REG - Botswana Diamonds - £250,000 Placing, RPT and TVR
07/08/2024 07:00
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RNS Number : 4409Z Botswana Diamonds PLC 07 August 2024
7(th) August 2024
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
£250,000 Placing, RPT and TVR
Placing to raise £250,000
Director / PDMR shareholding
The Board of Botswana Diamonds (AIM: BOD) is pleased to announce that it has
undertaken a Company-arranged fundraising consisting of a placing and
subscription with existing and new investors to raise £250,000 via the issue
of 78,125,000 new ordinary shares of 0.25p each in the capital of the Company
("Ordinary Shares") (the "Placing Shares"), which includes the cash
subscription by certain directors as detailed below, at a placing price of
0.32p per Placing Share.
Each Placing Share has one share purchase warrant attached with the right to
subscribe for one new Ordinary Share at 0.5p per Ordinary Share with an expiry
date of two years from 7(th) August 2024 (the "Placing Warrants"), being the
expected date of the Placing Warrants issue.
The Placing Shares will rank pari passu with the Company's existing Ordinary
Shares. Application will be made for the Placing Shares to be admitted to
trading on AIM and it is expected that such admission will become effective on
or around 12(th) August 2024.
Use of Proceeds
The funds raised will be used to fund exploration activities during the
current year in Botswana and South Africa, which remain ongoing, and to
provide additional working capital for the Company.
Approval of the Environmental Impact Assessment is still expected before the
end of August 2024, which will allow drilling on the three Sekaka Minerals
anomalies, close to the Company's KX36 discovery.
Director Subscription and RPT
Certain directors are subscribing for Placing Shares (with Placing Warrants
attached), as set out in the table below:
Director Subscription of Placing shares Enlarged shareholding following the placing % of enlarged share capital Placing Warrants
John Teeling 7,812,500 71,896,818 6.00% 7,812,500
James Finn 7,812,500 46,638,869 3.89% 7,812,500
James Campbell 5,859,375 17,075,281 1.43% 5,859,375
The issue of the Placing Shares and the Placing Warrants to the three
directors as set out above constitutes a related party transaction under Rule
13 of AIM Rules. In this context, David Horgan and Robert Bouquet, being the
Directors on the Board who are considered to be independent of the Placing,
consider, having consulted with the Company's nominated adviser, Strand Hanson
Limited, that the terms of the director participation in the Placing are fair
and reasonable insofar as its shareholders are concerned.
Total Voting Rights
In conformity with the Disclosure Guidance and Transparency Rules of the
Financial Conduct Authority ("FCA"), the Company announces the following:
Following the issue of the Placing Shares, there will be a total of
1,198,002,899 Ordinary Shares in issue with each carrying the right to one
vote ("Ordinary Shares"). The Company does not hold any Ordinary Shares in
Treasury. Therefore, the total number of Ordinary Shares in the Company with
voting rights is 1,198,002,899. The above figure may be used by shareholders
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,
the Company under the FCA's Disclosure and Transparency Rules.
Special note concerning the Market Abuse Regulation
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No 596/2014 ("MAR").
A copy of this announcement is available on the Company's website, at
www.botswanadiamonds.co.uk (http://www.botswanadiamonds.co.uk)
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman
+353 1 833 2833
James Campbell, Managing Director
+27 83 457 3724
Jim Finn, Director
+353 1 833 2833
Nominated & Financial Adviser +44 (0) 20 7409 3494
Strand Hanson Limited
Ritchie Balmer
Rory Murphy
David Asquith
Broker +44 (0) 207 374 2212
First Equity Limited
Jason Robertson
Public Relations +44 (0) 207 138 3206
BlytheRay +44 (0) 207 138 3553
Megan Ray
Said Izagaren +44 (0) 207 138 3206
Teneo
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
Fia Long
Alan Reynolds
www.botswanadiamonds.co.uk (http://www.botswanadiamonds.co.uk)
The notification below, made in accordance with the requirements of the Market
Abuse Regulations, provides further detail in respect of the transaction as
described above.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name James Campbell
2 Reason for notification
a) Position / status CEO
b) Initial notification Initial
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Botswana Diamonds plc
b) LEI 213800UEF1WVQZIZRA91
4 Details of the transaction(s):
section to be repeated for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 0.25 pence each in Botswana Diamonds plc
Identification code
ISIN GB00B5TFC825
Nature of the transaction Subscription for new Ordinary Shares and issue of Placing Warrants
Price(s) and volumes(s) Subscription for new Ordinary Shares
Price(s) Volumes(s)
£0.0032 5,859,375
Issue of Placing Warrants
Price(s) Volumes(s)
£0.005 5,859,375
d) Aggregated information n/a
e) Date of the transaction 6(th) August 2024
f) Place of the transaction Outside a trading venue
Issue of Placing Warrants
Price(s) Volumes(s)
£0.005 5,859,375
d)
Aggregated information
n/a
e)
Date of the transaction
6(th) August 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name James Finn
2 Reason for notification
a) Position / status Director
b) Initial notification Initial
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Botswana Diamonds plc
b) LEI 213800UEF1WVQZIZRA91
4 Details of the transaction(s):
section to be repeated for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 0.25 pence each in Botswana Diamonds plc
Identification code ISIN GB00B5TFC825
Nature of the transaction Subscription for new Ordinary Shares and issue of Placing Warrants
Price(s) and volumes(s)
Subscription for new Ordinary Shares
Price(s) Volumes(s)
£0.0032 7,812,500
Issue of Placing Warrants
Price(s) Volumes(s)
£0.005 7,812,500
d) Aggregated information n/a
e) Date of the transaction 6(th) August 2024
f) Place of the transaction Outside a trading venue
Issue of Placing Warrants
Price(s) Volumes(s)
£0.005 7,812,500
d)
Aggregated information
n/a
e)
Date of the transaction
6(th) August 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Teeling
2 Reason for notification
a) Position / status Director
b) Initial notification Initial
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Botswana Diamonds plc
b) LEI 213800UEF1WVQZIZRA91
4 Details of the transaction(s):
section to be repeated for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 0.25 pence each in Botswana Diamonds plc
Identification code ISIN GB00B5TFC825
Nature of the transaction Subscription for new Ordinary Shares and issue of Placing Warrants
Price(s) and volumes(s)
Subscription for new Ordinary Shares
Price(s) Volumes(s)
£0.0032 7,812,500
Issue of Placing Warrants
Price(s) Volumes(s)
£0.005 7,812,500
d) Aggregated information n/a
e) Date of the transaction 6(th) August 2024
f) Place of the transaction Outside a trading venue
Issue of Placing Warrants
Price(s) Volumes(s)
£0.005 7,812,500
d)
Aggregated information
n/a
e)
Date of the transaction
6(th) August 2024
f)
Place of the transaction
Outside a trading venue
ENDS
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