22 Jun 2016 16:02
22 June 2016
Sovereign Mines of Africa PLC
("SMA" or "the Company")
Redemption of Deferred Shares & Issue of Equity
Sovereign Mines of Africa PLC, the gold mining exploration company with properties in the Republic of Guinea in West Africa, confirms that, on 22 June 2016, it redeemed all of the 310,858,850 deferred shares of 0.99 pence each in the Company in issue (created as a result of the sub-division in June 2015 of each of the Company's former ordinary shares of 1.0 pence each into one ordinary share of 0.01 pence and one deferred share of 0.99 pence) for 100 pence in aggregate, in accordance with the rights attaching to such classes of shares.
The redemption was funded out of the proceeds of the subscription by Lea Yeat Limited (a company connected with the Company Secretary, Cargil Management Services Limited) for 200 new ordinary shares of 0.01 pence in the Company for 0.5 pence each in cash, made for the purpose of such redemption. Such ordinary shares were issued today.
Application will be made to the London Stock Exchange for such 200 new ordinary shares to be admitted to trading on AIM and it is expected that such admission will take place at 8.00 a.m. on 28 June 2016.
Total Voting Rights
Following the redemption, the total issued share capital of the Company now comprises 860,859,050 ordinary shares of 0.01 pence each, with one voting right per share. There are no shares held in treasury.
The total number of voting rights in the Company is therefore 860,859,050.
The above figure of 860,859,050 shares may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.
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
Billy Clegg / Gordon Poole +44 20 3757 6983