(“BWA” or the “Company”)
Conversion of Loan Notes and Update on Funding; Total Voting Rights
Conversion of Loan Notes
The Convertible Loan Notes have been converted at a price of £0.005 and 60,000,000 ordinary shares of £0.005 each in the Company (“Ordinary Shares”) have therefore been allotted to St Georges. Application will be made for the Ordinary Shares to be admitted to trading on the NEX Exchange Growth Market and admission is expected to become effective on
The Directors of BWA believe that the conversion of Convertible Loan Notes by St Georges is a strong indication of the level of support between the two companies and they welcome St Georges as a significant shareholder in BWA.
Directors' Interests
Following the issue of Ordinary Shares to St Georges, the interests of the Directors of BWA in the capital of the Company are:
Director Number of Ordinary % of Issued Share Ordinary Shares under Shares Capital Option Richard Battersby * 43,118,982 17.07 5,871,262 Vilhjalmur Thor - - - Vilhjalmsson James Butterfield 42,575,301 16.85 5,871,262 Alex Borrelli 25,202,618 9.98 5,871,262
*The shares in which
Update on Funding
The Directors of BWA announce that settlement has not yet been received for £88,000 of the £100,000 of Convertible Loan Notes issued for cash at the time of the acquisition of KOTN. BWA has secured a binding corporate guarantee that the remaining funds will be received by
Total Voting Rights
Following the issue of Ordinary Shares referred to above, the Company has 252,622,671 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 252,622,671 should 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 to their interest in, the Company under the
The Directors of BWA are responsible for the contents of this announcement.
For further information please contact:
07836 238 172
00 354 869 7296
020 7469 0930
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a
