BWA Group (AQSE:BWAP) has allotted a total of 4,133,333 ordinary shares at 0.5p each in part settlement of fees due to current Directors in respect of the quarter ended 30th of June 2020.
The mineral firm said an application will be made for the Ordinary Shares to be admitted to trading on the AQSE Growth Market which is expected to become effective on 16th July 2020.
Following this issue, Directors Richard Battersby and James Butterfield will hold 47.1m and 46.5m ordinary shares, respectively, equating to 15.58% and 15.40% of shares, respectively.
Director Alex Borrelli will hold 27.6m ordinary shares, making up 9.13% while Director James Hogg will hold 133,333 shares representing 0.04%.
Shares in BWA Group opened flat at 0.7p on Tuesday morning.
BWA Group now has 302,418,398 Ordinary Shares in issue, each share carrying the right to one vote.
It also has £301,000 of 14% Convertible Unsecured Loan Notes 2021 in issue, convertible into a maximum of 80,803,924 Ordinary Shares if the CLNS have not been redeemed by 31 December 2021.
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