THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.
For Immediate Release
26 May 2021
African Pioneer Plc
("African Pioneer", "APP" or "the Company")
Publication of Prospectus
The Directors of African Pioneer, a company engaged in development of the natural resources exploration projects in Sub-Saharan Africa, are pleased to announce that the Company's prospectus dated 26 May 2021 has been approved by the Financial Conduct Authority ("FCA") and published today (the "Prospectus").
The Prospectus relates to the placing of 50,000,000 placing shares at a placing price of 3.5 pence per share ("Placing") and admission of the enlarged issued share capital to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the main market for listed securities of the London Stock Exchange ("Admission").
It is expected that Admission will become effective and commencement of dealings in the Company's ordinary shares under TIDM: AFP will commence at 8.00 a.m. (UK time) on 1 June 2021.
Further information about the Company is set out in the Prospectus, which will be shortly available on the Company's website at www.africanpioneerplc.com and on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
For further information please contact:
| African Pioneer Plc |
+27 726 118 724 |
| Beaumont Cornish (Financial Adviser) |
+44 (0) 20 7628 3396 |
| Novum Securities Limited (Broker) Jon Belliss
|
+44 (0) 20 7399 9400 |
Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated by the FCA, is acting solely for the Company and no-one else in connection with the Admission and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Admission or any other matter referred to herein. Beaumont Cornish has not authorised the contents of, or any part of, this announcement and no liability whatsoever is accepted by Beaumont Cornish nor does it make any representation or warranty, express or implied, for the accuracy or completeness of any information or opinion contained in this announcement or for the omission of any information.
Novum Securities Limited ("Novum"), which is authorised and regulated by the FCA, is acting solely for the Company and no-one else in connection with the Placing and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Placing or any other matter referred to herein. Novum has not authorised the contents of, or any part of, this announcement and no liability whatsoever is accepted by Novum nor does it make any representation or warranty, express or implied, for the accuracy or completeness of any information or opinion contained in this announcement or for the omission of any information.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
EXPECTED TIMETABLE
| Publication of Prospectus |
26 May 2021 |
| Latest time and date for placing commitments under the Placing |
4.30 p.m. on 21 May 2021 |
| Admission and commencement of dealings in Ordinary Shares |
08.00 a.m. on 1 June 2021 |
| CREST members' accounts credited in respect of New Ordinary Shares |
1 June 2021 |
| Share certificates despatched in respect of New Ordinary Shares |
15 June 2021 |
All references to time are to London time, unless otherwise stated. Any changes to the expected timetable will be notified by the Company through an RIS.
ADMISSION STATISTICS
| Number of Existing Ordinary Shares in issue as at the date of the Document |
11,729,826 |
| Total number of Consideration Shares to be issued on Admission |
84,642,857 |
| Total number of Loan Conversion Shares to be issued on Admission |
39,847,503 |
| Total number of Placing Shares to be issued on Admission |
50,000,000 |
| Total number of Fee Shares to be issued on Admission |
3,239,364 |
| Enlarged Issued Share Capital on Admission(1) |
189,459,550 |
| Placing Price per New Ordinary Share |
3.5 pence |
| Total number of warrants in issue on Admission |
37,722,375 |
| Estimated Net Placing Proceeds receivable by the Company |
£1,448,923 |
| Market capitalisation at the Placing Price |
£6,631,084 |
| New Ordinary Shares as a percentage of Enlarged Issued Share Capital
|
93.81% |
|
(1) The market capitalisation of the Company at any given time will depend on the market price of the Ordinary Shares at that time.
There can be no assurance that the market price of an Ordinary Share will equal or exceed the Placing Price. |
|
DEALING CODES
The dealing codes for the Ordinary Shares will be as follows:
| ISIN |
IM00B8C0HK22 |
| SEDOL code |
B8C0HK2 |
| TIDM |
AFP |
| LEI |
213800QQF8O18CMJPW43
|
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