BOD.L

Botswana Diamonds Plc
Botswana Diamonds - £250,000 Placing, RPT and TVR
7th August 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 4409Z
Botswana Diamonds PLC
07 August 2024
 

7th August 2024

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

£250,000 Placing, RPT and TVR

 

Placing to raise £250,000

Director / PDMR shareholding

 

The Board of Botswana Diamonds (AIM: BOD) is pleased to announce that it has undertaken a Company-arranged fundraising consisting of a placing and subscription with existing and new investors to raise £250,000 via the issue of 78,125,000 new ordinary shares of 0.25p each in the capital of the Company ("Ordinary Shares") (the "Placing Shares"), which includes the cash subscription by certain directors as detailed below, at a placing price of 0.32p per Placing Share.

 

Each Placing Share has one share purchase warrant attached with the right to subscribe for one new Ordinary Share at 0.5p per Ordinary Share with an expiry date of two years from 7th August 2024 (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 12th August 2024.

 

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.

 

Approval of the Environmental Impact Assessment is still expected before the end of August 2024, which will allow drilling on the three Sekaka Minerals anomalies, close to the Company's KX36 discovery.

 

Director Subscription and RPT

 

Certain directors are subscribing for Placing Shares (with Placing Warrants attached), as set out in the table below:

Director

Subscription of Placing shares

Enlarged shareholding following the placing

% of enlarged share capital

Placing Warrants

John Teeling

7,812,500

71,896,818

6.00%

7,812,500

James Finn

    7,812,500

46,638,869

3.89%

7,812,500

James Campbell

5,859,375

17,075,281

1.43%

5,859,375


The issue of the Placing Shares and the Placing Warrants to the three directors as set out above constitutes a related party transaction under Rule 13 of AIM Rules. In this context, David Horgan and Robert Bouquet, being the Directors on the Board who are considered to be independent of the Placing, consider, having consulted with the Company's nominated adviser, Strand Hanson Limited, that the terms of the director participation in the Placing are fair and reasonable insofar as its shareholders are concerned.

 

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 1,198,002,899 Ordinary Shares in issue with each 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 1,198,002,899. 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").

 

A copy of this announcement is available on the Company's website, at www.botswanadiamonds.co.uk

 

 

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

Nominated & Financial Adviser

Strand Hanson Limited

Ritchie Balmer

Rory Murphy

David Asquith

 

 

+44 (0) 20 7409 3494

Broker 

First Equity Limited
Jason Robertson

 

+44 (0) 207 374 2212

Public Relations

BlytheRay
Megan Ray
 Said Izagaren

 

+44 (0) 207 138 3206

+44 (0) 207 138 3553

+44 (0) 207 138 3206

 

Teneo

Luke Hogg

Alan Tyrrell

Fia Long

Alan Reynolds

 

 

+353 (0) 1 661 4055

+353 (0) 1 661 4055

 

 

 

www.botswanadiamonds.co.uk

 

 


The notification below, made in accordance with the requirements of the 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)

£0.0032

5,859,375

 

Issue of Placing Warrants

Price(s)

Volumes(s)

£0.005

5,859,375


d)

Aggregated information

n/a

 

e)

Date of the transaction

6th August 2024

 

f)

Place of the transaction

Outside a trading venue

 

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated 

a)

Name

James 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)

£0.0032

7,812,500

 

Issue of Placing Warrants

Price(s)

Volumes(s)

£0.005

7,812,500


d)

Aggregated information

n/a

 

e)

Date of the transaction

6th August 2024

 

f)

Place of the transaction

Outside a trading venue

 

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated 

a)

Name

John Teeling

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)

£0.0032

7,812,500

 

Issue of Placing Warrants

Price(s)

Volumes(s)

£0.005

7,812,500


d)

Aggregated information

n/a

 

e)

Date of the transaction

6th August 2024

 

f)

Place of the transaction

Outside a trading venue

 

ENDS

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 or visit 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.
 
END
 
 
IOEDZGGRVVKGDZM]]>
TwitterFacebookLinkedIn