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12 March 2024
Beowulf Mining plc
("Beowulf" or the "Company")
Postponement of Subscription period
Beowulf (AIM: BEM; Spotlight: BEO), informs that the subscription period in the Company's upcoming rights issue of Swedish Depository Receipts ("SDR") ("Rights Issue") will be postponed by one day. The subscription period is therefore expected to start on 14 March 2024, instead of the earlier expected 13 March 2024. Please see an updated indicative timetable below.
Updated summarised indicative timetable for the Rights Issue
| General Meeting | 1:00 p.m. (GMT) on 5 March 2024 |
| Results of General Meeting announced through RNS | 5 March 2024 |
| Record date for the share sub-division | 6.00 p.m. (GMT) on 5 March 2024 |
| Admission and dealings in sub-divided shares | 8.00 a.m. (GMT) on 6 March 2024 |
| The last day of trading in SDRs with preferential rights | 6 March |
| The first day of trading in SDRs without preferential rights | 7 March |
| Rights Issue Record Date for the Rights Issue | 8 March |
| Time and date from which conversion of SDRs into Ordinary Shares (and vice versa) is permitted again | 8.00 a.m. (Stockholm time) on 11 March
|
| Publication of the Prospectus | 13 March |
| Start of the subscription period for the Rights Issue and trading in the Swedish Subscription Rights and Paid Subscribed SDRs | 14 March |
| Last day of trading in the Swedish Subscription Rights | 25 March |
| Subscription period for the Rights Issue ends | 28 March |
| Announcement of the results of the Rights Issue | on or around 3 April |
| Announcement of the results of the Capital Raise | on or around 3 April |
| Last day of trading in the Paid Subscribed SDRs | on or around 17 April |
| Record date for conversion of the Paid Subscribed SDRs into New SDRs | on or around 19 April |
| Swedish Admission and commencement of dealings in the New SDRs | on or around 19 April |
Updated summarised indicative timetable for the UK Issue
| Time and date from which conversion of Ordinary Shares into SDRs (and vice versa) is permitted again | 6 March |
| Start of the subscription period for the UK Issue | 14 March |
| Subscription period for the UK Issue ends | 2.00 p.m. (GMT) on 28 March |
| Announcement of the results of the Capital Raise | on or around 3 April |
| AIM Admission and commencement of dealings in the New Ordinary Shares | 8.00 a.m. (BST) on 18 April |
| New Ordinary Shares credited to CREST stock accounts (uncertificated Shareholders only) | after 8.00 a.m. (BST) on 18 April |
| Posting of certificates for the New Ordinary Shares (certificated Shareholders only) | on or around 2 May |
Advisers
In relation to the Rights Issue, the Company has engaged Evli Plc as Swedish financial adviser, Bird & Bird Advokat KB as Swedish legal advisor and Aqurat Fondkommission AB as Swedish issuing agent.
Enquiries:
Beowulf Mining plc
Ed Bowie, Chief Executive Officer ed.bowie@beowulfmining.com
Evli Plc
(Swedish financial adviser)
Mikkel Johannesen / Lars Olof Nilsson Tel: +46 (0) 73 147 0013
SP Angel
(Nominated Adviser & Joint Broker)
Ewan Leggat / Stuart Gledhill / Adam Cowl Tel: +44 (0) 20 3470 0470
Alternative Resource Capital
(Joint Broker)
Alex Wood Tel: +44 (0) 20 7186 9004
BlytheRay
Tim Blythe / Megan Ray Tel: +44 (0) 20 7138 3204
Cautionary Statement
Statements and assumptions made in this document with respect to the Company's current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Beowulf. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to , (i) changes in the economic, regulatory and political environments in the countries where Beowulf operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) Beowulf's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards iron ore. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. Beowulf assumes no unconditional obligation to immediately update any such statements and/or forecast.
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