REG - Ironveld PLC - Issue of Equity

IronveldAnnouncement

06/06/2023 11:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230606:nRSF8174Ba&default-theme=true

RNS Number : 8174B  Ironveld PLC  06 June 2023

Ironveld Plc

("Ironveld" or the "Company")

Issue of Equity

Ironveld announces that it has issued and allotted 15,201,367 new ordinary
shares in the Company ("Ordinary Shares") in order to settle fees due to
certain contractors in South Africa. The average issue price of 0.2988p per
Ordinary Share reflects the VWAP and South African Rand exchange rate
applicable during the period that services were supplied, with no discount.
Application will be made for the new Ordinary Shares to be admitted to trading
on AIM and dealings are expected to commence on or around 9 June 2023.

The new Ordinary Shares will rank pari passu with the existing shares of the
Company. Following admission of the shares, the Company's issued share capital
consists of 3,574,996,887 Ordinary Shares. Accordingly, the figure of
3,574,996,887 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 Guidance and Transparency Rules.

 

For further information, please contact:

 Ironveld plc                              c/o BlytheRay

 Martin Eales, Chief Executive Officer     +44 20 7138 3204

                                           +44 20 7220 0500

 finnCap (Nomad and Broker)

 Christopher Raggett / Charlie Beeson

 Turner Pope (Joint Broker)                +44 20 3657 0050

 Andrew Thacker / James Pope

 BlytheRay                                 +44 20 7138 3204

 Tim Blythe / Megan Ray

 

 

 

NOTES TO EDITORS

 

Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28
kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore
resource of some 56 million tons of ore grading 1,12% V2O5, 68,6% Fe2O3 and
14,7% TiO2.

In 2022 Ironveld agreed to acquire and refurbish a smelter facility in
Rustenburg, South Africa, in which it can process its magnetite ore into the
marketable products of high purity iron, titanium slag and vanadium slag. This
transaction became unconditional in March 2023.

Ironveld is an AIM traded company. For further information on Ironveld please
refer to www.ironveld.com (http://www.ironveld.com/) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEKZGGVLVFGFZG