23rd January 2019
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Placing to raise £370,000
Placing
The Board of Botswana Diamonds (AIM: BOD) is pleased to announce that it has today undertaken a placing with existing and new investors to raise £370,000 via the issue of 67,272,727 new ordinary shares (the "Placing Shares"), which includes the cash subscription by certain directors as detailed below, at a placing price of 0.55p per Placing Share (the "Placing Price"). Each Placing Share has one warrant attached with the right to subscribe for one new ordinary share at 0.6p per new ordinary share for a period of two years from 23rd January 2019 (the "Placing Warrants"), being the expected date of the Placing Warrants issue.
The Placing Shares will rank pari passu with the Company's existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that such admission will become effective on or around 28th January 2019.
Use of Proceeds
The funds raised will be used to fund exploration activities during the current year in Botswana and South Africa, which remain ongoing, and to provide additional working capital for the Company.
Director Subscription
Certain directors are subscribing for Placing Shares (with Placing Warrants attached), as set out in the table below:
Director |
Subscription of Placing shares |
Subscription as % of current issued share capital |
Enlarged shareholding following the placing |
% of enlarged share capital |
Placing Warrants |
James Finn |
4,590,910 |
0.90% |
29,644,549 |
5.14% |
4,590,910 |
James Campbell |
412,545 |
0.08% |
898,861 |
0.16% |
412,545 |
Total |
5,003,455 |
0.98% |
30,543,410 |
5.30% |
5,003,455 |
Total Voting Rights
In conformity with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority ("FCA"), the Company announces the following:
Following the issue of the Placing Shares, there will be a total of 576,555,235 ordinary shares of 0.25p each in issue with each ordinary share carrying the right to one vote ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 576,555,235. 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.
Special note concerning the Market Abuse Regulation
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). Market soundings, as defined in MAR, were taken in respect of the Placing, with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities. The person who arranged for the release of this announcement on behalf of the Company was Jim Finn, Director.
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman James Campbell, Managing Director Jim Finn, Director |
+353 1 833 2833 +27 83 457 3724 +353 1 833 2833 |
Beaumont Cornish - Nominated Adviser
Michael Cornish Roland Cornish |
+44 (0) 020 7628 3396
|
SVS Securities Plc - Broker
Tom Curran Ben Tadd |
+44 (0) 20 3700 0100 |
Blytheweigh - PR
Julia Tilley
Fergus Cowan |
+44 (0) 20 7138 3206 +44 (0) 207 138 3553 +44 (0) 207 138 3208 |
Teneo Luke Hogg Alan Tyrrell |
+353 (0) 1 661 4055 +353 (0) 1 661 4055 |
The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
James Campbell |
2 |
Reason for notification |
a) |
Position / status |
CEO |
b) |
Initial notification /Amendment |
Initial |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Botswana Diamonds plc |
b) |
LEI |
213800UEF1WVQZIZRA91 |
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 0.25 pence each in Botswana Diamonds plc ISIN GB00B5TFC825 |
|
Nature of the transaction |
Subscription for new Ordinary Shares and issue of Placing Warrants |
|
Price(s) and volumes(s) |
Subscription for new Ordinary Shares
Price(s) |
Volumes(s) |
£0.0055 |
412,545 |
Issue of Placing Warrants
Price(s) |
Volumes(s) |
n.a. |
412,545 |
|
d) |
Aggregated information |
n/a |
e) |
Date of the transaction |
23 January 2019 |
f) |
Place of the transaction |
Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Jim Finn |
2 |
Reason for notification |
a) |
Position / status |
Director |
b) |
Initial notification /Amendment |
Initial |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Botswana Diamonds plc |
b) |
LEI |
213800UEF1WVQZIZRA91 |
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 0.25 pence each in Botswana Diamonds plc ISIN GB00B5TFC825 |
|
Nature of the transaction |
Subscription for new Ordinary Shares and issue of Placing Warrants |
|
Price(s) and volumes(s) |
Subscription for new Ordinary Shares
Price(s) |
Volumes(s) |
£0.0055 |
4,590,910 |
Issue of Placing Warrants
Price(s) |
Volumes(s) |
n.a. |
4,590,910 |
|
d) |
Aggregated information |
n/a |
e) |
Date of the transaction |
23 January 2019 |
f) |
Place of the transaction |
Outside a trading venue |
ENDS
