REG - Botswana Diamonds - £380,000 Fundraising

Botswana DiamondsAnnouncement

27/11/2023 11:15

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RNS Number : 7718U  Botswana Diamonds PLC  27 November 2023

27(th) November 2023

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

£380,000 Fundraising

 

The Board of Botswana Diamonds (AIM: BOD) is pleased to announce that it has
today undertaken a fundraising consisting of a placing and subscription with
existing and new investors to raise £380,000 via the issue of 76,000,000 new
ordinary shares of £0.0025 each in the Company ("Ordinary Shares") (the
"Placing Shares"),  at a placing price of 0.5p per Placing Share (the
"Placing Price"). Each Placing Share has one warrant attached with the right
to subscribe for one new Ordinary Share at 0.5p per new Ordinary Share for a
period of two years from 27 November 2023 (the "Placing Warrants").

 

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 11(th) December 2023 ("Admission").

 

Use of Net Proceeds

 

The Company's current operational focus is on explorational activities at its
assets in Botswana and South Africa. Net proceeds from the Placing will be
applied towards a continuation of these activities, and to provide additional
working capital for the Company.

 

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
1,119,877,899 Ordinary Shares in issue with each Ordinary Share carrying the
right to one vote. The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with voting
rights is 1,119,877,899. 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.

 

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

 

 

www.botswanadiamonds.co.uk (http://www.botswanadiamonds.co.uk)

 

 

ENDS

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