W Resources PLC - £500k Atlas Facility Drawdown & Conversion Notice
W Resources Plc
("W" or the "Company")
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in
This convertible bond tranche has a 5% coupon and 3-year term. As part of the agreement, Atlas can convert the bond to W shares by issuing a conversion notice with the price set at 95% of the selected 3-day VWAP in the 15 days leading up to the issue of a conversion notice by Atlas.
The Atlas convertible bond facility is unsecured and subordinated to the BlackRock Financial Management Inc. ("BlackRock") loan facility with Blackrock consent required for any repayment.
The Company has received a Conversion Notice from Atlas for
W will issue 96,525,097 ordinary shares of 0.1p per share ("Ordinary Shares") at a conversion price of 0.1036p per Ordinary Share.
Application has been made for the admission to trading on AIM of the Ordinary Shares ("Admission"). Following Admission, which is expected on or around
Information communicated within this announcement is deemed to constitute inside information as stipulated under the
W Resources Plc
Grant Thornton UK LLP
T: +44 (0) 20 7383 5100
Turner Pope Investments (TPI) Ltd
T: +44 (0) 203 657 0050
Alternative Resource Capital / Shard Capital
T:+44 (0) 20 7186 9004
T:+44 (0) 20 7186 9952
T: +44 (0) 20 3405 0205
M: +44 (0) 7525 324431
Quick facts: W Resources PLC
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