REG - Caracal Gold PLC - Admission of Shares

Caracal GoldAnnouncement

03/08/2022 07:15

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RNS Number : 7415U  Caracal Gold PLC  03 August 2022

Caracal Gold plc / EPIC: GCAT / Market: Main / Sector: Mining

3 August 2022

 

Caracal Gold plc ('Caracal' or the 'Company')

Admission of Shares

 

Caracal Gold plc, the expanding East African gold producer with over
1,300,000oz JORC-compliant gold resources, provides an update on its total
issued share.

 

Certain share admissions previously announced by the Company have not been
admitted to the Financial Conduct Authority's ("FCA") Official List and to
trading on the London Stock Exchange.  Details are set out in the table
below.

 

 Date       Number of shares  Details
 27-Dec-21  24,000,000        Placing shares issued at 1.25p per share. Proceeds of the fundraising used to
                              fund the capital and working capital costs of the announced Phase 3
                              Development Plan.
 27-Jan-22  9,100,000         Share issuance in lieu of research services totalling £90,000
 07-Feb-22  37,500,000        30,000,000 warrants exercised by former directors in lieu of outstanding fees
                              due to them, along with 7,500,000 performance shares issued as conditions of
                              the incentives had been met, and are subject to a 12-month lock-in.
                              Application for admission to trading for these shares is subject to the
                              publication of a prospectus.
 14-Feb-22  177,048,592       Placing shares issued at 0.95p per share. Proceeds of the fundraising used to
                              fund the capital and working capital costs of the announced Phase 3
                              Development Plan.
 17-Feb-22  16,000,000        Placing shares issued at 1.25p per share. Proceeds of this fundraising used to
                              fund the capital and working capital costs of the announced Phase 3
                              Development Plan.
 Total      263,648,592

 

Admission

In order to rectify the position, application will be made to the FCA for the
shares to be admitted to the Official List and to the LSE for the shares to be
admitted to trading on the LSE ("Admission") in two tranches.

 

Application will be made to the LSE for 226,148,592 shares (the "Tranche 1
Shares") to be admitted to trading, with Admission expected on or around 8(th)
August 2022.

 

Admission of 37,500,000 shares (the "Tranche 2 Shares") to trading on the Main
Market of the LSE will be subject to the publication of a prospectus. Work has
commenced on production of the prospectus, which will be published as soon as
practicable, subject to approval by the FCA.

 

The Tranche 1 Shares and the Tranche 2 Shares will rank pari passu with the
Company's existing Ordinary Shares in all respects.

 

Total Voting Rights

The current issued share capital of the Company is 1,878,977,593 Ordinary
Shares, each with voting rights.  This 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 Disclosure and Transparency Rules.

 

**ENDS**

 

For further information visit www.caracalgold.com or contact the following:

 Caracal Gold plc                                     info@caracalgold.com

 Robbie McCrae

 Sheila Boit
 VSA Capital Ltd                                      +44 203 005 5000

 Financial Adviser and Joint Broker

 Andrew Raca (Corporate Finance)

 Clear Capital Markets Limited

 Joint Broker                                         +44 203 897 0981 / +44 203 869 6086

 Keith Swann / Jon Critchley

 St Brides Partners Ltd                               caracal@stbridespartners.co.uk

 Financial PR

 Charlotte Page / Isabel de Salis / Isabelle Morris
 DGWA, the German Institute for Asset and             info@dgwa.org

 Equity Allocation and Valuation

 European Investor and Corporate Relations Advisor

 Katharina Löckinger

 

Notes

Caracal Gold plc is an emerging East African focused gold producer with a
clear path to grow production and resources both organically and through
strategic acquisitions. Its aim is to rapidly increase production to
+50,000ozs p.a. and build a JORC compliant resource base of +3Moz.  To this
end, it is progressing a well-defined mine optimisation strategy at its 100%
owned Kilimapesa Gold Mine in Kenya, where there is significant mid-term
expansion potential and ability to increase gold production to 24,000oz p.a.
and the resource to +2Moz (current JORC compliant resources of approx.
671,000oz). Additionally, its experienced team, with proven track record in
successfully developing and operating mining projects throughout Africa, is
reviewing other complementary and strategically located gold mine and
development projects in East Africa.

 

Caracal is a responsible mining and exploration company and supports the
positive social and economic change that it contributes to the communities in
the regions that it operates.  It is a proudly East African-focused company:
it buys locally, employs locally, and protects the environment and its
employees and their families' health, safety, and wellbeing.

 

Caracal's shares are quoted on the Main Market of the London Stock Exchange
(LON: GCAT) and on the Frankfurt Stock Exchange (FSE: 6IK); a listing on the
Nairobi Securities Exchange is underway.

 

 

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