Issue of Equity

RNS Number : 3871G

Equatorial Mining & Exploration PLC

05 November 2018

 

5th November 2018

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

Result of Annual General Meeting

Issue of New Ordinary Shares and Warrants to subscribe for Ordinary Shares

The Company announces that at the Annual General Meeting, all resolutions were duly passed.

Further to an Investment Agreement with ARQ Minerals (Pty) Limited ("ARQ") announced on 17^th July 2018, EME is pleased to announce that ARQ has since made additional investments in the Company in return for 300,000,000 ordinary shares and 300,000,000 warrants to subscribe for ordinary shares at 0.02p per share.

In addition, as part of the Company's commitment to rid itself of all legacy debt 300,000,000 further shares have been issued to a former creditor and the details are tabulated below

Accordingly the Company announces the issue of a total 600,000,000 new ordinary shares of 0.01p.

The new shares will rank pari passu with the Company's existing ordinary shares and will be admitted to trading on NEX Exchange Growth Market on  6^th November 2018.

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

	Ord Shares of 0.01p	Warrants to subscribe for ordinary shares at 0.02p
Previously in issue	10,659,849,507	500,000,000
Currently in issue	11,259,849,507	800,000,000

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

	Ord shares of 0.01p	% of enlarged share capital	Employee Benefits Trust under option at 0.01p per share
Nicholas Nelson	545,939,024	4.8	891,990,000
Simon Retter	116,636,179	1.0	200,000,000

Shareholders with 3% or more of the issued share capital

Registered Shareholder	Shareholding	% of enlarged share capital
JIM Nominees Limited	2,676,866,870	23.7
First Names Trust Company Limited	1,332,400,000	11.8
M M Daniel	1,241,326,000	11.0
Spreadex Limited	823,100,000	7.3
GTI International Limited	800,000,000	7.1
Reba Global Pty Ltd	800,000,000	7.1
Pershing Nominees Ltd	727,386,854	6.5
Alexander David Securities	600,000,000	5.3
M Staten	600,000,000	5.3

Enquiries:

Equatorial Mining & Exploration Plc: Nicholas Nelson, Executive Chairman	[e-mail]
NEX Exchange Adviser and Broker Alexander David Securities James Dewhurst	[phone]

The Directors take responsibility for this announcement.

 

END

 

 

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