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African Potash Ltd. (AFPO)
African Potash Ltd.: Completion of Placing
25-Oct-2017 / 15:44 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.
25 October 2017
AFRICAN POTASH LIMITED
("African Potash" or the "Company")
Completion of Placing
African Potash, is pleased to announce that it has completed a private
placing to raise GBP60,000 before expenses (the 'Subscription'), pursuant to
which, the Company will issue 100,000,000 new ordinary shares of no par
value (the 'Subscription Shares') at a price of 0.06 pence per new ordinary
share. The proceeds from the Subscription will be used for working capital
purposes and to further support and develop the Company's fertilizer trading
business.
The Subscription Shares will, on issue, amount to 4.79% of the enlarged
issued share capital of the Company.
The 100,000,000 new ordinary shares will be admitted to trading on NEX
Growth Market today, 25 October 2017. The Subscription Shares will rank pari
passu with the existing ordinary shares.
In addition, the Company has granted warrants to Alexander David Securities
Limited over 56,283,374 shares of the enlarged share capital at a price of
0.06 pence per share, valid for three years from the date of ADSL's
appointment.
Following the issue of the Subscription Shares, in accordance with the
Financial Conduct Authority's Disclosure and Transparency Rules, the Company
will have 2,087,223,583 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 2,087,223,583 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
NEX Exchange Corporate Adviser:
Alexander David Securities Limited
David Scott - Corporate Finance +44 (0) 20 7448 9820
James Dewhurst - Corporate Broking +44 (0) 20 7448 9820
ISIN: GG00B4QYTJ50
Category Code: IOE
TIDM: AFPO
Sequence No.: 4782
End of Announcement EQS News Service
622571 25-Oct-2017
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=7cfd933424f56031988753a0aea19d9b&application_id=622571&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
October 25, 2017 10:46 ET (14:46 GMT)
