address

Equatorial Mining (EM.P)

  Print      Mail a friend

Friday 10 August, 2018

Equatorial Mining

Corrected Announcement

RNS Number : 5026X
Equatorial Mining & Exploration PLC
10 August 2018
 

10th August 2018

 

Equatorial Mining & Exploration Plc ("EME" or the "Company")

 

CORRECTED ANNOUNCEMENT

 

 

Further to the announcement of 3rd August which discloses the issue of new shares in the amount of 2,685,112,325, this number is incorrect and the correct number of new shares issued was 2,786,331,837.  The corrected announcement is set out below.

 

 

Issue of New Ordinary Shares and Warrants to subscribe for Ordinary Shares

Directorate Appointment

 

 

Further to the announcement made on 17th July 2018 where the Company disclosed that as part of its commitment to rid the Company of its legacy debt,  instructions had been provided to the Company's registrars which would lead to a significant issue of new ordinary shares.  The Company also disclosed the planned issue of shares to ARQ Minerals (Pty) Limited ("ARQ") as part of the investment agreement, also announced on 17th July.

 

Accordingly the Company announces the issue of a total 2,786,331,837 new ordinary shares of 0.01p.

 

In the interests of clarification, the above action removes unpaid directors fees, private loans (other than a continuing private investor loan of £60,000) and the convertible loan notes which were in issue. 

 

The new shares will rank pari passu with the Company's existing ordinary shares and will be admitted to trading on NEX Exchange Growth Market on 4th August 2018.

 

Issue of Warrants to subscribe for ordinary shares to ARQ

 

As part of the aforementioned investment agreement with ARQ; the Company has issued 500,000,000 warrants to subscribe for ordinary shares at 0.02p (£0.0002) with an expiry date of 25th May 2021.

 

As a result, the changes to the Company's shares, warrants and convertible loan notes in issue are tabulated below:

 

 

Ord Shares of 0.01p

Warrants to subscribe for ordinary shares at 0.02p

0.41p Convertible loan notes

Previously in issue

7,622,191,670

0

£40,000

Currently in issue

10,408,523,507

500,000,000

0

 

Changes to the Directors' stock interests are set out below:

 

 

Ord shares of 0.01p

% of enlarged share capital

Employee Benefits Trust under option at 0.01p per share

Nicholas Nelson

545,939,024

5.2

891,990,000

Simon Retter

116,636,179

1.1

200,000,000

 

Shareholders with 3% or more of the issued share capital

 

Registered Shareholder

Shareholding

% of enlarged share capital

JIM Nominees Limited

2,683,400,870

25.7

First Names Trust Company Limited

1,332,400,000

12.8

Spreadex Limited

823,100,000

7.9

GTI International Limited

800,000,000

7.7

Pershing Nominees Ltd

727,386,854

7.0

M M Daniel

690,000,000

6.6

M Staten

550,000,000

5.3

Reba Global Pty Ltd

500,000,000

4.8

 

Directorate Appointment

 

The Company is delighted to announce the appointment of Devon Marais to the board as a non-executive director.

 

Mr Marais is a South African national with directorate positions in five companies spanning a range of business segments.  Of most relevance was his appointment last year as a non-board director of ARQ Minerals Pty Limited ("ARQ") which took an interest in the Company last June becoming a shareholder and operating partner in Nigeria.

 

Specifically, Mr Marais' role in ARQ is described as being Head of Acquisitions which is of direct relevance to EME's short term plans.

 

Directorships in the past five years:

 

Current Directorships

Past Directorships

Name

Appointment date

 

 

Greenco Africa Ltd

January 2014

None

 

Park Media Solutions Ltd

March 2017

 

 

Shammy Corp Ltd

December 2016

 

 

Southern Cross Technologies Ltd

January 2017

 

 

 

Devon Jacques Marais, age 23, has no further disclosures under the NEX Exchange rules for companies.

 

 

Enquiries:

 

Equatorial Mining & Exploration Plc:
Nicholas Nelson, Executive Chairman

 

[email protected]

NEX Exchange Adviser and Broker

Alexander David Securities

James Dewhurst

 

+44 (0) 207 448 9820

 

 

 

The Directors take responsibility for this announcement.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
NEXPMMBTMBIBBPP

a d v e r t i s e m e n t