W Resources PLC Issue of Shares and Financing Update (2035V)
29 Noviembre 2019 - 08:48AM
UK Regulatory
TIDMWRES
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
GBP360,000. 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 EUR1.0m. The company confirms that it continues to
expect to receive the EUR5.3 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 Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Seamus Fricker
T: +44 (0) 20 7193 7463 T: +44 (0) 20 7383 5100
www.wresources.com
Joint Broker Joint Broker
Turner Pope Investments (TPI) Ltd Alternative Resource Capital /
Andy Thacker Shard Capital
T: +44 (0) 203 657 0050 Alex Wood
www.turnerpope.com 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
wres@almapr.co.uk
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 rns@lseg.com or visit www.rns.com.
END
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