Business
Conversion of consultants fees into equity
Conversion of consultants fees into equity.
About this update from Ironveld Plc
[{"type":"text","content":"\n \nRNS Number : 8838V Ironveld PLC 02 February 2017 \n\n2 February 2017 \nIronveld plc (\"Ironveld\" or the \"Company\")\nConversion of consultants fees into equity\n \n \nIronveld 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. \n \nApplication 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\").\n \nTotal voting rights\n \nFor 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\"). \n \nEnds\n \nFor further information, please contact:\n\n\n\n\nIronveld plc\nPeter Cox, Chief Executive\n\n\nc/o Camarco\n020 3757 4980\n\n\n\n\nShore Capital and Corporate Limited\nStephane Auton / Toby Gibbs (corporate finance)\nJerry Keen (corporate broking)\n\n\n020 7408 4090\n\n\n\n\nCamarco\nGordon Poole / Billy Clegg\n\n\n\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCLLFILFIIFIID\n ","length":3530,"tagName":"div"}]