REG - African Pioneer PLC - Issue of Equity and TVR

African PioneerAnnouncement

16/09/2024 08:45

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RNS Number : 3112E  African Pioneer PLC  16 September 2024

 

16 September 2024

African Pioneer Plc

("African Pioneer" or "the Company")

 Issue of Equity & TVR

 

African Pioneer plc ("AFP" or the "Company") the exploration and resource
development company with advanced projects in Namibia, Botswana, and Zambia,
announces that in accordance with the authority granted at its Annual General
Meeting on 1 August 2024 it is issuing 949,923 new Ordinary Shares of no par
value ("Ordinary Shares") (the "Consultancy Fee Shares") at the VWAP of the
African Pioneer share price during the periods during which the consultancy
fees accrued to settle a total of £21,940 of consultancy fees at an average
VWAP of 2.31 pence per new Ordinary Share as per the table below:

 

 

 Period                      Fees                          VWAP during the Periods per share  No. of shares
 6 mths to 9 March 2024       £          5,000              £      0.0219                            228,311
 6 mths to 30 June 2023      £          5,400              £      0.0266                             203,008
 6 mths to 31 December 2023  £          5,900              £      0.0211                             279,621
 6 mths to 30 June 2024      £          5,640              £      0.0236                             238,983
  Total / Average / Total    £        21,940               £    0.0231                        949,923

 

Application to trading: Applications will be made to the Financial Conduct
Authority ("FCA") and the London Stock Exchange for the 949,923 new Ordinary
Shares, to be admitted to the Official List and to trading on the London Stock
Exchange's main market for listed securities (the "Admission"). It is expected
that Admission will become effective and that dealings in the Consultancy Fee
Shares will commence at 8.00 a.m. on or around 20 September 2024.

 

Issued Share Capital: Following the issue of the 949,923 new Ordinary Shares,
the Company's total issued share capital will consist of 228,991,101 Ordinary
Shares with voting rights. The Company does not hold any Ordinary Shares in
treasury and accordingly there are no voting rights in respect of any treasury
shares.

 

Total Voting Rights On Admission, the above mentioned figure of 228,991,101
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 to their interest in, African Pioneer
under the Financial Conduct Authority's Disclosure Guidance and Transparency
Rules.

 

 

For further information, please contact:

 

 

 African Pioneer Plc                           Tel +44 (0) 20 7581 4477

 Colin Bird, Chairman
 Beaumont Cornish Limited (Financial Adviser)  Tel +44 (0) 20 7628 3396

 Roland Cornish/Asia Szusciak
 Novum Securities Limited (Broker)             Tel +44 (0) 20 7399 9400

 Jon Belliss

 

or visit   https://africanpioneerplc.com/

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR").

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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