Closing of second round of subscriptions
04/01/2024 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
4 January 2024
BWA Group PLC
(“BWA”, the “Group”, or the “Company”) (AQSE: BWAP)
Closing of second round of subscriptions
Extension of Offer for Subscription
BWA Group Plc [AQSE: BWAP], which holds mineral exploration licences in both
Cameroon and Canada and is quoted on London’s AQSE Growth Market, is pleased
to announce, further to the notification of 3 November 2023 (the
“Notification”) and the closing of the first round of subscriptions
(announced on 7 December 2023 – the “First Closing”), the closing of the
second round of subscriptions (the “Second Closing”) for 226,800 new
ordinary shares of 0.5p each (“Ordinary Shares”). As set out in the
Notification, the new Ordinary Shares are being issued at a price of 0.5p per
Ordinary Share, accompanied by warrants in the ratio of 1 for 2 ordinary
shares subscribed, exercisable into Ordinary Shares at a price of 0.6p per
share until 31 October 2024 and 0.75p per share thereafter until 31 October
2026 (“New Shares”).
At the Second Closing, the Company has raised an additional £1,134, making a
total of £458,134 when combined with the £457,000 at the First Closing (the
“Subscription”). The Subscription has been received from an existing
shareholder. The use of funds is as set out in the Notification.
The New Shares will be allotted under the Company’s existing unspent share
issue authorities and are expected to be admitted to trading on the AQSE
Growth Market on 9 January 2024 (“Admission”).
The board of directors of the Company has agreed to extend the offer for
subscription until 29 February 2024, at which time a third and final closing
will take place. All terms will remain as set out in the Notification. Any
shareholder who may wish to subscribe for New Shares in the issue may express
an interest to the Company by emailing enquiries@bwagroupplc.com.
On Admission, the Company will have 607,348,347 Ordinary Shares in issue, each
with one voting right. The Company does not hold any shares in treasury and
therefore the total number of voting rights in the Company is 607,348,347.
This figure should be used by shareholders from Admission 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 Guidance and Transparency Rules.
The Board is responsible for the contents of this announcement.
For further information on the Company, please visit:
http://www.bwagroupplc.com/index.html
or contact:
BWA Group PLC James Butterfield Chairman +44 (0)7770 225253 enquiries@bwagroupplc.com
Jonathan Wearing Director
Allenby Capital Limited Corporate Adviser Nick Harris/Lauren Wright +44 (0)20 3328 5656
Copyright (c) 2024 PR Newswire Association,LLC. All Rights Reserved