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W Resources PLC (WRES)

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Tuesday 10 March, 2020

W Resources PLC

£756,000 Placing to Spanish Investors at 0.36p

RNS Number : 5684F
W Resources PLC
10 March 2020
 

 

 

 

 

 

 

 

10 March 2020

 

 

W Resources Plc

("W" or the "Company")

£756,000 Placing to Spanish Investors at 0.36p

W Resources Plc (AIM:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, has completed a placement of 209,999,998 ordinary shares of 0.1p per share ("Ordinary Shares") at a price of 0.36p per Ordinary Share to raise £756,000 (the "Placing") before expenses, to new Spanish Investors.

The funds raised from the Placing will be used to advance Régua development and provide additional working capital for the Company.

Michael Masterman, Chairman of W Resources, commented: "It's important to have the continued strong support of the Spanish investors at a time of volatility. Funds will be used to advance the Régua mine and provide a strong base of working capital for W Resources"

Settlement and dealings

Application will be made for the new Ordinary Shares being issued in connection with the Placing to be admitted to trading on AIM with admission expected to occur on or around 16 March 2020.

Total Voting Rights

Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 6,700,042,777 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 6,700,042,777 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

W Resources Plc

Michael Masterman

T: +44 (0) 20 7193 7463

www.wresources.com

Grant Thornton UK LLP

Colin Aaronson / Seamus Fricker

T: +44 (0) 20 7383 5100

Joint Broker

Turner Pope Investments (TPI) Ltd

Andy Thacker / Zoe Alexander

T: +44 (0) 203 657 0050

www.turnerpope.com

Joint Broker

Alternative Resource Capital / Shard Capital

Alex Wood

T:+44 (0) 207 186 9004

www.altrescap.com

Damon Heath

T:+44 (0) 207 186 9952

www.shardcapital.com

Alma PR

Justine James

M: +44 (0) 7525 324431

[email protected]

 


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