Conversion of Loan Notes
Beowulf Mining plc announced that an investor has elected to convert £50,000 of unsecured convertible loan notes into 925,925 new ordinary shares of 5 pence each. This conversion will increase the Company's issued ordinary share capital to 63,703,703 shares upon admission to trading on AIM, expected on 30 March 2026. This issuance represents a dilution to existing shareholders and impacts the total voting rights calculation for disclosure purposes.
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Further to the Company's announcement on 22 December 2025, Beowulf (AIM: BEM; Spotlight: BEO), the European mineral exploration and development company, announces that it has received notice from the Investor to convert £50,000 of the outstanding balance of unsecured convertible loan notes into ordinary shares of 5 pence each in the Company ("Ordinary Shares").
Accordingly, the Company will issue 925,925 new Ordinary Shares to the Investor in accordance with the investment terms.
Admission and Total Voting Rights
Applications have been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective on 30 March 2026.
Upon Admission, the Company's issued ordinary share capital will consist of 63,703,703 Ordinary Shares, none of which are held in treasury. The above figure of 63,703,703 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.