Business
Placing to raise £250,000
Placing to raise £250,000.
About this update from Botswana Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 0633B Botswana Diamonds PLC 28 January 2020 \n\n28th January 2020\nBotswana Diamonds PLC \n(\"Botswana Diamonds\" or the \"Company\")\nPlacing to raise £250,000 \n\n \n\nPlacing \nThe Board of Botswana Diamonds (AIM: BOD) is pleased to announce that it has today undertaken a placing with existing and new investors to raise £250,000 via the issue of 41,666,667 new ordinary shares (the \"Placing Shares\"), at a placing price of 0.6p per Placing Share (the \"Placing Price\"). Each Placing Share has one warrant attached with the right to subscribe for one new ordinary share at 0.6p per new ordinary share for a period of two years from 28th January 2020 (the \"Placing Warrants\"), being the expected date of the Placing Warrants issue. \n \nThe Placing Shares will rank pari passu with the Company's existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that such admission will become effective on or around 11th February 2020.\n \nUse of Proceeds\nThe funds raised will be used to fund exploration activities during the current year in Botswana, Zimbabwe and South Africa, which remain ongoing, and to provide additional working capital for the Company. \n \nTotal Voting Rights\nIn conformity with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority (\"FCA\"), the Company announces the following:\n \nFollowing the issue of the Placing Shares, there will be a total of 669,221,902ordinary shares of 0.25p each in issue with each ordinary share carrying the right to one vote (\"Ordinary Shares\"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 669,221,902. 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 a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.\n \nSpecial note concerning the Market Abuse Regulation\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 (\"MAR\"). Market soundings, as defined in MAR, were taken in respect of the Placing, with the result that cer...