ACP Armadale Capital Plc

TIDMACP 
 
 

Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company

Armadale Capital Plc

('Armadale' or 'the Company')

Block Admission

Armadale Capital plc, the AIM quoted investment group focused on natural resource projects in Africa, announces that application has been made for the Block Admission of 83,274,220 ordinary shares of 0.1 pence each in the capital of the Company ("New Ordinary Shares" and "Ordinary Shares"), ranking pari passu with the Company's existing Ordinary Shares. These New Ordinary Shares may be issued from time to time pursuant to the exercise of existing Warrants and Convertible Loan Notes by their respective holders.

It is expected that admission will become effective in the New Ordinary Shares on 23 June 2020 ("Admission"). The Company's issued share capital currently consists of 459,519,667 Ordinary Shares, with no shares held in Treasury.

**ENDS**

 
Enquiries: 
Armadale Capital Plc 
 Nick Johansen, Non-Executive Director 
 Tim Jones, Company Secretary             +44 (0) 20 7236 1177 
Nomad and broker: finnCap Ltd 
 Christopher Raggett / Teddy Whiley       +44 (0) 20 7220 0500 
Joint Broker: SI Capital Ltd 
 Nick Emerson                             +44 (0) 1483 413500 
Press Relations: St Brides Partners Ltd 
 Charlotte Page / Beth Melluish           +44 (0) 20 7236 1177 
 

Notes

Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.

The Company's primary focus is the Mahenge Liandu graphite project a long-life low-cost graphite development project in south-east Tanzania. Mahenge Liandu is located in a highly prospective region and is projected to produce 109,000 tonnes of large flake high-purity graphite per annum. The Project has demonstrated robust economics with headline figures including a pre-tax NPV of US$430m and IRR of 91%. An updated DFS produced in June 2020 forecasted pre-tax cashflow of US$985m to be generated from an initial 15 year mine life, utilising just 25% of the resource. The Resource remains open in multiple directions offering significant further upside.

Other assets Armadale has an interest in, include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.

More information can be found on the website www.armadalecapitalplc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200618005423/en/

 
    CONTACT: 

Armadale Capital Plc

 
    SOURCE: Armadale Capital Plc 
Copyright Business Wire 2020 
 

(END) Dow Jones Newswires

June 18, 2020 07:00 ET (11:00 GMT)

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