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Exercise of Warrants and Issue of Shares

RNS Number : 3758Y
African Potash Ltd
08 September 2015
 

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

8 September 2015

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

Exercise of Warrants and Issue of Shares

 

African Potash Limited, the AIM listed African exploration company, announces that on 4 September 2015, Cornhill Capital Limited ("Cornhill") exercised 10 million warrants to subscribe for new Ordinary Shares in the capital of the Company at an exercise price of 0.3p per share (further details of the warrants are contained in the Company's announcement of 17 April 2015).  In addition, the Company has agreed to issue a further 1,250,000 new Ordinary Shares in lieu of advisor's fees.  Accordingly the Company will be issuing 11,250,000 new Ordinary Shares in aggregate (the "New Shares").

 

Application has been made for the New Shares, which will rank pari passu in all respects with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission").  Admission is expected to be effective from 8.00 a.m. on or around 11 September 2015.  

 

The Company has no Ordinary Shares held in treasury.  The total number of voting rights in the Company following the issue of the New Shares will therefore be 766,733,946 (of which the New Shares will represent 1.47%).  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.

 

Andrew Frangos of Cornhill said, "Cornhill Capital is delighted to invest in African Potash by exercising its warrants - African Potash has proven to be one of the most exciting stocks of 2015."

 

**ENDS**

 

For further information visit www.africanpotash.com or contact the following:

 

Chris Cleverly

African Potash Limited

+44 (0) 20 7236 1177

Stewart Dickson

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Jeremy Stephenson

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

David Porter

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Colin Rowbury

Cornhill Capital Limited

+44 (0) 20 7710 9610

Charlotte Heap

St Brides Partners Ltd

+44 (0) 20 7236 1177      

Hugo de Salis

St Brides Partners Ltd

+44 (0) 20 7236 1177 

 


This information is provided by RNS
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