W Resources PLC Atlas Conversion Notice (0427T)
22 Marzo 2021 - 7:00AM
UK Regulatory
TIDMWRES
RNS Number : 0427T
W Resources PLC
22 March 2021
22 March 2021
W Resources Plc
("W" or the "Company")
Atlas Conversion Notice
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining
and exploration company with assets in Spain and Portugal, has
received a Conversion Notice from Atlas Capital Markets ("Atlas")
for GBP100,000 of Convertible Bonds, the fifth tranche of the first
GBP500k tranche drawn from the GBP4m facility.
As the conversion price was below the nominal value of a W
ordinary share of 0.1p per share ("Ordinary Share"), the Company
has agreed with Atlas that it issue 100,000,000 Ordinary Shares at
a conversion price of 0.1p per Ordinary Share. In addition, W will
pay GBP20,200 to Atlas as compensation for Atlas being unable to
convert at price lower than the nominal value of an Ordinary
Share.
Settlement and Dealings
Application will be made for the admission trading on AIM of the
100,000,000 Ordinary Shares ("Admission"), which is expected on or
around 26 March 2021,
Total Voting Rights
Following Admission, the Company's enlarged issued share capital
will comprise 7,809,935,731 Ordinary Shares with voting rights. The
Company has no shares held in Treasury. This figure of
7,809,935,731 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.
Capital Reorganisation
As announced on 8 March 2021, the Company will be holding a
general meeting on 31 March 2021 at which shareholders will
consider resolutions proposed to reorganise the Company's share
capital. As a result of the issue of shares to Atlas, should
shareholders pass the requisite resolutions, it is now anticipated
that there will be 78,099,358 New Ordinary Shares (as defined in
the announcement of 8 March 2021) following the Capital
Reorganisation.
Information communicated within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 which is part of UK law by virtue of
the European Union (withdrawal) Act 2018. 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
Paul Hailes, CFO Colin Aaronson / Seamus Fricker
investor@wresources.com T: +44 (0) 20 7383 5100
www.wresources.com
Joint Broker Joint Broker
Turner Pope Investments (TPI) Alternative Resource Capital /
Ltd Shard Capital
Andy Thacker / Zoe Alexander Alex Wood
T: +44 (0) 203 657 0050 T:+44 (0) 20 7186 9004
www.turnerpope.com www.altrescap.com
Damon Heath
T:+44 (0) 20 7186 9952
www.shardcapital.com
Alma PR
Justine James
T: +44 (0) 20 3405 0205
M: +44 (0) 7525 324431
wres@almapr.co.uk
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END
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March 22, 2021 09:00 ET (13:00 GMT)
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