Last checked at 15 Dec 2021 16:28
15 December 2021
AfriTin Mining Limited
("AfriTin" or the "Company")
Issue of Shares
Settlement of fees through issue of shares
The AfriTin Board has approved the issue of 798 001 Ordinary shares of no par value to settle a contractual liability at 4.90p in lieu of fees in relation to a consulting agreement ("Settlement Shares").
Application for Admission
An application has been made for the Settlement Shares to be admitted to trading on AIM ("Admission"). Dealings in the Settlement Shares are expected to commence on or around 22 December 2021.
Disclosure and Transparency Rules
In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Settlement Shares its issued share capital will comprise 1,113,132,913 Ordinary Shares of no-par value upon Admission (the "Enlarged Share Capital"). All of these Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in treasury. The total number of voting rights in the Company will therefore be 1,113,132,913 upon Admission. 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, the Company under the DTRs.
AfriTin Mining Limited | +27 (11) 268 6555 |
Anthony Viljoen, CEO | |
Nominated Adviser | +44 (0) 207 220 1666 |
WH Ireland Limited Katy Mitchell | |
Corporate Advisor and Joint Broker | |
H&P Advisory Limited Andrew Chubb Jay Ashfield Nilesh Patel | +44 (0) 20 7907 8500 |
Stifel Nicolaus Europe Limited Ashton Clanfield Callum Stewart
| +44 (0) 20 7710 7600 |
Tavistock Financial PR (United Kingdom) | +44 (0) 207 920 3150 |
Jos Simson Nick Elwes |
|
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is a London-listed tech-metals mining company with a vision to create a portfolio of globally significant, conflict-free, producing assets. The Company's flagship asset is the Uis Tin Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.
AfriTin is managed by an experienced board of directors and management team with a current strategy to ramp-up production at the Uis Tin Mine in Namibia to 10,000 tonnes of tin concentrate and 350,000 tonnes of lithium concentrate in a Phase 2 expansion, having reached Phase 1 commercial production in 2020. 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.