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Placing Update

RNS Number : 6169N
African Potash Ltd
19 May 2015
 

African Potash Limited / Index: AIM / Epic: AFPO / Sector: Mining

19 May 2015

African Potash Limited ("African Potash" or "the Company")

Placing Update

 

African Potash Limited, the AIM listed African exploration company, announces that it has agreed to extend the placing of new Ordinary Shares in the capital of the Company announced on 17 April 2015 (the "Placing Extension").

 

Pursuant to the Placing Extension the Company will issue, on 22 May 2015, a further 25,000,000 new Ordinary Shares (the "Additional Shares") at the placing price of 0.3p, raising approximately £75,000, in addition to the 183,333,333 new ordinary shares of no par value in the Company ("Ordinary Shares) as previously announced (the "Subsequent Placing Shares"), subject to shareholder approval being granted to the relevant resolutions at the Company's Annual General Meeting which will be held on 21 May 2015.

 

Admission of new Ordinary Shares to trading on AIM

Application has been made for the Additional Shares and the Subsequent Placing Shares, which will rank pari passu in all respects with the existing Ordinary Shares , to be admitted to trading on AIM ("Admission"), which is expected to be effective from 8.00 a.m. on 22 May 2015, subject to the passing of the resolutions referred to above.  

 

Total Voting Rights

The Company has no Ordinary Shares held in treasury. The total number of voting rights in the Company following the issue of the Additional Shares and the Subsequent Placing Shares will therefore be 743,842,643.  This figure may be used by shareholders in the Company 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 and Transparency Rules.

 

**ENDS**

 

For further information visit www.africanpotash.comor contact the following:

 

Chris Cleverly

African Potash Limited

+44 (0) 20 7236 1177

David Foreman

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000 

Stewart Dickson

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000  

Nick Bealer

Cornhill Capital Limited

+44 (0) 20 7710 9610

Susie Geliher

St Brides Partners Ltd

+44 (0) 20 7236 1177 

Charlotte Heap

St Brides Partners Ltd

+44 (0) 20 7236 1177 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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