Issue of Equity

RNS Number : 6905L

Equatorial Mining & Exploration PLC

20 April 2018

20^th April 2018

Equatorial Mining & Exploration Plc ("EME" or the "Company")

Issue of New Ordinary Shares and Trading Update

The Company announces that it has issued a total of 690,000,000 new ordinary shares of 0.01p as set out below:

Exercise of 640,000,000 0.01p warrants

Described below is a summary of warrant exercises leading to the issue of 640,000,000 new ordinary shares.

The Company has exercised warrants as follows:

· A warrant holder which remitted £5,000 and an exercise notice last year was delayed in posting the warrant certificate. This has new been found and received by the Registrars. The Company issued 50,000,000 shares.

· An existing shareholder and long standing warrant holder exercised 100,000,000 of his holding. There was a delay to the issuing of the shares due to a missing warrants certificate. The Company issued 100,000,000 shares.

· On 13^th March the Company announced the issue of a Convertible Loan Note Instrument which included newly issued 0.01p warrants. These were issued and concurrently exercised against overdue unpaid fees and expenses. The Company issued 200,000,000 shares.

· Existing 0.01p warrant holders exercised in March with the consideration being the cancellation of overdue and unpaid fees and expenses. The Company issued 290,000,000 shares.

All outstanding 0.1p warrants expired at the end of March and the Company declares that there are no 0.1p warrants remaining in issue.

Issue of 50,000,000 ordinary shares

The Company owed £5,000 to a long standing creditor who was willing to receive shares in lieu of the Company's indebtedness to him. Accordingly, 50,000,000 new ordinary shares have been issued.

The new shares will rank pari passu with the Company's existing ordinary shares.

The 690,000,000 new ordinary shares will be admitted to trading on NEX Exchange Growth Market on 23 April 2018.

As a result, the changes to the Company's shares, warrants and convertible loan notes in issue are tabulated below:

	Ord Shares of 0.01p	Warrants to subscribe for ordinary shares at 0.01p	Warrants to subscribe for ord. shares at 0.05p	0.41p Convertible loan notes
Previously in issue	6,932,191,670	966,750,000	220,000,000	£40,000
Currently in issue	7,622,191,670	zero	220,000,000	£40,000

Changes to the Directors' stock interests are set out below:

	Ord shares of 0.01p	% of enlarged share capital	Warrants to subscribe for ordinary shares at 0.01p by March 2018	Employee Benefits Trust under option at 0.01p per share	0.41p Conv. Loan Notes
Nicholas Nelson	543,500,000	7.1	zero	891,990,000	£10,000
Simon Retter	80,750,000	1.1	zero	200,000,000	£5,000

Shareholders with 3% or more of the issued share capital

Registered Shareholder	Shareholding	% of enlarged share capital
JIM Nominees Limited	2018,961,665	26.5
First Names Trust Company Limited	1,332,400,000	17.5
Spreadex Limited	823,100,000	10.8
GTI International Limited	800,000,000	10.5
Pershing Nominees Limited	448,533,335	5.9
WB Nominees Limited	293,500,000	3.9
Christopher Potts	250,000,000	3.3