Exercise of Warrants and Issue of Equity

Armadale Capital

17/01/2020 07:05

RNS Number : 0927A

Armadale Capital PLC

17 January 2020

 

Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company

17 January 2020

Armadale Capital Plc ('Armadale' or 'the Company')

 

Exercise of Warrants and Issue of Equity

 

Armadale, the AIM quoted investment company focused on natural resource projects in Africa, announces that it has received  notifications from two warrant holder to exercise warrants over a total of 2,722,496 ordinary shares at a price of 2.2p per share in the capital of the Company ('Ordinary Shares'), providing the Company with gross proceeds of £59,895.

 

Application will be made to the London Stock Exchange to admit the 2,722,496 new Ordinary Shares to trading on AIM.  Admission of the new Ordinary Shares is expected to occur on 22 January 2020 ('Admission').  The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.  

 

Following Admission, the issued share capital of the Company will be 406,285,726 Ordinary Shares and this figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest, the Company, under the Disclosure Guidance and Transparency Rules published by the UK Financial Conduct Authority.  There are no Ordinary Shares held in Treasury.  Each Ordinary Share entitles the holder to a single vote at general meetings of the Company.

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

**ENDS**

 

Enquiries:
Armadale Capital Plc
Tim Jones, Company Secretary
+44 20 7236 1177
Nomad and broker: finnCap Ltd
Christopher Raggett / Simon Hicks
+44 20 7220 0500
Joint Broker: SVS Securities
Tom Curran / Ben Tadd
+44 20 3700 0093
Press Relations: St Brides Partners Ltd
Charlotte Page / Beth Melluish
+44 20 7236 1177

Notes

Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.

 

The Company owns the Mahenge Liandu graphite project in south-east Tanzania, which is now its focus. The Project is located in a highly prospective region with a high-grade JORC compliant Indicated and inferred mineral resource estimate of 51.1Mt @ 9.3% TGC, making it one of the largest high-grade resources in Tanzania, and work to date has demonstrated Mahenge Liandu's potential as a commercially viable deposit with significant tonnage, high-grade coarse flake and near surface mineralisation (implying a low strip ratio) contained within one contiguous ore body.

 

Other assets Armadale has an interest in, include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.

 

More information can be found on the website www.armadalecapitalplc.com. 

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 rns@lseg.com or visit www.rns.com.

 

END

 

 

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