African Potash Ltd. (AFPO) African Potash Ltd.: Completion of Placing and issue of warrants 08-Jan-2018 / 14:49 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
08 January 2018
AFRICAN POTASH LIMITED
("African Potash" or the "Company")
Completion of Placing and issue of warrants
African Potash, is pleased to announce that pursuant to the placings announced on 16 November 2017 and the passing of the necessary resolutions at the General Meeting held on 13 December 2017, it has completed the Subsequent placing, securing approximately £332,000 before expenses, in addition to the Initial placing which raised £68,000 before expenses.
The proceeds from the Placing will be used for working capital purposes, to further support and develop the Company's African fertilizer trading businesses and in preparation for the deployment of a proprietary payment system using blockchain technology.
Pursuant to the Subsequent placing the Company has issued:
As a result of an error in the original warrant documentation the Company has cancelled the 111,111,111 warrants to subscribe for new ordinary shares previously issued pursuant to the placing on 17 July 2017, and issued a further 200,000,000 warrants to subscribe for new ordinary shares in the Company at a price of 0.025p per share, exercisable before 15 December 2022.
Total Voting rights
The Placing Shares will rank pari passu with the existing ordinary shares and amount to 36% of the enlarged issued share capital of the Company.
Following the issue of the Placing Shares, in accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company will have 3,847,223,583 ordinary shares of no par value in issue each with voting rights. The Company does not hold any shares in treasury. The above figure of 3,847,223,583 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 share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The Directors of the Company accept responsibility for the content of this announcement.
For further information visit www.africanpotash.com or contact the following:
For further information, please contact:
|End of Announcement||EQS News Service|