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W Resources PLC - Issue of Shares to Creditors

RNS Number : 6645B
W Resources PLC
09 October 2020
 

 

 

 

 

 

 

 

9 October 2020

 

W Resources Plc

("W" or the "Company")

 

Issue of Shares to Creditors

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, announces that it has issued 397,689,658 ordinary shares of 0.1p per share ("Ordinary Shares") at a deemed price of 0.123p per Ordinary Share to three creditors to settle amounts totalling £489,158. This relates to technical and professional services related fees.

Application will be made for the new Ordinary Shares (representing 5.5% of the Company's enlarged issued share capital) to be admitted to trading on AIM with admission expected to occur on or around 16 October 2020.

Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 7,172,920,404 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 7,172,920,404 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.

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

Enquiries:

W Resources Plc

Michael Masterman

c/o Alma PR

www.wresources.com

Grant Thornton UK LLP

Colin Aaronson / Jen Clarke / Seamus Fricker

T: +44 (0) 20 7383 5100

Joint Broker

Turner Pope Investments (TPI) Ltd

Andy Thacker / Zoe Alexander

T: +44 (0) 203 657 0050

www.turnerpope.com

Joint Broker

Alternative Resource Capital / Shard Capital

Alex Wood

T:+44 (0) 20 7186 9004

www.altrescap.com

Damon Heath

T:+44 (0) 20 7186 9952

www.shardcapital.com

Alma PR

Justine James

T: +44 (0) 20 3405 0205

M: +44 (0) 7525 324431

[email protected]

 

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Market: AIM
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