Funding Update
28/03/2023 12:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
28 March 2023
BWA Group PLC
(“BWA” or the “Company”)
Funding Update
BWA (AQSE: BWAP), which has mineral exploration licences in
both Cameroon and Canada at various stages of development and is quoted on
London’s AQSE Growth Market, announces the provision of £35,000 of
additional funding from its Board and certain existing investors.
The funding is in the form of short-term loan notes with the following terms
(the “Notes”):
* Maturity date – 30 June 2023.
* Interest rate – 100%. Interest to be payable in cash on maturity.
* Repayment – In cash on maturity, but with a put option for the Company and
a call option for the noteholder to require repayment through the issue of new
ordinary shares of 0.5 pence each in the capital of the Company (“Ordinary
Shares”) at the nominal value. These options to be exercised no later than
23 June 2023.
* Security - Unsecured
In addition, the Company is in the process of formalising final terms for the
short-term unsecured loans initially announced on 16 January 2023, which have
a total principal amount of £39,000 (the “Loans”). It is anticipated that
the maturity date of the Loans will be brought in line with the Notes.
Further updates will be made as matters develop.
The Directors of BWA are responsible for the contents of this
announcement.
Ends -
For further information:
BWA Group PLC James Butterfield Interim Chairman +44 7770 225253 enquiries@bwagroupplc.com
Allenby Capital Limited Corporate Adviser Nick Harriss/Lauren Wright +44 20 3328 5656
Schedule of Lenders
Name Notes Loans
James Butterfield (Director) £8,000 £8,500
Alex Borrelli (Director) £1,000 £4,500
James Hogg (Director) £1,000 £4,500
Dick Howe (Subsidiary Director) £0 £3,000
Richard Battersby (Shareholder & Former Director) £5,000 £8,500
Jonathan Wearing (Shareholder) £20,000 £10,000
Total £35,000 £39,000
Market Abuse Regulation (MAR) Disclosure
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.
Details of the persons discharging managerial responsibilities / persons
closely associated.
Name Alex Borrelli James Butterfield James Hogg
Reason for notification Director of BWA Group Plc Director of BWA Group Plc Director of BWA Group Plc
Initial Initial Initial
Details of the issuer, emission allowance market participant, auction BWA Group Plc BWA Group Plc BWA Group Plc
platform, auctioneer, or auction monitor
LEI 213800XG3K7PTAAG8630 213800XG3K7PTAAG8630 213800XG3K7PTAAG8630
Description of the financial instrument, type of instrument Ordinary shares of 0.5p each Ordinary shares of 0.5p each Ordinary shares of 0.5p each
Identification code ISIN: GB0033877555 ISIN: GB0033877555 ISIN: GB0033877555
Nature of the transaction Option to settle loan notes through the issue of Ordinary Shares Option to settle loan notes through the issue of Ordinary Shares Option to settle loan notes through the issue of Ordinary Shares
Price(s) and 200,000 Ordinary Shares at 0.5p per share 1,600,000 Ordinary Shares at 0.5p per share 200,000 Ordinary Shares at 0.5p per share
volume(s)
Aggregated information N/A N/A N/A
Aggregated volume
Price
Date of the transaction 27 March 2023 27 March 2023 27 March 2023
Place of the transaction N/A N/A N/A
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