viewKodal Minerals PLC

Kodal Minerals PLC - Loan conversion and change to total voting rights

RNS Number : 5097K
Kodal Minerals PLC
04 January 2021

4 January 2021


Kodal Minerals plc ("Kodal Minerals" or the "Company")


Loan conversion and change to total voting rights


Kodal Minerals, the mineral exploration and development company, announces that it has received conversion notices in relation to its US$1.5 million unsecured convertible loan agreement (the 'Loan Agreement') with Riverfort Global Opportunities PCC Limited and YA II PN Ltd (the 'Investors'), details of which were announced on 15 July 2020.


The Investors have elected to convert a total amount of $300,242.88 (equivalent to £220,048.01), made up of a principal amount of $300,000.00 and accrued interest of $242.88, into 347,078,879 new ordinary shares of 0.03125p each in the Company ("Ordinary Shares"), at a price of 0.06340 pence per Ordinary Share.


These conversions represent final repayment of the $750,000 first tranche of the Loan Agreement. The second drawdown of a further $750,000 under the Loan Agreement as announced on 27 October 2020 remains outstanding.


Application will be made for the 347,078,879 new Ordinary Shares being issued to be admitted to trading on AIM and it is expected that admission will take place on or around 8 January 2021 ("Admission").


AIM Rule 17


Pursuant to AIM Rule 17, the Company announces that the shareholding of Suay Chin International Pte remains as 2,290,471,568 Ordinary Shares but from Admission will represent 18.79% of the then issued share capital.


Total Voting Rights


Upon Admission, the issued share capital of the Company will consist of 12,191,161,715 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company from Admission will be 12,191,161,715.  This figure may be used by shareholders as the denominator for the calculations by which they 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, please visit www.kodalminerals.com or contact the following:


 Kodal Minerals plc

  Bernard Aylward, CEO


Tel: +61 418 943 345


  Allenby Capital Limited, Nominated Adviser

  Jeremy Porter/Nick Harriss/Liz Kirchner



Tel: 020 3328 5656

  SP Angel Corporate Finance LLP, Financial Adviser & Broker

  John Mackay/Adam Cowl



Tel: 020 3470 0470

  St Brides Partners Ltd, Financial PR

  Susie Geliher/Cosima Akerman



Tel: 020 7236 1177


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

Quick facts: Kodal Minerals PLC

Price: -

Market: LSE
Market Cap: -

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Political unrest in Mali is 'no reason to panic' for miners in the region...

Mining Capital's Alistair Ford talks to Proactive London about the current political turmoil in Mali and the potential implications the ousting of the country’s President could have on miners in the region. Ford says so far it's business as usual in the gold mining sector - which is welcoming...

on 20/8/20

3 min read