Kodal Minerals, the mineral exploration and development company, announces the issue of 19,583,212 new ordinary shares of 0.03125 pence each (“New Ordinary Shares”) at a price of 0.3319p per share (being the volume-weighted average price of the ten days prior to 3 November 2021).
The New Ordinary Shares are being issued pursuant to the Company’s agreement with Bambara Resources SARL which gives the Company exclusive rights to explore and acquire an 80 per cent. interest in two concessions in Southern Mali, Mafele Ouest and Nkemene Ouest (the “Bambara Concessions”), details of which were announced on 30 January 2019. The issue of the New Ordinary Shares is the final instalment for Kodal to be the beneficial owner of 80 per cent. of the economic interests in the Bambara Concessions as well as to retain its rights to explore and mine them.
Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective on or around 9 November 2021.
Total Voting Rights
Upon Admission, the issued share capital of the Company will consist of 15,832,302,387 Ordinary Shares. The Company holds no shares in Treasury. Therefore, the updated total number of voting rights in the Company from Admission will be 15,832,302,387. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to, their interest in the Company under the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority.
For further information, please visit www.kodalminerals.com or contact the following:
Kodal Minerals plc
Bernard Aylward, CEO
Tel: +61 418 943 345
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