Completion of Aberdeen Minerals Initial Investment
CAML completes £3 million initial investment in Aberdeen Minerals, acquiring 28.7% stake with warrant for further £2 million investment.
- Initial investment £3 million
- Shares purchased 35,294,117 shares at 8.5 pence per share
- Shareholding 28.7%
- Warrant value £2 million at 11 pence per share
- Potential ownership if warrant exercised 37.8%
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Central Asia Metals plc (AIM: CAML) announces that, following the successful fulfilment of the transaction closing conditions, as described in its announcement dated 25 March 2024, the Company has now completed its £3 million initial investment in Aberdeen Minerals Ltd ('Aberdeen'). CAML now has 35,294,117 shares, purchased at a price of 8.5 pence per share, and a 28.7% shareholding in Aberdeen.
Further to completion, CAML was issued warrants to invest an additional £2 million at a price of 11 pence per share, which if exercised, would bring CAML's ownership to 37.8%, assuming no further changes to Aberdeen's issued share capital.
CAML also confirms that, upon completion of this transaction, Louise Wrathall, CAML's Executive Director of Corporate Development, joined the Aberdeen board as a Non-Executive Director.
Central Asia Metals Tel: +44 (0) 20 7898 9001 Nigel Robinson, CEO Gavin Ferrar, CFO Louise Wrathall, Director of Corporate Development louise.wrathall@centralasiametals.com Peel Hunt (Nominated Advisor and Joint Broker) Tel: +44 (0) 20 7418 8900 Ross Allister David McKeown Georgia Langoulant BMO Capital Markets (Joint Broker) Tel: +44 (0) 20 7236 1010 Thomas Rider Pascal Lussier Duquette BlytheRay (PR Advisors) Tel: +44 (0) 20 7138 3204 Tim Blythe Megan Ray
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.