Exercise of Share Options

RNS Number : 4642C

AfriTin Mining Ltd

22 February 2022

 

22 February 2022

AfriTin Mining Limited

("AfriTin" or the "Company")

Exercise of Share Options

AfriTin has received notice from a share option holder to exercise 2,336,842 share options at an exercise price of 3p, 1,468,421 share options at an exercise price of 3.5p and 1,468,421 share options at an exercise price of 4p; and accordingly the Company has today issued 5,273,684 Ordinary Shares (the "Option Shares") to satisfy these exercises.

Application has been made to admit the Option Shares to trading on AIM and it is anticipated that the application will be effected and dealings will commence on 28 February 2022 ("Admission").

Disclosure and Transparency Rules

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, upon Admission its issued share capital will comprise 1,121,841,684 Ordinary Shares of no-par value upon Admission (the "Enlarged Share Capital"). All of these Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in treasury. The total number of voting rights in the Company will therefore be 1,121,841,684 upon Admission. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the DTRs.

AfriTin Mining Limited	[phone]
Anthony Viljoen, CEO
Nominated Adviser	[phone]
WH Ireland Limited Katy Mitchell
Corporate Advisor and Joint Broker
H&P Advisory Limited Andrew Chubb Jay Ashfield Nilesh Patel	[phone]
Stifel Nicolaus Europe Limited Ashton Clanfield Callum Stewart	[phone]
Tavistock Financial PR (United Kingdom)	[phone]
Jos Simson Nick Elwes Oliver Lamb

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining Limited is a London-listed tech-metals mining company with a vision to create a portfolio of globally significant, conflict-free, producing assets. The Company's flagship asset is the Uis Tin Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.

AfriTin is managed by an experienced board of directors and management team with a current strategy to ramp-up production at the Uis Tin Mine in Namibia to 10,000 tonnes of tin concentrate and 350,000 tonnes of lithium concentrate in a Phase 2 expansion, having reached Phase 1 commercial production in 2020. The Company strives to capitalise on the solid supply/demand fundamentals of tin and lithium by developing a critical mass of resource inventory, achieving production in the near term and further scaling production by consolidating tech-metal assets in Africa.

 

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