BAO Baobab Res.

TIDMBAO

RNS Number : 4440L

Baobab Resources PLC

27 April 2015

27 April 2015

Baobab Resources Plc

("Baobab" or the "Company")

Issue of Equity and Change in Significant Shareholding

Baobab Resources Plc (AIM:BAO) was notified on 24 April 2015 that on 23 April 2015 the International Finance Corporation ("IFC") exercised 7,333,333 options over ordinary shares in the Company at an exercise price of 5.32 pence per ordinary share. The options were granted pursuant to the option agreement dated 27 November 2008.

Application has been made to the London Stock Exchange for the 7,333,333 new ordinary shares of 1 pence each to be admitted to trading on AIM and it is expected that admission will become effective and trading will commence on 1 May 2015. These shares will rank pari passu in all respects with the existing issued ordinary shares in the Company. The total issued share capital of Baobab following this allotment will be 349,671,759 ordinary shares and the IFC will hold 18,333,333 ordinary shares representing 5.24% of the issued share capital of the Company.

Accordingly, the figure of 349,671,759 ordinary shares may be used by shareholders 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 share capital of the Company.

Enquiries:

 
 Baobab Resources Plc 
  Ben James (Managing Director)      Tel: +258 21 486 404 
  Jeremy Dowler (Chairman)           Tel: +44 1372 450529 
  Frank Eagar (Finance Director)     Tel: +27 76 753 5377 
 Canaccord Genuity Limited         Tel: +44 20 7523 8000 
  (NOMAD and broker) 
  Henry Fitzgerald-O'Connor 
  Chris Fincken 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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