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African Potash Ltd. (AFPO)
African Potash Ltd.: Result of AGM and Completion of Acquisition
16-Jun-2017 / 14:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
The information communicated within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this announcement,
this inside information is now considered to be in the public domain.
16 June 2017
AFRICAN POTASH LIMITED
("African Potash" or the "Company")
African Potash Limited / Epic: AFPO / Sector: Mining
Result of AGM and Completion of Acquisition
African Potash is pleased to announce that all resolutions were duly passed
at the Company's Annual General Meeting held earlier today.
As a result, the Company will now move to completion of the agreement to
acquire a strategic 21% equity stake in Advanced Agricultural Holdings (Pty)
Limited (the 'AAH Agreement'), entered into and announced on 30 March 2017.
Pursuant to the terms of the AAH Agreement, the Company will issue
221,601,740 new ordinary shares of no par value in the capital of the
Company in satisfaction of its obligations in respect of the initial
consideration due under the AAH Agreement (the _'_Consideration Shares_'_).
The Consideration Shares will, on issue, amount to 11.81% of the enlarged
issued share capital of the Company immediately after they are issued on or
around 19 June 2017. The Consideration Shares and the Subscription Shares
will rank pari passu with the existing ordinary shares.
Following the issue of the Consideration Shares, in accordance with the
Financial Conduct Authority's Disclosure and Transparency Rules, the Company
will have 1,876,112,472 ordinary shares of no par value in issue each with
voting rights. The Company does not hold any shares in treasury. The above
figure of 1,876,112,472 may be used by shareholders 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.
The Directors of the Company accept responsibility for the content of this
announcement.
**ENDS**
For further information visit www.africanpotash.com [1]or contact the
following: For further information, please contact:
+----------------------+--------------------+
|African Potash Limited| |
+----------------------+--------------------+
|Chris Cleverly |+44 (0) 20 7408 9200|
+----------------------+--------------------+
Language: English
ISIN: GG00B4QYTJ50
Category Code: RAG
TIDM: AFPO
Sequence No.: 4314
End of Announcement EQS News Service
583627 16-Jun-2017
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=b6e0d254ff0e8c2af6b522ad2d38bd35&application_id=583627&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
June 16, 2017 09:01 ET (13:01 GMT)
