BWA Group Plc - Issue of Equity - Closing of first round of subscriptions
Announcement provided by
BWA Group plc · BWAP07/12/2023 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
7 December 2023
BWA Group PLC
(“BWA”, the “Group”, or the “Company”) (AQSE: BWAP)
Closing of first round of subscriptions
BWA Group Plc [AQSE: BWAP], which holds mineral exploration licences in both
At the First Closing, the Company has raised a total of £457,000 through subscriptions for a total of 91,400,000 New Shares (the “Subscriptions”). The Subscriptions have been received from all three member of the board and directors (the “Board”) and two existing substantial shareholders. The Board expects to have a second and final closing round of subscriptions for New Shares on 31 December 2023. The use of funds is as set out in the Notification.
The New Shares will be allotted under the Company’s existing unspent share issue authorities and are expected to be admitted to trading on the AQSE Growth Market on 12 December 2023 (“Admission”). On Admission, the revised shareholdings of the Directors and Significant Shareholders, will be, to the best knowledge of the Company, as follows:
Name | Current Shareholding | % of Current Share Capital | New Shares | Enlarged Shareholding | % of Enlarged Share Capital |
Directors |
|
|
|
|
|
James Butterfield | 57,618,739 | 11.28% | 200,000 | 57,818,739 | 9.85% |
Jonathan Wearing1 | 36,540,000 | 7.16% | 60,000,000 | 96,540,000 | 16.45% |
John Byfield | 5,440,000 | 1.07% | 200,000 | 5,640,000 | 0.96% |
Significant Shareholders |
|
|
|
|
|
Richard Battersby2 | 98,337,890 | 19.26% | 1,000,000 | 99,337,890 | 16.93% |
G & O Energy Investments Limited | 57,000,000 | 11.16% |
| 57,000,000 | 9.71% |
Mr D M Cass | 49,782,022 | 9.75% | 30,000,000 | 79,782,022 | 13.60% |
Alex Borrelli | 35,438,469 | 6.94% |
| 35,438,469 | 6.04% |
Gudmundur Svavarsson | 32,049,000 | 6.28% |
| 32,049,000 | 5.46% |
Mr J Harvey | 23,285,193 | 4.56% |
| 23,285,193 | 3.97% |
Vilhjalmur Thor Vilhjalmsson | 20,859,200 | 4.08% |
| 20,859,200 | 3.55% |
- Mr Wearing’s holding includes Tricastle Investments Limited, a company he controls.
- Mr Battersby’s holding include shares held by The Bank of
New York (Nominees) Limited and CGWM Nominees Limited as nominees for Bath Group Limited and Second Neric Limited, both of which companies he controls.
The issue of the New Shares constitutes a related party transaction under the AQSE Growth Market Access Rules. The Board has concluded, having exercised reasonable care, skill and diligence, that the related party transaction are fair and reasonable as far as the shareholders of the Company are concerned.
On Admission, the Company will have 602,081,547 Ordinary Shares in issue, each with one voting right. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company is 496,658,507. This figure should be used by shareholders from Admission 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 FCA's Disclosure Guidance and Transparency Rules.
Any shareholder, however, who may wish to subscribe for New Shares may express an interest to the Company by emailing enquiries@bwagroupplc.com.
The Board are responsible for the contents of this announcement.
For further information on the Company, please visit:
http://www.bwagroupplc.com/index.html
or contact:
BWA Group PLC James Butterfield Chairman
| +44 (0)7770 225253 enquiries@bwagroupplc.com | |
Jonathan Wearing Director
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Allenby Capital Limited Corporate Adviser Nick Harris/Lauren Wright | +44 (0)20 3328 5656
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
Details of the persons discharging managerial responsibilities / persons closely associated.
Name | James Butterfield |
Reason for notification | Director of BWA Group Plc |
| Initial |
Details of the issuer, emission allowance market participant, auction | BWA Group Plc |
LEI | 213800XG3K7PTAAG8630 |
Description of the financial instrument, type of instrument | Ordinary shares of 0.5p each |
Identification code | ISIN: GB0033877555 |
Nature of the transaction | Subscription for Ordinary Shares |
Price(s) and | 200,000 |
Aggregated information | N/A |
Date of the transaction | 5 Dec 2023 |
Place of the transaction | N/A |
Name | John Byfield |
Reason for notification | Director of BWA Group Plc |
| Initial |
Details of the issuer, emission allowance market participant, auction | BWA Group Plc |
LEI | 213800XG3K7PTAAG8630 |
Description of the financial instrument, type of instrument | Ordinary shares of 0.5p each |
Identification code | ISIN: GB0033877555 |
Nature of the transaction | Subscription for Ordinary Shares |
Price(s) and | 200,000 |
Aggregated information | N/A |
Date of the transaction | 5 Dec 2023 |
Place of the transaction | N/A |
Name | Jonathan Wearing |
Reason for notification | Director of BWA Group Plc |
| Initial |
Details of the issuer, emission allowance market participant, auction | BWA Group Plc |
LEI | 213800XG3K7PTAAG8630 |
Description of the financial instrument, type of instrument | Ordinary shares of 0.5p each |
Identification code | ISIN: GB0033877555 |
Nature of the transaction | Subscription for Ordinary Shares |
Price(s) and | 60,000,000 |
Aggregated information | N/A |
Date of the transaction | 5 Dec 2023 |
Place of the transaction | N/A |
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