Last checked at 3 Jun 2019 15:00
Armadale Capital Plc (‘Armadale’ or ‘the Company’)
Director Share Purchase
Armadale Capital plc (LON: ACP) the AIM quoted investment company focused on natural resource projects in Africa, announces that today it was notified that on 31 May 2019, Value Generation Limited, a company wholly owned by Paul Johnson, Non-Executive Director of the Company, and wife Michelle Johnson, purchased 350,000 ordinary shares in the share capital of the Company (“Ordinary Shares”) at a price of 1.2275 pence per Ordinary Share and have completed the share transaction set out in the table below.
Following this purchase, Value Generation Limited’s total beneficial ownership in the Company is 2,622,727 Ordinary Shares, which represents 0.699% of the Company’s issued share capital.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
**ENDS**
For further information, please visit the Company’s website www.armadalecapitalplc.com, follow Armadale on Twitter @ArmadaleCapital or contact:
| Enquiries: | |||
| Armadale Capital Plc Paul Johnson, Non-Executive Director (UK) Tim Jones, Company Secretary | +44 (0) 20 7236 1177 | ||
| Nomad and broker: finnCap Ltd Christopher Raggett / Max Bullen-Smith | +44 (0) 20 7220 0500 | ||
| Joint Broker: SI Capital Nick Emmerson | ++44 (0) 1483 413500 | ||
| Press Relations: St Brides Partners Ltd Isabel de Salis / Juliet Earl | +44 (0) 20 7236 1177 |
Notes
Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.
The Company owns the Mahenge Liandu graphite project in south-east Tanzania, which is now its main focus. The Project is located in a highly prospective region with a high-grade JORC compliant Indicated and inferred mineral resource estimate of 51.1Mt @ 9.3% TGC, making it one of the largest high-grade resources in Tanzania, and work to date has demonstrated Mahenge Liandu’s potential as a commercially viable deposit with significant tonnage, high-grade coarse flake and near surface mineralisation (implying a low strip ratio) contained within one contiguous ore body.
Other assets Armadale has an interest in, include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||
| a) | Name | Value Generation Limited, a company wholly owned by Paul Johnson and Michelle Johnson (PDMR & PCA) | |||||||
| 2 | Reason for the notification | ||||||||
| a) | Position/status | PDMR – Non-Executive Director & PCA | |||||||
| b) | Initial notification /Amendment | Initial Notification | |||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Armadale Capital Plc | |||||||
| b) | LEI | 213800495EK876JETD10 | |||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.1 pence each GBP | |||||||
| Identification code | GB00BYMSY631 | ||||||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | |||||||
| c) | Price(s) and volume(s) | ||||||||
| Price(s) | Volume(s) | ||||||||
| 1.2275 pence | 350,000 | ||||||||
| d) | Aggregated information | ||||||||
| - Aggregated volume | 350,000 | ||||||||
| - Price | 1.2275 pence per Ordinary Share | ||||||||
| e) | Date of the transaction | 31 May 2019 | |||||||
| f) | Place of the transaction | London Stock Exchange XLON | |||||||
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