Last checked at 10 Dec 2019 16:38
10 December 2019
AfriTin Mining Limited
("AfriTin" or the "Company")
Issue of Shares
The AfriTin Board has approved the issue of 8,944,774 Ordinary shares of no-par value (the "New Ordinary Shares") to various directors, employees and suppliers as detailed below.
The New Ordinary Shares are being issued at a price of 3.05p, being the closing market price on 9 December 2019.
The New Ordinary Shares are being issued in lieu of payment of director fees (for the period 9 November 2018 through to 8 November 2019) for Glen Parsons, Roger Williams and Laurence Robb; in lieu of full, or part settlement of salaries (for the period 1 October 2018 through to September 2018) for Anthony Viljoen, a director of the Company, Robert Sewell and Frans van Daalen; and the issue of £10k worth of shares to Hannam and Partners, in accordance with the terms of the broker engagement letter with the Company.
Name | No of New Ordinary Shares issued | Total no of ordinary shares held after issue of New Ordinary Shares |
Glen Parsons - Chairman | 1,311,475 | 2,707,486 |
Roger Williams - Non-Executive Director | 819,672 | 2,201,437 |
Laurence Robb - Non-Executive Director | 426,229 | 820,815 |
Anthony Viljoen - Director | 766,177 | 5,541,970 |
Robert Sewell | 2,017,687 | 3,305,074 |
Frans van Daalen | 605,694 | 2,805,694 |
Hannam & Partners - Broker | 327,868 | 1,919,172 |
A further 2,669,972 New Ordinary Shares were issued to certain other employees in lieu of salary.
Application has been made to admit the New Ordinary Shares to trading on AIM and it is anticipated that the application will be effected and dealings will commence on 17 December 2019.
Following the issue of the shares, the total number of shares in issue will be 653,146,373 Ordinary Shares of no par value. There are no Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, AfriTin under the Disclosure and Transparency Rules.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Glen Parsons | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chairman | ||||||
b) | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | AfriTin Mining plc | ||||||
b) | LEI | ·; 213800FKOXWBL6JBVH90
| ||||||
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
Identification code | Ordinary share
GG00BD95V148 | ||||||
b) | Nature of the transaction | Issue of shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
1,311,475 3.05p | ||||||
e) | Date of the transaction | 10 December 2019 | ||||||
f) | Place of the transaction | XLON, AIM | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Roger Williams | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Non-Executive Director | ||||||
b) | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | AfriTin Mining plc | ||||||
b) | LEI | ·; 213800FKOXWBL6JBVH90
| ||||||
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
Identification code | Ordinary share
GG00BD95V148 | ||||||
b) | Nature of the transaction | Issue of shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
819,672 3.05p | ||||||
e) | Date of the transaction | 10 December 2019 | ||||||
f) | Place of the transaction | XLON, AIM | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Laurence Robb | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Non-Executive Director | ||||||
b) | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | AfriTin Mining plc | ||||||
b) | LEI | ·; 213800FKOXWBL6JBVH90
| ||||||
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
Identification code | Ordinary share
GG00BD95V148 | ||||||
b) | Nature of the transaction | Issue of shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
426,229 3.05p | ||||||
e) | Date of the transaction | 10 December 2019 | ||||||
f) | Place of the transaction | XLON, AIM | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Anthony Viljoen | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Executive Officer | ||||||
b) | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | AfriTin Mining plc | ||||||
b) | LEI | ·; 213800FKOXWBL6JBVH90
| ||||||
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
Identification code | Ordinary share
GG00BD95V148 | ||||||
b) | Nature of the transaction | Issue of shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
766,177 3.05p | ||||||
e) | Date of the transaction | 10 December 2019 | ||||||
f) | Place of the transaction | XLON, AIM | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Robert Sewell | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Financial Officer | ||||||
b) | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | AfriTin Mining plc | ||||||
b) | LEI | ·; 213800FKOXWBL6JBVH90
| ||||||
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
Identification code | Ordinary share
GG00BD95V148 | ||||||
b) | Nature of the transaction | Issue of shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
2,017,687 3.05p | ||||||
e) | Date of the transaction | 10 December 2019 | ||||||
f) | Place of the transaction | XLON, AIM | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Frans van Daalen | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Operating Officer | ||||||
b) | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | AfriTin Mining plc | ||||||
b) | LEI | ·; 213800FKOXWBL6JBVH90
| ||||||
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
Identification code | Ordinary share
GG00BD95V148 | ||||||
b) | Nature of the transaction | Issue of shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
605,694 3.05p | ||||||
e) | Date of the transaction | 10 December 2019 | ||||||
f) | Place of the transaction | XLON, AIM | ||||||
For further information, please visit www.afritinmining.com or contact:
AfriTin Limited | |
Anthony Viljoen, CEO | +27 (11) 268 6555 |
Nominated Adviser and Joint Broker | |
WH Ireland Limited Katy Mitchell Adrian Hadden James Sinclair-Ford | +44 (0) 207 220 1666 |
Corporate Advisor and Joint Broker Hannam & Partners Andrew Chubb Jay Ashfield Nilesh Patel | +44 (0) 20 7907 8500 |
Joint Broker | |
NOVUM Securities Limited Jon Belliss | +44 (0)20 7399 9400 |
Financial PR (United Kingdom) | |
Tavistock | +44 (0) 207 920 3150 |
Jos Simson Barney Hayward |
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining is the first pure tin company listed in London and its vision is to create a portfolio of globally significant, conflict-free, tin producing assets. The Company's flagship asset is the Uis brownfield tin mine in Namibia, formerly the world's largest hard-rock tin mine.
AfriTin is managed by an experienced board of directors and management team with a current two-fold strategy: fast track Uis brownfield tin mine in Namibia to commercial production in 2019 as Phase 1, ramping up to 5,000 tonnes of concentrate in a Phase 2 expansion, followed by consolidation of other quality African tin assets. The Company strives to capitalise on the solid supply/demand fundamentals of tin by developing a critical mass of tin resource inventory, achieving production in the near term and further scaling production by consolidating tin assets in Africa.