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DJ Equatorial Mining & Exploration PLC Holding(s) in Company


RNS Number : 8306S

Equatorial Mining & Exploration PLC

08 November 2019

Equatorial Mining & Exploration PLC

Announcement TR1 Holdings of the Concert Party

Equatorial Mining & Exploration PLC ("EME" or the "Company") today announces that further to yesterday's TR1 notification the Board has proved more details on the concert party.

The board received a TR1 notification from the following parties Michael Staten, Charles Bray Edlin Holdings Limited, Daniel Hogan and Stephan Knoef (collectively, the "Concert Party").

Mike Staten and Charles Bray are Directors of the Company and full details of the Concert Party were set out in the Company circular document sent to shareholders on 01 July 2019 and detailed on the Company's website dated 08 July 2019.

Following the completion of the acquisition of Eastinco Limited, Rwanda. the Concert Party, in aggregate hold interests in 6,976,500,000 ordinary shares of 0.01p each in the Company ("Ordinary Shares"), equivalent to 19.31 per cent. of the Company's issued and voting share capital. In addition, these individuals hold in aggregate options and warrants over a further [1,025,000,000 Ordinary Shares which, if exercised in full, could increase the Concert Party's aggregate holding to a maximum potential 21.47 per cent. interest in the Company's issued and voting share capital.

The individual shareholdings of each Concert party Member is set out below

           Name(xv)               % of voting rights       Total Shares Held      Warrants Held 
 Mike Staten                    4.36%                    1,576,500,000           1,025,000,000 
                               -----------------------  ----------------------  ---------------- 
 Charles Bray *                 0 
                               -----------------------  ----------------------  ---------------- 
 Edlin Holdings Limited 
  *                             4.98%                    1,800,000,000 
                               -----------------------  ----------------------  ---------------- 
 Daniel Hogan                   4.98%                    1,800,000,000 
                               -----------------------  ----------------------  ---------------- 
 Stephan Knoef                  4.98%                    1,800,000,000 
                               -----------------------  ----------------------  ---------------- 
              *Charles Bray is deemed to have control over Edlin Holdings by the Takeover 
              panel and as such Edlin Holdings limited is a related party in relation 
              to Charles Bray Director Holdings. 

Following the issuance, the issued share capital will increase to 36,124,849,507. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

   Equatorial Mining & Exploration Plc:                           

Charles Bray, Executive Chairman


Alexander David Securities Limited

David Scott -Corporate Finance

James Dewhurst - Corporate Broking

Telephone: +44 (0) 20 7448 9820

49 Queen Victoria Street, London EC4N 4SA

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(END) Dow Jones Newswires

November 08, 2019 06:53 ET (11:53 GMT)