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Issue of Shares and Financing Update

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RNS Number : 2035V
W Resources PLC
29 November 2019
 

 

 

29 November 2019

 

 

W Resources Plc

("W" or the "Company")

Issue of Shares and Financing Update

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, has issued 90,000,000 ordinary shares of 0.1p per share ("Ordinary Shares") at a price of 0.40p per Ordinary Share to a new Spanish investor who has experience in the mining industry for a total placement value of £360,000. These funds will be used to provide working capital during the ramp-up period at La Parrilla.

Financing update

As mentioned in the announcement dated 15 November 2019 the Company is advanced in finalising an additional debt facility of approximately 1.0m. The company confirms that it continues to expect to receive the €5.3 million grant from the Junta de Extremadura in Q1 2020.  A further financing update will be provided in due course.

Settlement and Dealings

Application will be made for the new Ordinary Shares being issued in connection with the Placing to be admitted to trading on AIM with admission expected to occur on or around 5 December 2019.

Total Voting Rights

Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 6,378,427,640 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 6,378,427,640 Ordinary Shares 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 Guidance and Transparency Rules.

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

W Resources Plc

Michael Masterman

T: +44 (0) 20 7193 7463

www.wresources.com

 

Grant Thornton UK LLP

Colin Aaronson / Seamus Fricker

T: +44 (0) 20 7383 5100

 

 

Joint Broker

Turner Pope Investments (TPI) Ltd

Andy Thacker

T: +44 (0) 203 657 0050

www.turnerpope.com

Joint Broker

Alternative Resource Capital / Shard Capital

Alex Wood

T:+44 (0) 207 186 9004

www.altrescap.com

 

Damon Heath

T:+44 (0) 207 186 9952

www.shardcapital.com

Alma PR

Justine James

M: +44 (0) 7525 324431

[email protected]

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: W Resources PLC

Price: 0.3

Market: AIM
Market Cap: £19.14 m
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