BWA Group PLC's Share Holding in Focus - Kalkine Media

Incorporated in 1932 as an investment company, BWA Group PLC is listed on AQSE Stock Exchange. BWA Resources (UK) is a subsidiary company of BWA Group Plc, in which it has a 100 per cent stake in the shares.

The company has a total of seven mineral explorations licenses, out of which five are in Canada after it acquired Kings of North Group (KOTN), a Canadian company, in 2019, and two are in Cameroon.

Latest Change in Shareholding of The Company

On 30 June 2020, the company came up with an announcement that 4,000,000 ordinary shares would be allotted at 0.5 pence to its current Directors, in part settlement of fees, with respect of the quarter ended 31 March 2020. The application for the above-mentioned ordinary shares has been admitted to trading on the AQSE Growth Market, and the admission has become effective from 2 July 2020.

The Directors' interests in the enlarged issued share capital of the company after the allotment:

(The share options are having an exercise period of five years from grant.)

Later, there were other developments in the shareholding of the company as Richard Battersby, BWA Chairman and Director, on Friday 3 July 2020, purchased a total of 400,000 ordinary shares at a price of 0.4 pence each in the company. Followed by the other director James Butterfield who purchased a total of 150,000 ordinary shares on Tuesday 7 July 2020, at a price of 0.6 pence of which he is the beneficial holder.

As a result of the above transactions, the director’s current shareholding in the company changed, which is shown in the following table:

Current Shareholding (updated till 7 July 2020)

BWA is now having a total of 298,285,065 ordinary shares in issue, each of which carries the right to one vote. The company holds none of the ordinary shares in treasury. As per the Financial Conduct Authority's Disclosure and Transparency Rules, 298,285,065 ordinary shares can be used by the shareholders for deciding their requirements to notify a change in their interest in the company’s share capital.

The company also has 14% Convertible Unsecured Loan Notes (CLNS) 2021 in issue of £301,000, which can be converted to a maximum of 80,803,924 ordinary shares, in case the CLNS have not been redeemed by 31 December 2021.

Outlook

The company has transformed after the acquisition of Kings of the North Corp (KOTN) in October 2019, having received the subsequent grant of two exploration licences in Cameroon. As per the Strategic and Business update of the company released on 25 June 2020, there has been an increase of £0.18 million in the company's imbedded investment in the Cameroon Project over the last thirteen-months to £0.45 million from £0.27 million which was made on 30 April 2019.

The current shareholding pattern of the company demonstrates the rising confidence of the management in the company. Going forward, the directors fully expect the operations to be financed from the profitable realisation of the investments and anticipated revenue streams.

The company has a well experienced and versatile management team, and the directors have already established procedures for planning, budgeting and monitoring of the performance of the company on a regular basis and for determining the appropriate course of action to manage any business risks.

Stock Price Performance

The stock of the BWA Group Plc (BWAP) ended at GBX 0.70 on the AQSE Growth Market on 15 July 2020, its 52-weeks high price, while the 52-weeks low price was GBX 0.10.