Botswana Diamonds PLC ("Botswana Diamonds" or the "the Company")
Issue of Shares and Directors' Dealings
Botswana Diamonds (AIM: BOD) has today issued 15,009,381 ordinary shares of £0.01 pence each ("Shares"), to certain directors of the Company in lieu of accrued professional fees. The Shares have been issued at a price of 1.066p each, being the 10 day VWAP to 16 April 2015. Following this issue, the directors' shareholdings in the Company are as follows:
|
Previous shareholding |
New Shares being issued |
Resultant shareholding |
Percentage holding of enlarged issued share capital* |
John Teeling |
26,869,320 |
9,756,098 |
36,625,418 |
15.3% |
Jim Finn |
10,970,820 |
3,470,919 |
14,441,739 |
6.0% |
David Horgan |
8,095,720 |
1,782,364 |
9,878,084 |
4.1% |
Related party Transaction
The issue of the Shares constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The independent directors of the Company, being Robert Bouquet and Anne McFarland, having consulted with the Company's nominated adviser, Westhouse Securities Limited, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
Admission and Total Voting Rights
The new Shares will rank pari passu with the Company's existing ordinary shares. Application will be made for the new Shares to be admitted to trading on AIM and it is expected that such admission will become effective on or around 14 April 2015.
Following the issue of the new Shares there will be a total of 239,487,648* ordinary shares of £0.01 each in issue with each share carrying the right to one vote. 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.
*As will be enlarged by the placing shares, as announced on 31 March 2015, which are expected to be admitted to trading on 23 April 2015.
Enquiries:
Botswana Diamonds PLC |
|
John Teeling, Chairman |
+353 1 833 2833 |
Jim Finn, Director |
|
Westhouse Securities Limited |
|
Martin Davison |
+44 (0) 20 7601 6100 |
Robert Finlay |
|
Dowgate Capital Stockbrokers Limited |
|
Jason Robertson |
+44 (0) 129 351 7744 |
Blytheweigh |
+44 (0) 20 7138 3204 |
Halimah Hussain |
+44 (0) 7725 978 141 |
PSG Plus |
|
Aoife Ross |
+353 (0) 1 661 4055 |
Alan Tyrrell |
+353 (0) 1 661 4055 |
www.botswanadiamonds.co.uk
