Xtract Resources plc Issue of Equity (6881X)
December 20 2019 - 8:00AM
UK Regulatory
TIDMXTR
RNS Number : 6881X
Xtract Resources plc
20 December 2019
For immediate release
20 December 2019
Xtract Resources Plc
("Xtract" or the "Company")
Issue of equity
The Board of Xtract announces that it has today issued
18,795,236 new Ordinary Shares of 0.02p each in the capital of the
Company ("New Shares") at an issue price of 0.8395p per Ordinary
Share to KPZ International ("KPZ"). As previously announced on 21
October 2019, the Company had informed KPZ that it intended to
exercise its option to act as contractor for the Kalengwa
Processing project on the copper large scale mining license number
24401-HQ-LEL located in the central part of the Republic of Zambia.
Under the Kalengwa Processing agreement, the Company had agreed to
pay US$200,000 to KPZ on exercising its option to act as operator,
to be settled through the issuance of new Xtract ordinary
shares.
Application will be made for admission of the New Shares to
trading on AIM on or around 2 January 2020. The New Shares will
rank pari passu in all respects with the Company's existing issued
ordinary shares.
Total Voting Rights
On Admission of the New Shares, the Company will have
457,303,288 Ordinary Shares in issue with voting rights. Xtract
does not currently hold any shares in treasury. Accordingly, this
figure of 457,303,288 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:
Xtract Resources Plc Colin Bird, +44 (0)20 3416 6471
Executive Chairman www.xtractresources.com
Beaumont Cornish Limited Roland Cornish +44 (0)207628 3396
Nominated Adviser and Michael Cornish www.beaumontcornish.co.uk
Joint Broker Felicity Geidt
Novum Securities Limited Colin Rowbury +44 (0)207 399 9427
Joint Broker www.novumsecurities.com
ENDS
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END
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