22 Jul 2016 07:00
22 July 2016
Sovereign Mines of Africa PLC
("SMA" or "the Company")
Issue of Warrants
Sovereign Mines of Africa Plc announces that it has granted a total of 22,000,000 warrants over Ordinary Shares to Jeremy Sparrow following his appointment as a Non-Executive director on the 18 July 2016. Jeremy Sparrow is not taking any fees in relation to his appointment to the board of the Company and has in lieu of such been granted the 22,000,000 warrants.
Each warrant entitles the holder to subscribe for one Ordinary Share at the price of 0.23 pence per share. 11,000,000 warrants may be exercised from 28 July 2016 until 29 July 2021. The remaining 11,000,000 warrants are exercisable on the execution of a reverse takeover by the Company.
Enquiries:
SOVEREIGN MINES OF AFRICA PLC
Giles Clarke - c/o Billy Clegg +44 20 3757 6983
SHORE CAPITAL - NOMINATED ADVISER & BROKER
Toby Gibbs/Bidhi Bhoma - Corporate Finance
Jerry Keen - Corporate Broking +44 207 408 4090
CAMARCO
Gordon Poole / Sean Blundell +44 20 3757 6983