RNS Number : 6905L
Equatorial Mining & Exploration PLC
20 April 2018
 

20th April 2018

 

Equatorial Mining & Exploration Plc ("EME" or the "Company")

 

Issue of New Ordinary Shares and Trading Update

 

 

The Company announces that it has issued a total of 690,000,000 new ordinary shares of 0.01p as set out below:

 

Exercise of 640,000,000 0.01p warrants

Described below is a summary of warrant exercises leading to the issue of 640,000,000 new ordinary shares.

 

The Company has exercised warrants as follows:

 

·     A warrant holder which remitted £5,000 and an exercise notice last year was delayed in posting the warrant certificate. This has new been found and received by the Registrars. The Company issued 50,000,000 shares.

·     An existing shareholder and long standing warrant holder exercised 100,000,000 of his holding.  There was a delay to the issuing of the shares due to a missing warrants certificate. The Company issued 100,000,000 shares.

·     On 13th March the Company announced the issue of a Convertible Loan Note Instrument which included newly issued 0.01p warrants.  These were issued and concurrently exercised against overdue unpaid fees and expenses. The Company issued 200,000,000 shares.

·     Existing 0.01p warrant holders exercised in March with the consideration being the cancellation of overdue and unpaid fees and expenses. The Company issued 290,000,000 shares.

 

All outstanding 0.1p warrants expired at the end of March and the Company declares that there are no 0.1p warrants remaining in issue.

 

Issue of 50,000,000 ordinary shares

 

The Company owed £5,000 to a long standing creditor who was willing to receive shares in lieu of the Company's indebtedness to him.  Accordingly, 50,000,000 new ordinary shares have been issued.

 

The new shares will rank pari passu with the Company's existing ordinary shares.

 

The 690,000,000 new ordinary shares will be admitted to trading on NEX Exchange Growth Market on 23 April 2018.

 

As a result, the changes to the Company's shares, warrants and convertible loan notes in issue are tabulated below:

 

Ord Shares of 0.01p

Warrants to subscribe for ordinary shares at 0.01p

Warrants to subscribe for ord. shares at 0.05p

0.41p Convertible loan notes

Previously in issue

6,932,191,670

966,750,000

220,000,000

£40,000

Currently in issue

7,622,191,670

zero

220,000,000

£40,000

 

Changes to the Directors' stock interests are set out below:

 

Ord shares of 0.01p

% of enlarged share capital

Warrants to subscribe for ordinary shares at 0.01p by March 2018

Employee Benefits Trust under option at 0.01p per share

0.41p Conv. Loan Notes

Nicholas Nelson

543,500,000

7.1

zero

891,990,000

£10,000

Simon Retter

80,750,000

1.1

zero

200,000,000

£5,000

 

Shareholders with 3% or more of the issued share capital

 

Registered Shareholder

Shareholding

% of enlarged share capital

JIM Nominees Limited

2018,961,665

26.5

First Names Trust Company Limited

1,332,400,000

17.5

Spreadex Limited

823,100,000

10.8

GTI International Limited

800,000,000

10.5

Pershing Nominees Limited

448,533,335

5.9

WB Nominees Limited

293,500,000

3.9

Christopher Potts

250,000,000

3.3

 

 

Enquiries:

 

Equatorial Mining & Exploration Plc:
Nicholas Nelson, Executive Chairman

 

nelson@nexfin.org.uk

NEX Exchange Adviser and Broker

Alexander David Securities

James Dewhurst

 

+44 (0) 207 448 9820

 

 

 

The Directors take responsibility for this announcement.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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