Blenheim Natural Resources To Become Two Shields As Chairman Leaves (ALLISS)
LONDON (Alliance News) - Blenheim Natural Resources PLC announced Tuesday it will be changing its name to reflect its portfolio, as Chairman Chris Ells steps down from the board.
Blenheim is to change its name to Two Shields Investments PLC, and its ticker will change to TWOS after the change, the date of which is not confirmed. It noted that some of its resources investments are on the West African Shield, a geological formation, while it also holds a stake in cyber protection firm BrandShield.
Ells is to leave to pursue other business interests, effective from Monday. He will be replaced by Non-Executive Director Charlie Wood, and Sandy Barblett has been appointed as a non-executive director.
The company also said investee Cobalt Blue Holdings has been granted an extra cobalt licence in Cameroon, valid for three years after which it could renew it three times.
In Mali, investee Xantus Inc is soon to start auger drilling to test lithium bearing pegmatites which have been identified already.
Blenheim also announced a GBP1.0 million firm share placing on Tuesday. Of the total, GBP800,000 came through a firm placing of 200.0 million shares at 0.40 pence each, and GBP200,000 from the conditional placing of 50.0 million shares. Blenheim shares were down 7.7% on Tuesday at 0.387p.
It has agreed to issue 4.5 million shares at the same price to settle a consultancy fee with Align Research.
The funds are to be used to increase Blenheim's stake in investee BrandShield, taking 3,359 further shares for GBP200,000, as well as advancing other lithium and cobalt investments. It now holds 20,994 BrandShield shares, 9.0% of the entire company.
BrandShield is an artificial intelligence powered online brand protection and cyber intelligence system.
By George Collard; [email protected]
Copyright 2018 Alliance News Limited. All Rights Reserved.
Register for daily news emails
We have a selection of newsletter options suited to the needs of every investor.To subscribe simply tap the button below: Subscribe now
That page has full facilities for managing your subscriptions. Or, should you choose, unsubscribe.
Any questions — simply contact our customer support team. They will be more than happy to answer your questions.