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Xtract Resources plc - Issue of Equity

RNS Number : 6881X
Xtract Resources plc
20 December 2019
 

 

 

For immediate release

20 December 2019

 

Xtract Resources Plc

("Xtract" or the "Company")

Issue of equity

 

The Board of Xtract announces that it has today issued 18,795,236 new Ordinary Shares of 0.02p each in the capital of the Company ("New Shares") at an issue price of 0.8395p per Ordinary Share to KPZ International ("KPZ"). As previously announced on 21 October 2019, the Company had informed KPZ that it intended to exercise its option to act as contractor  for the  Kalengwa Processing project on the copper large scale mining license number 24401-HQ-LEL located in the central part of the Republic of Zambia. Under the Kalengwa Processing agreement, the Company had agreed to pay US$200,000 to KPZ on exercising its option to act as operator, to be settled through the issuance of new Xtract ordinary shares.

 

Application will be made for admission of the New Shares to trading on AIM on or around 2 January 2020. The New Shares will rank pari passu in all respects with the Company's existing issued ordinary shares.

 

Total Voting Rights

On Admission of the New Shares, the Company will have 457,303,288 Ordinary Shares in issue with voting rights.  Xtract does not currently hold any shares in treasury.  Accordingly, this figure of 457,303,288 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.

 

Enquiries:

 

Xtract Resources Plc

Colin Bird,

Executive Chairman

 

+44 (0)20 3416 6471

www.xtractresources.com

Beaumont Cornish Limited

Nominated Adviser and Joint Broker

Roland Cornish

Michael Cornish

Felicity Geidt

+44 (0)207628 3396

www.beaumontcornish.co.uk

 

Novum Securities Limited

Joint Broker                  

 

Colin Rowbury 

 

+44 (0)207 399 9427

www.novumsecurities.com  

 



 

ENDS


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Quick facts: Xtract Resources PLC

Price: 0.925

Market: LSE
Market Cap: £4.23 m
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