20 March 2020
BWA GROUP PLC
(“BWA” or the “Company”)
Issue of Equity and Director/PDMR Shareholdings
BWA Group plc, the AQSE Growth Market traded investment company with interests primarily in the mining sector, announces that it has allotted 20,000,000 ordinary shares of 0.5 pence each in the Company (“Ordinary Shares”), at a price of 0.5 pence per share, pursuant to a cash subscription of £100,000 by Tri Castle Investments Limited (“Tri Castle”). The proceeds of the subscription will be used by the Company for general working capital purposes.
Following the subscription, Tri Castle is interested in 20,000,000 Ordinary Shares, representing 6.8% of the Company’s enlarged issued share capital. Jonathan Wearing, a significant shareholder in Tri Castle, is interested in a further 290,000 Ordinary Shares in the Company, representing 0.1% of the Company’s enlarged issued share capital.
Application will be made for the Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on 25 March 2020.
The Company now has 294,285,065 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury. The figure of 294,285,065 Ordinary 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.
Following this issue, the Directors’ interests in the enlarged issued share capital of the Company are as follows:
|Director||Ordinary Shares Held||%|
The Company also has £301,000 of 14% Convertible Unsecured Loan Notes 2020 in issue (“CLNS”), convertible into a maximum of 80,803,924 Ordinary Shares, if the CLNS have not been redeemed by 31 December 2021. In addition, the Directors have options over a total of 17,613,786 Ordinary Shares.
The Directors of BWA are responsible for the contents of this announcement.
For further information please contact:
|BWA Group plc |
Richard Battersby (Non-Executive Chairman)
|07836 238 172|
|Peterhouse Capital Limited |
|020 7469 0930|
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.