Business
£1.8m Fundraising, Directors’ dealings and TVR
African Pioneer Plc has announced a £1.8 million fundraising at 0.90 pence per ordinary share to advance its copper-gold projects in Namibia and for working capital. The company is also issuing new shares to directors and consultants to settle accrued fees, and participants in the fundraising will receive warrants. Proceeds will primarily fund project activities in Namibia, Zambia, and Botswana, with a focus on the Ongombo and Ongeama copper-gold projects in Namibia, which have a significant resource estimate. The fundraising, along with fee settlements, will result in a dilution of the Concert Party's interest to 26.82%. Disclaimer*
About this update from African Pioneer Plc
[{"type":"text","content":"\n\n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW COMMON SHARES OF AFRICAN PIONEER PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 (\"MAR\") AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK MAR\"). MARKET SOUNDINGS, AS DEFINED IN MAR, WERE TAKEN IN RESPECT OF THE PLACING WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF THIS INSIDE INFORMATION, AS PERMITTED BY MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n\n2 February 2026\nAfrican Pioneer Plc\n(\"African Pioneer\", \"AFP\" or the \"Company\")\n£1.8M Fundraising\nDirectors' dealings\nIssue of Equity and TVR\nDilution of overall Concert Party interest\n \nAfrican Pioneer plc the exploration and resource development company with advanced projects in Namibia, Zambia and Botswana, is pleased to announce a fundraising of £1,800,000 (the \"Fundraising\") at 0.90 pence (the \"Fundraising Price\") per ordinary share of nil par value (\"Ordinary Shares\") to facilitate advancement of its projects focusing on the copper gold projects in Namibia and for working capital purposes. \n \nIn addition, as detailed below and to assist the Company in conserving cash the Company will be issuing new Ordinary Shares to Directors and to settle accrued fees due to them (\"Conversion Shares\") and consultants to settle accrued fees due to them (\"Consultant Shares\") in both instances at the Fundraising Price without any warrants. \n \nColin Bird, Executive Chairman of African Pioneer, commented \"We would like to thank existing investors that have supported ...