Placing to raise £500,000

RNS Number : 7986E

Botswana Diamonds PLC

14 February 2018

 

14^th February 2018

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Placing to raise £500,000

The Directors of Botswana Diamonds (AIM: BOD) are pleased to announce that the Company has raised £500,000 (before expenses) via the placing of 50,000,000 new ordinary shares (the "Placing Shares") with new and existing investors at a price of 1p per Placing Share (the "Placing"). The Placing Shares represent approximately 9.8% of the Company's issued share capital as enlarged by the Placing.

The net proceeds of the Placing will fund ongoing diamond exploration in South Africa and Botswana and will also provide the Company with additional working capital.

The Placing shares will rank pari passu with the Company's existing ordinary shares of 0.25p each ("Ordinary Shares"). Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 28^th February 2018.

Following the Admission of the Placing Shares, there will be a total of 509,282,508 Ordinary Shares in issue with each share carrying the right of one vote.  The above figure 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 change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

SVS Securities Plc have been appointed Joint Broker with immediate effect.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman	[phone]
James Campbell, Managing Director	[phone]
Northland Capital Partners Limited
David Hignell/Gerry Beaney (Corporate Finance)	[phone]
John Howes (Broking)
SVS Securities Plc	[phone]
Tom Curran
Ben Tadd
Blytheweigh	[phone]
Camilla Horsfall	[phone]
Nick Elwes	[phone]
Teneo PSG
Luke Hogg	[phone]
Alan Tyrrell	[phone]

www.botswanadiamonds.co.uk

 

END

 

 

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