TIDMBEM

RNS Number : 6855F

Beowulf Mining PLC

22 February 2018

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Kurt Budge, Chief Executive Officer.

22 February 2018

Beowulf Mining plc

("Beowulf" or the "Company")

Issue of Shares/PDMR Dealing

Beowulf (AIM: BEM; AktieTorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, announces that it has issued 2.1 million ordinary shares of 1 pence each to Rasmus Blomqvist, the Company's Exploration Manager, as the first tranche of deferred consideration pursuant to the acquisition of Oy Fennoscandian Resources AB ("Fennoscandian") as announced via RNS on 11 January 2016 (the "Further Consideration Shares"). The second, and final, tranche of 2.1 million deferred consideration shares will be issued subject to completion of a bankable feasibility study on one of the graphite projects in the Fennoscandian portfolio.

Application has been made for the Further Consideration Shares to be admitted to trading on AIM and it is expected that admission will take place on 28 February 2018 ("Admission"). The Further Consideration Shares will rank pari passu with the existing ordinary shares of the Company. Following Admission of the Further Consideration Shares, the Company's enlarged issued share capital will comprise 536,307,254 ordinary shares with voting rights. This figure 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 in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides additional detail.

Enquiries:

 
 Beowulf Mining plc 
 Kurt Budge, Chief Executive     Tel: +44 (0) 20 3771 6993 
  Officer 
 Cantor Fitzgerald Europe 
  (Nominated Adviser & Broker) 
 David Porter                    Tel: +44 (0) 20 7894 7000 
 Blytheweigh 
 Tim Blythe / Megan Ray          Tel: +44 (0) 20 7138 3204 
 
 
 1    Details of the person discharging 
       managerial responsibilities 
       / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                      Rasmus Blomqvist 
---  ------------------------  ----------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status           PDMR 
---  ------------------------  ----------------------------- 
 b)   Initial notification      Initial Notification 
       /Amendment 
---  ------------------------  ----------------------------- 
 3    Details of the issuer, emission 
       allowance market participant, 
       auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                      Beowulf Mining plc 
---  ------------------------  ----------------------------- 
 b)   LEI                       213800MV3XGAOASPT433 
---  ------------------------  ----------------------------- 
 4    Details of the transaction(s): 
       section to be repeated for (i) 
       each type of instrument; (ii) 
       each type of transaction; (iii) 
       each date; and (iv) each place 
       where transactions have been 
       conducted 
---  ------------------------------------------------------- 
 a)   Description of            Issue of Shares 
       the financial             Ordinary Shares of 1p each 
       instrument, type 
       of instrument             GB0033163287 
 
       Identification 
       code 
---  ------------------------  ----------------------------- 
 b)   Nature of the             Issue of 2.1m share 
       transaction 
---  ------------------------  ----------------------------- 
 c)   Price(s) and               Price(s)   Volume(s) 
       volume(s)                 ---------  ---------- 
                                  0          2,100,000 
                                 ---------  ---------- 
---  ------------------------  ----------------------------- 
 d)   Aggregated information     Not applicable 
       - Aggregated 
       volume 
       - Price 
---  ------------------------  ----------------------------- 
 e)   Date of the transaction   28/02/2018 
---  ------------------------  ----------------------------- 
 f)   Place of the              London Stock Exchange (XLON) 
       transaction

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 22, 2018 08:55 ET (13:55 GMT)

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