Cradle Arc PLC Conversion of Loan Notes & Total Voting Rights (8230I)
28 Novembre 2018 - 6:16PM
UK Regulatory
TIDMCRA
RNS Number : 8230I
Cradle Arc PLC
28 November 2018
Cradle Arc Plc / EPIC: CRA.L / Market: AIM / Sector: Mining
28 November 2018
Cradle Arc plc
("Cradle Arc" or the "Company")
Conversion of Loan Notes & Total Voting Rights
Cradle Arc (AIM:CRA), the African focused base and precious
metals exploration and production company, announces that a holder
(the "Noteholder") of certain of the outstanding convertible loan
notes issued by the Company on 16 January 2017 (the "Notes") has
elected to convert certain of its holding of Notes into new
ordinary shares of GBP0.0001 each in the capital of the Company
("Ordinary Shares") under the terms of such Notes.
Accordingly, 10,666,666 new Ordinary Shares (the "Conversion
Shares") have been issued to the Noteholder at a price of
GBP0.0046875 per share, in accordance with the terms of the Notes
and date of the conversion notice received by the Company.
Application for Trading on AIM and Total Voting Rights
Application will be made to the London Stock Exchange plc for
admission of the Conversion Shares to trading on AIM, with such
admission expected to become effective and dealings commence at
8.00 a.m. on or around 5 December 2018. Following admission, the
share capital of the Company will comprise 352,905,511 Ordinary
Shares and, accordingly, the total number of voting rights will be
352,905,511.
The Company does not currently hold any Ordinary Shares in
treasury. Accordingly, the above figure of 352,905,511 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, Cradle
Arc under the FCA's Disclosure Guidance and Transparency Rules.
**ENDS**
For further information on the Company, please visit
www.cradlearc.com or contact:
Cradle Arc plc Tel: +44 (0)20 7637 5216
Kevin van Wouw
Mark Jones
Strand Hanson Limited Tel: +44 (0)20 7409 3494
James Spinney
Matthew Chandler
James Dance
SP Angel Corporate Finance Tel: +44 (0)20 3470 0470
LLP
Ewan Leggat
John Meyer
Tavistock Communications Limited Tel: +44 (0)20 7920 3150
Charles Vivian
Gareth Tredway
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
About Cradle Arc
AIM-quoted Cradle Arc plc is the 60 per cent. owner of the
Mowana copper mine in Botswana, an operational open pit mine and
processing facility located in the north-east of the country,
approximately 120 km northwest of Francistown.
The Company has an independent open pit ore reserve estimate
(Proved and Probable JORC 2012) of 31.8 Mt at 1.17% Cu for 370,800
tonnes contained copper, based on a Dense Media Separation (DMS)
mine plan.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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