REG - Beowulf Mining PLC - Postponement of Subscription period

Beowulf MiningAnnouncement

12/03/2024 17:00

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RNS Number : 5813G  Beowulf Mining PLC  12 March 2024

 

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CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY
PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN
BEOWULF MINING PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS
ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE
RELIED ON INCONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF BEOWULF
MINING PLC.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018 (as amended). Upon the publication of this announcement,
through the agency of the contact person of the Company set out below, this
inside information is now considered to be in the public domain.

 

 

12 March 2024

 

 

Beowulf Mining plc

 

("Beowulf" or the "Company")

 

Postponement of Subscription period

 

Beowulf (AIM: BEM; Spotlight: BEO), informs that the subscription period in
the Company's upcoming rights issue of Swedish Depository Receipts ("SDR")
("Rights Issue") will be postponed by one day. The subscription period is
therefore expected to start on 14 March 2024, instead of the earlier expected
13 March 2024. Please see an updated indicative timetable below.

 

 

Updated summarised indicative timetable for the Rights Issue

 

 General Meeting                                                             1:00 p.m. (GMT) on 5 March 2024
 Results of General Meeting announced through RNS                            5 March 2024
 Record date for the share sub-division                                      6.00 p.m. (GMT) on 5 March 2024
 Admission and dealings in sub-divided shares                                8.00 a.m. (GMT) on 6 March 2024
 The last day of trading in SDRs with preferential rights                    6 March
 The first day of trading in SDRs without preferential rights                7 March
 Rights Issue Record Date for the Rights Issue                               8 March
 Time and date from which conversion of SDRs into Ordinary Shares (and vice  8.00 a.m. (Stockholm time) on 11 March
 versa) is permitted again

 Publication of the Prospectus                                               13 March
 Start of the subscription period for the Rights Issue and trading in the    14 March
 Swedish Subscription Rights and Paid Subscribed SDRs
 Last day of trading in the Swedish Subscription Rights                      25 March
 Subscription period for the Rights Issue ends                               28 March
 Announcement of the results of the Rights Issue                             on or around 3 April
 Announcement of the results of the Capital Raise                            on or around 3 April
 Last day of trading in the Paid Subscribed SDRs                             on or around 17 April
 Record date for conversion of the Paid Subscribed SDRs into New SDRs        on or around 19 April
 Swedish Admission and commencement of dealings in the New SDRs              on or around 19 April

 

 

Updated summarised indicative timetable for the UK Issue

 

 Time and date from which conversion of Ordinary Shares into SDRs (and vice      6 March
 versa) is permitted again
 Start of the subscription period for the UK Issue                               14 March
 Subscription period for the UK Issue ends                                       2.00 p.m. (GMT) on 28 March
 Announcement of the results of the Capital Raise                                on or around 3 April
 AIM Admission and commencement of dealings in the New Ordinary Shares           8.00 a.m. (BST)

                                                                                 on 18 April
 New Ordinary Shares credited to CREST stock accounts (uncertificated            after 8.00 a.m. (BST)
 Shareholders only)

                                                                                 on 18 April
 Posting of certificates for the New Ordinary Shares (certificated Shareholders  on or around 2 May
 only)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advisers

 

In relation to the Rights Issue, the Company has engaged Evli Plc as Swedish
financial adviser, Bird & Bird Advokat KB as Swedish legal advisor and
Aqurat Fondkommission AB as Swedish issuing agent.

 

 

Enquiries:

 

Beowulf Mining plc

Ed Bowie, Chief Executive Officer
ed.bowie@beowulfmining.com

 

Evli Plc

(Swedish financial adviser)

Mikkel Johannesen / Lars Olof Nilsson               Tel: +46 (0)
73 147 0013

 

SP Angel

(Nominated Adviser & Joint Broker)

Ewan Leggat / Stuart Gledhill / Adam Cowl          Tel: +44 (0) 20
3470 0470

 

Alternative Resource Capital

(Joint Broker)

Alex
Wood
Tel: +44 (0) 20 7186 9004

 

BlytheRay

Tim Blythe / Megan Ray
                                    Tel:
+44 (0) 20 7138 3204

 

 

Cautionary Statement

 

Statements and assumptions made in this document with respect to the Company's
current plans, estimates, strategies and beliefs, and other statements that
are not historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are not
limited to, those using words such as "may", "might", "seeks", "expects",
"anticipates", "estimates", "believes", "projects", "plans", strategy",
"forecast" and similar expressions. These statements reflect management's
expectations and assumptions in light of currently available information. They
are subject to a number of risks and uncertainties, including, but not limited
to , (i) changes in the economic, regulatory and political environments in the
countries where Beowulf operates; (ii) changes relating to the geological
information available in respect of the various projects undertaken; (iii)
Beowulf's continued ability to secure enough financing to carry on its
operations as a going concern; (iv) the success of its potential joint
ventures and alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results could differ
materially from those presented and forecast in this document. Beowulf assumes
no unconditional obligation to immediately update any such statements and/or
forecast.

 

 

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