Latest News

Raises Additional GBP2 million

RNS Number : 1853R
African Potash Ltd
31 October 2011
 



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

31 October 2011

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

Raises Additional £2 million

 

African Potash Limited, an investing company focussed on potash assets within sub-Saharan Africa, is pleased to announce that as envisaged in its Admission Document it has raised a further £2 million through the issue of 40 million new Ordinary Shares at 5 pence per share.  These funds are in addition to the £4.185 million raised by way of a placing of Ordinary Shares in conjunction with the Company's admission to AIM on 30 September 2011.  The funds raised will be used to implement the Company's investing strategy focussed on acquiring or investing in potash assets or projects in sub-Saharan Africa and advancing these through the exploration and development cycle.

 

The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company.  Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ('Admission').  It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00 a.m. on Friday 4 November 2011.

 

Following this Placing by the Company the number of Ordinary Shares in issue will be 198,700,000.

 

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

 

Ed Marlow

African Potash Limited

+44 (0) 20 7408 9200

Jonathan Wright

Seymour Pierce Limited

+44 (0) 20 7107 8000

David Foreman

Seymour Pierce Limited

+44 (0) 20 7107 8000

Richard Greenfield

GMP Securities Europe LLP

+44 (0) 20 7647 2836

Hugo de Salis

St Brides Media and Finance Ltd

+44 (0) 20 7236 1177

Susie Geliher

St Brides Media and Finance Ltd

+44 (0) 20 7236 1177

 

 

 


This information is provided by RNS
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