BWA Group Plc - Subscription for New Shares by Chairman
28 November 2024
BWA Group PLC
(“BWA”, or the “Company”)
Subscription for New Shares by Chairman
BWA (AQSE:BWAP) the mining investment company with licences in Cameroon and Canada, is pleased to announce the subscription for 40,000,000 ordinary shares of 0.5p each (“Ordinary Shares”), raising £200,000, the Company’s Chairman, Jonathan Wearing (the “Subscription”). The Subscription forms the second part of the fundraising outlined in the announcements of 5 June 2024 and 11 September 2024, and brings the amount raised to date to £450,000.
The monies received from the Subscription will be used to extend the Company’s exploration programme in Cameroon and for general working capital purposes.
The new Ordinary Shares issued under the Subscription will be allotted under the Company’s existing unspent share issue authorities and are expected to be admitted to trading on the AQSE Growth Market on 2 December 2024 (“Admission”). On Admission, Mr Wearing will hold 238,713,415 Ordinary Shares, equivalent to 25.60% of the Ordinary Shares on Admission. Mr Wearing’s holding includes Ordinary Shares held by Tricastle Investments Limited, a company he controls.
The issue of the New Shares constitutes a related party transaction under the AQSE Growth Market Access Rules. The Board has concluded, having exercised reasonable care, skill and diligence, that the related party transaction is fair and reasonable as far as the shareholders of the Company are concerned.
On Admission, the Company will have 932,603,530 Ordinary Shares in issue, each with one voting right. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company is 932,603,530. This figure should be used by shareholders from Admission 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 Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information on the Company, please visit www.bwagroupplc.com/index.html or:
BWA Group PLC
James Butterfield
Managing Director
+44 (0) 7770 225 253
Allenby Capital Limited
Corporate Adviser
+44 (0)20 3328 5656
Nick Harriss/Lauren Wright
Oberon Capital
Broker
+44 (0)20 3179 5300
Nick Lovering/Adam Pollock
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
Market Abuse Regulation (MAR) Disclosure
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
Name
Jonathan Wearing
Reason for notification
Director of BWA Group Plc
Initial
Details of the issuer, emission allowance market participant, auction platform, auctioneer, or auction monitor
BWA Group Plc
LEI
213800XG3K7PTAAG8630
Description of the financial instrument, type of instrument
Ordinary shares of 0.5p each
Identification code
ISIN: GB0033877555
Nature of the transaction
Subscription for Ordinary Shares
Price(s) and volume(s)
40,000,000 0.5p per Ordinary Share
Aggregated information Aggregated volumePrice
N/A
Date of the transaction
28 November 2024
Place of the transaction
N/A
