20 Oct 2016 14:00
20 October 2016
Highlands Natural Resources plc ('Highlands' or 'the Company')
Issue of Shares
Highlands, the London listed natural resources company, announces that, pursuant to the exercise of warrants today, an application has been made for an additional 10,000,000 ordinary shares in the Company to be admitted to trading on the Official List of the UK Listing Authority by way of a Standard Listing and to trading on the London Stock Exchange's Main Market for listed securities ('Admission'). Admission is expected to take place on 27 October 2016.
These warrants are the full amount of those acquired by an institutional investor from Diversion Technologies, LLC ('Diversion'), as announced on 30 September 2016. This warrant exercise has provided the Company with a further £2,500,000 of funds before costs and brings the total amount received by the Company since July 2016 from warrants sold by Diversion to £7,500,000. Neither Diversion nor the institutional investor hold any further warrants.
Accordingly, following Admission, the total number of ordinary shares in Highlands with voting rights will be 64,287,349. This figure may be used by Highlands shareholders as the denominator for calculations to determine if they have a notifiable interest in Highlands under the Disclosure and Transparency Rules, or if such interest has changed.
Disclosure of notifiable interests
Due to the issue of the above New Ordinary Shares, although the number of ordinary shares held by Mr R B Price, CEO of Highlands, has not changed, with effect from Admission his holding represents 18.67 per cent. of the Company's total voting rights. Similarly, although the number of ordinary shares held by Diversion Technologies Inc. has not changed, with effect from Admission their holding represents 2.96 per cent. of the Company's total voting rights.
**ENDS**
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