Skip to content

BWA Group PLC - Conversion of Securities & Trading Update


Announcement provided by

BWA Group plc · BWAP

03/10/2022 15:31

BWA Group PLC - Conversion of Securities & Trading Update PR Newswire

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 Canada at various stages of development and is quoted on London’s AQSE Growth Market, announces that it has allotted a total of 32,049,000 ordinary shares of 0.5 pence each in the Company (“Ordinary Shares”), at a price of 0.5 pence per share (the “New Shares”), in settlement of a notice of conversion received for £160,245 of convertible loan notes (the “Loan Notes”). The Loan Notes were issued to Gudmundur Svavarsson, as part of the acquisition of Kings of the North Corp., as announced on 5 September 2019.

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 Tremblay 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

View more ...

BWAP announcementsAll announcements

Company

  • About
  • News
  • Investor Relations
  • Contact
  • Careers

© Aquis Exchange 2024. All rights reserved.

Terms & ConditionsPrivacy PolicyModern Slavery & Human Trafficking Policy
System statusnormal