Notice of General Meeting

 

 

30 December 2022

 

 

Beowulf Mining plc

("Beowulf" or the "Company")

Notice of General Meeting

On 20 December 2022, Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, announced its intention to undertake, in the first quarter of 2023, a preferential rights issue of Swedish Depository Receipts ("SDRs") with a PrimaryBid retail offer of ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") in the UK.  The SDRs represent interests in Ordinary Shares and the preferential rights issue of SDRs will amount to approximately SEK 85 million (approximately £6.7 million) before deduction for transaction related costs (the "Rights Issue"). The PrimaryBid retail offer of Ordinary Shares in the UK, will amount to a maximum of approximately SEK 27 million (approximately £2.1 million) before deduction for transaction related costs (the "UK Issue" and, together with the Rights Issue, the "Capital Raise").

 

In order to complete the Capital Raise without unnecessary delay, the Company is to hold a General Meeting ("GM") in order to increase the authorities granted at the 2022 Annual General Meeting (the "Existing Authority") to issue an additional one third of the Company's existing share capital ("Existing Share Capital") and to disapply pre-emption rights in respect of this issue (the "Authority") to ensure that the Directors have the requisite authority and flexibility to increase the Company's share capital, as needed.  The Authority (and, for the avoidance of doubt, the Existing Authority) shall expire on the date of the next annual general meeting of the Company in 2023.

 

Accordingly, the Company is pleased to announce that a GM of the Company will be held at the Waterfront Building, Klarabergsviadukten 63, 101 23 Stockholm, Sweden, at 08:00 a.m. CET on 17 January 2023.  The Notice of Meeting has been posted to shareholders and the following documents are now available on the Investor section of the Company's website under "GM 2023":  https://beowulfmining.com/ :

 

- Notice of 2023 GM;

- Form of Proxy (Shareholders);

- Form of Proxy (Holders of SDRs); and

- Short Notice of GM (Holders of SDRs) (Swedish).

 

Shareholders who have elected to receive e-communications from the Company have received a Form of Proxy containing a notification as to the availability of the Notice of GM on the Company website. All other shareholders have received a copy of the Notice of GM and a Form of Proxy.

 

Enquiries:

Beowulf Mining plc

Kurt Budge, Chief Executive Officer, Tel: +44 (0) 20 7583 8304

 

Sedermera Corporate Finance AB

Tel:  +46 (0) 40-615 14 10

 

SP Angel Corporate Finance LLP

Ewan Leggat / Stuart Gledhill / Adam Cowl

Tel: +44 (0) 20 3470 0470

 

Bird & Bird Advokat KB

Tel:  +46 (0)8 506 320 00

 

BlytheRay

Tim Blythe / Megan Ray Tel: +44 (0) 20 7138 3204