JOHANNESBURG (miningweekly.com) – Aim-listed African Potash on Friday announced that it had received notice of exercise in respect of $200 000 of convertible security issued last month, pursuant to which 4.89-million ordinary shares now had to be issued.
The $200 000 security exercised was part of the $3.75-million in convertible securities secured by the company in August to support the development of its Lac Dinga potash project, in the Republic of Congo.
African Potash noted that an application had been made for the relevant shares, which would rank equally with all existing ordinary shares in the company, to be admitted to trading on the Aim.
Following the admission of these shares the company’s enlarged issued share capital would comprise 297.63-million ordinary shares with voting rights.