African Pioneer plc

June 05, 2015 05:22 ET

Issue of Equity

                                        AFRICAN PIONEER PLC
                               ("African Pioneer" or the "Company")
                                          ISSUE OF EQUITY
5 June 2015

African Pioneer plc is pleased to announce that it has placed 4,998,258 Ordinary Shares of nil par
value each in the Company at a price of 1p per share on 2 June 2015, raising £49,982.58. The funds
will  be used for ongoing administrative expenses, and advancing opportunities in accordance  with
the Company's investment strategy.

The new Ordinary Shares rank pari passu with the Existing Ordinary Shares.

The placement is through the five existing Founder Investors in the Company who have taken part as

Name:                                           Amount of Ordinary Shares
Tiger Resource Finance plc                       2,529,130
Colin Bird (director)                            617,282
McNolan Venture Ltd*                             617,282
Ronald Bruce Rowan                               617,282
Raju Samtani (director)                          617,282

* McNolan Venture Limited is owned by Michael Nolan and his wife Christine McElhinney.

On completion of the placing, the above shareholders' interests in the Company are as follows:

Name                                   Ordinary Shares and percentage of Issued Share Capital
Tiger Resource Finance plc              59,529,132 (50.75%)
Colin Bird (director)                   10,617,282 (9.05%)
McNolan Venture Ltd                     10,617,282 (9.05%)
Ronald Bruce Rowan                      10,617,282 (9.05%)
Raju Samtani (director)                 10,617,282 (9.05%)

Following  this placing there are now 117,298,260 ordinary shares in issue, of which the directors
are  interested  in a total of 21,234,564 ordinary shares, representing 18.10%  of  the  Company's
issued share capital.

The Directors of African Pioneer accept responsibility for the content of this announcement.


Raju Samtani/Colin Bird
0207 581 4477

Corporate Advisor
Peterhouse Corporate Finance Limited
Guy Miller / Mark Anwyl
Telephone: 020 7220 9796

Contact Information

  • African Pioneer plc