Conversion of consultants fees into equity

RNS Number : 8838V

Ironveld PLC

02 February 2017

 

2 February 2017 

Ironveld plc ("Ironveld" or the "Company")

Conversion of consultants fees into equity

Ironveld plc, the owner of a High Purity Iron, Vanadium and Titanium project located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa, announces that arrangements have been made with a consultant to convert fees payable for services into new ordinary shares of 1p in the Company ("Ordinary Shares").  The Company has approved the conversion of £180,563.70 representing amounts of fees owed to consultants into 3,801,341 new Ordinary Shares, issued at a price of 4.75p per Ordinary Share.

Application has been made for the 3,801,341 new Ordinary Shares to be admitted to AIM and dealings are expected to commence on 7 February 2017 ("Admission").

Total voting rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission of the 3,801,341 new Ordinary Shares the issued ordinary share capital of Ironveld will consist of 374,641,278 Ordinary Shares with voting rights attached. The Company does not hold any shares in treasury. This figure of 374,641,278 may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules ("DTRs"). 

Ends

For further information, please contact:

Ironveld plc Peter Cox, Chief Executive	c/o Camarco 020 3757 4980
Shore Capital and Corporate Limited Stephane Auton / Toby Gibbs (corporate finance) Jerry Keen (corporate broking)	020 7408 4090
Camarco Gordon Poole / Billy Clegg

 

END

 

 

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