BWA Group Plc - Proposed Offer for Subscription and Directors' Participation
Announcement provided byBWA Group plc · BWAP
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
3 November 2023
BWA Group PLC
(“BWA”, the “Group”, or the “Company”) (AQSE: BWAP)
Proposed Offer for Subscription and Directors’ Participation
BWA Group Plc [AQSE: BWAP], which holds mineral exploration licences in both
The Company has received firm commitments from its Directors and a major shareholder to subscribe for in excess of £450,000, representing over 50% of the proposed fundraising. All the Directors of the Company have committed to participate.
The majority of the funds raised are to be used to continue the Group’s exploration programme on its two claim areas in
An updated corporate presentation, together with the recently produced Competent Persons Report (December 2021), in which a detailed summary of exploration works and geological settings can be found, are both available on the Company’s website. A copy of the presentation can also be viewed through the following link:
The Company announced (27 April 2023 and 19 July 2023) further encouraging results from preliminary granulometric test-work and orientation heavy mineral separation test work showing promising evidence of Valuable Heavy Minerals (VHM) ilmenite, rutile, kyanite and zircon in the Dehane and Nkoteng licence areas and encouraging observations from reconnaissance site visits to newly granted Dehane 2, Dehane 3 and Nkoteng 2 licence areas (6th April 2023). These announcements have been supplemented by the announcement of 16 October 2023 reporting encouraging evidence of heavy mineral sands in the Dehane and Nkoteng licence areas.
The Ordinary Share issue will be made on a non-pre-emptive basis under the terms of the Board’s authority confirmed at the last AGM. Any shareholder, however, who may wish to subscribe for Ordinary Shares in the issue may express an interest to the Company by emailing email@example.com.
For further information on the Company, please visit:
BWA Group PLC
+44 (0)7770 225253
Allenby Capital Limited
Nick Harris/Lauren Wright
+44 (0)20 3328 5656
Links to the documents on the Company’s website
Company Announcement of 16 October 2023 - http://www.bwagroupplc.com/Announcements/16102023%20BWA-Cameroon-DehaneNkoteng-Licences-ReconnaissanceRNS13-10-2023.pdf
Competent Person’s Report - http://www.bwagroupplc.com/documents/BWA%20Nkoteng%20%20Dehane%20CPR%20Final_20211210.pdf
Announcement of 1 February 2022 - http://bwagroupplc.com/Announcements/01022022%20Positive%20Mineral%20Results%20for%20Nkoteng%20&%20Dehane%20Projects.pdf
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