W Resources PLC Issue of Shares (9453R)
September 27 2017 - 3:57AM
UK Regulatory
TIDMWRES
RNS Number : 9453R
W Resources PLC
27 September 2017
27 September 2017
W Resources Plc
("W" or the "Company")
Issue of Shares
W Resources Plc (AIM:WRES), the tungsten, copper and gold,
production, exploration and development company with assets in
Spain and Portugal, has issued 40,540,540 ordinary shares of 0.1p
per share ("Ordinary Shares") at 0.37p per Ordinary Share to ICD
Alloys and Metals LLP ("ICD").
The share issue to ICD forms part of their support in the plant
start-up, in setting up off-take contracts and repays the balance
of the advance received in 2016.
Application has been made for the new Ordinary Shares being
issued in connection with the Placing to be admitted to trading on
AIM which is expected to occur on or around 3 October 2017.
Following admission of the new Ordinary Shares, the Company's
enlarged issued share capital will comprise 4,883,179,368 Ordinary
Shares with voting rights. The Company has no shares held in
Treasury. This figure of 4,883,179,368 Ordinary Shares 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 FCA's Disclosure Guidance
and Transparency Rules.
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Harrison
T: +44 (0) 20 7193 7463 Clarke
www.wresources.co.uk T: +44 (0) 20 7383 5100
Turner Pope Investments (TPI) Gable Communications
Ltd - Joint Broker Justine James
Ben Turner / James Pope T: +44 (0) 20 7193 7463
T: +44 (0) 203 621 4120 M: +44 (0) 7525 324431
www.turnerpope.com
About W
In 2012, W Resources Plc (AIM:WRES) made the successful
transition into a tungsten production exploration and development
company with projects in Spain and Portugal, following two
acquisitions. Projects now include La Parrilla, a tungsten project
in Spain and Régua and Tarouca Tungsten projects and the Portalegre
copper-gold project in Portugal.
The Company's deposits and tungsten mine developments offer a
low cost, high margin resource development opportunity. Tungsten
and Tin prices have increased significantly over the last 12 months
and Tungsten is in the EUs top 5 critical metals list.
The Board is focused to explore further opportunities in the
region with a view to building a mid-tier minor metal producer.
The Company was incorporated in England and Wales in 2004.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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