BWA Group PLC - Conversion of Securities & Trading Update
Announcement provided by
BWA Group plc · BWAP03/10/2022 15:31
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
3 October 2022
BWA Group PLC
(“BWA” or the “Company”)
Conversion of Loan Notes
Trading Update
BWA Group plc [AQSE: BWAP], which has mineral exploration licences in both Cameroon and
Application will be made for the New Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on 7 October 2022 (“Admission”).
On Admission, Mr Svavarsson will have an interest in a total of 32,049,000 Ordinary Shares, equivalent to 7.03% of the issued Ordinary Shares.
Total Voting Rights
Following Admission, the Company will have 455,896,891 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury. Following Admission, the figure of 455,896,891 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 to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
Significant Shareholdings
Following Admission, the Company is aware of the following significant and director shareholdings:
Shareholder | Number of Ordinary Shares Held | Percentage of Ordinary Shares Held |
Directors | 183,037,615 | 40.15% |
Richard Battersby | 94,676,314 | 20.77% |
James Butterfield | 53,419,739 | 11.72% |
Alex Borrelli | 31,316,561 | 6.87% |
James Hogg | 3,625,001 | 0.80% |
Other Large Shareholders | ||
G & O Energy Investments Limited | 57,000,000 | 12.50% |
Mr D M Cass | 33,532,022 | 7.36% |
Gudmundur Svavarsson | 32,049,000 | 7.03% |
Mr J Harvey | 23,285,193 | 5.11% |
Vilhjalmur Thor Vilhjalmsson | 20,859,200 | 4.58% |
Tricastle Investments Ltd | 20,000,000 | 4.39% |
Christian |
16,403,200 | 3.60% |
Ordinary Shares not in public hands | 240,037,615 | 52.65% |
Trading Update
Since 30th June 2022 the following material events have occurred, all of which have been announced:
- The Group has been granted additional licence areas designated Nkoteng 2 and Dehane 2 approximately doubling the licence area available to the Group
- The company announced Granulometric Test results at Nkoteng 1
The effect of these events has been to increase the likely net asset value of the business through the substantial increase in exploration area, both of which are contiguous with existing claim areas. As at 31st August 2022 has cash balances of £8,118 and net current liabilities of £96,586.
The Directors of BWA are responsible for the contents of this announcement.
Ends -
For further information:
BWA Group PLC James Butterfield Interim Chairman |
+44 7770 225253 enquiries@bwagroupplc.com |
Allenby Capital Limited Corporate Adviser Nick Harriss/Freddie Wooding |
+44 20 3328 5656 |
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