has allotted a total of 4,133,333 ordinary shares at 0.5p each in part settlement of fees due to current Directors in respect of the quarter ended 30th of June 2020.
The mineral firm said an application will be made for the Ordinary Shares to be admitted to trading on the AQSE Growth Market which is expected to become effective on 16th July 2020.
Following this issue, Directors Richard Battersby and James Butterfield will hold 47.1m and 46.5m ordinary shares, respectively, equating to 15.58% and 15.40% of shares, respectively.
Director Alex Borrelli will hold 27.6m ordinary shares, making up 9.13% while Director James Hogg will hold 133,333 shares representing 0.04%.
Shares in BWA Group opened flat at 0.7p on Tuesday morning.
BWA Group now has 302,418,398 Ordinary Shares in issue, each share carrying the right to one vote.
It also has £301,000 of 14% Convertible Unsecured Loan Notes 2021 in issue, convertible into a maximum of 80,803,924 Ordinary Shares if the CLNS have not been redeemed by 31 December 2021.
Follow News & Updates from BWA Group here:
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
Majid Shafiq, CEO of i3 Energy (AIM:I3E), and CFO, Graham Heath, discuss today’s follow-on deal to sell the Gain assets to Harvard Resources which will occur following the completion of the group’s previously announced C$80 million reverse takeover .
i3 Energy plc, an independent oil and gas company with assets and operations in the UK, Final Results for the year ended 31 December 2019 show significant operational progress for the pre-revenue company with net loss of £10.8m. To fund the Gain acquisition announced post period end in 2020, i3 is proposing to raise £30 million at a price of 5 pence per share, an 18% discount to the closing mid-price at which i3's shares suspended on 23 June 2020.
Oilex, the Operator of the PSC and on behalf of the JDPA joint venture, has reached amicable settlement with JPDA in East Timor with a settlement of US$0.8m payable in 2021 and 2022 financial years. The settlement amount is fully provided for in the FY19 accounts.
Avacta Group has entered into a collaboration with the Liverpool School of Tropical Medicine to clinically validate the rapid, saliva-based coronavirus antigen test that Avacta is developing in conjunction with Cytiva.
Shield Therapeutics said a reanalysis of the AEGIS-H2H study for its iron deficiency lead product Feraccru®/Accrufer® has confirmed the product as a credible alternative to IV therapy for patients with iron deficiency anaemia.