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Botswana Diamonds provides fundraising and capital reorganization blue print
Application has been made for the admission of 303,642,498 New Ordinary Shares
By: Diamond World News Service
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Dec 24 2015 9:24AM
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Reference: 12468  

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With a view to fundraising and capital reorganisation, the Botswana Diamonds announced that the dealings on AIM in the Existing Ordinary Shares will cease at the close of business on December 23, 2015. Moreover, Application has been made for the admission of 303,642,498 New Ordinary Shares, comprising 239,487,648 New Ordinary Shares issued pursuant to the Capital Reorganisation and 64,154,850 New Ordinary Shares issued pursuant to the Fundraising, to trading on AIM. 

 Earlier at the Company's AGM on 18 December 2015 shareholders approved the sub-division of each of the Company's 239,487,648 existing ordinary shares of 1 pence each into one new ordinary share of 0.25p each and one new deferred share of 0.75p each, the "Capital Reorganisation". The New Ordinary Shares will carry the same rights and benefits as those attached to the Existing Ordinary Shares (save for the reduction in nominal value). 

 The number of New Ordinary Shares in issue following the Capital Reorganisation is unchanged from the number of Existing Ordinary Shares in issue immediately prior to the Capital Reorganisation. Shareholders' individual holdings will be for, the same number of New Ordinary Shares as the number of Existing Ordinary Shares immediately prior to the General Meeting. Any share certificates for the Existing Ordinary Shares will remain valid for the New Ordinary Shares. 

Besides above, the Company issued a total of 64,154,850 New Ordinary Shares with Warrants attached to raise £545,316 as announced on 18 December 2015.

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