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BWA Group Plc - Conversion of Loan Notes


Announcement provided by

BWA Group plc · BWAP

12/06/2024 07:00

BWA Group Plc - Conversion of Loan Notes PR Newswire

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

12 June 2024

BWA Group PLC

 (“BWA” or the “Company”)

    

Conversion of Loan Notes and Director / PDMR Shareholdings

 

BWA (AQSE: BWAP), which has mineral exploration licences in both Cameroon and Canada at various stages of development and is quoted on London’s AQSE Growth Market, announces that it has allotted a total of 42,430,383 ordinary shares of 0.5 pence each in the Company ("Ordinary Shares"), at a price of 0.6 pence per share, following the conversion of the 14% Convertible Unsecured Loan Notes (“Loan Notes”) originally issued in May 2022 (the “Conversion Shares”).  The Conversion Shares have been allotted in conversion of £200,000 of Loan Notes plus accrued interest since issue.

 

In addition, a further 1,000,000 Ordinary Shares have been issued in settlement of £10,000 of liabilities resulting from the short-term unsecured loans described in the announcement of 28 March 2023 (the “Capitalisation Shares”).

 

Application will be made for the Conversion Shares and the Capitalisation Shares (together, the “New Shares”) to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on 17 June 2024 (“Admission”). 

 

On Admission, the interests of the directors and significant shareholders in the enlarged issued share capital of the Company are as follows:

 

Name

Current Shareholding

% of Current Share Capital

New Shares

Enlarged Shareholding

% of Enlarged Share Capital

 

 

 

 

 

 

Directors

207,899,768

26.01%

 

215,848,473

25.62%

 

 

 

 

 

 

James Butterfield

60,969,768

7.63%

525,290

61,495,058

7.30%

 

 

 

 

 

 

Jonathan Wearing1

141,290,000

17.68%

7,423,415

148,713,415

17.65%

 

 

 

 

 

 

John Byfield

5,640,000

0.71%

 

5,640,000

0.67%

 

 

 

 

 

 

Significant Shareholders

 

 

 

 

 

 

 

 

 

 

 

St. Georges Eco-Mining Corp

149,224,800

18.67%

 

149,224,800

17.71%

 

 

 

 

 

 

Richard Battersby2

99,337,890

12.43%

1,058,250

100,396,140

11.91%

 

 

 

 

 

 

Mr D M Cass

79,782,022

9.98%

31,833,817

111,615,839

13.25%

 

 

 

 

 

 

G & O Energy Investments Limited

57,000,000

7.13%

 

57,000,000

6.76%

 

 

 

 

 

 

Alex Borrelli

35,438,469

4.43%

530,083

35,438,469

4.21%

 

 

 

 

 

 

Gudmundur Svavarsson

32,049,000

4.01%

 

32,049,000

3.80%

 

 

  1. Mr Wearing’s holding includes Tricastle Investments Limited, a company he controls.
  2. Mr Battersby’s holding include shares held by The Bank of New York (Nominees) Limited and CGWM Nominees Limited as nominees for Bath Group Limited and Second Neric Limited, both of which companies he controls.

 

Total Voting Rights

 

Following Admission, the Company will have 842,603,530 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury. Following Admission, the figure of 842,603,530 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

The Directors of BWA are responsible for the contents of this announcement.  

 

 -Ends -

For further information: 

BWA Group PLC
James Butterfield
Managing Director

+44 7770 225253
enquiries@bwagroupplc.com


Allenby Capital Limited
Corporate Adviser 
Nick Harriss/Lauren Wright


+44 20 3328 5656

 

Market Abuse Regulation (MAR) Disclosure

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

Details of the persons discharging managerial responsibilities / persons closely associated

Name

James Butterfield

Reason for notification

Director of BWA Group Plc

 

Initial 

Details of the issuer, emission allowance market participant, auction
 platform, auctioneer, or auction monitor

BWA Group Plc

LEI

213800XG3K7PTAAG8630

Description of the financial instrument, type of instrument

Ordinary shares of 0.5p each

Identification code

ISIN: GB0033877555

Nature of the transaction

Conversion of Loan Stock 

Price(s) and 
    volume(s)

525,290
 Ordinary Shares at 0.6p per share

Aggregated information 
Aggregated volume
Price

N/A

Date of the transaction

11 June 2024

Place of the transaction

N/A

 

Name

Jonathan Wearing

Reason for notification

Director of BWA Group Plc

 

Initial 

Details of the issuer, emission allowance market participant, auction
 platform, auctioneer, or auction monitor

BWA Group Plc

LEI

213800XG3K7PTAAG8630

Description of the financial instrument, type of instrument

Ordinary shares of 0.5p each

Identification code

ISIN: GB0033877555

Nature of the transaction

Conversion of Loan Stock 

Price(s) and 
    volume(s)

7,423,415
 Ordinary Shares at 0.6p per share

Aggregated information 
Aggregated volume
Price

N/A

Date of the transaction

11 June 2024

Place of the transaction

N/A

 

 




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