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# BPM Investments Increases Stake in Andrada Mining Following £577,845 Convertible Debt Conversion
- URL: https://www.africainvestorreview.com/bpm-investments-increases-stake-in-andrada-mining-following-577-845-convertible-debt-conversion/
- Published: 2026-10-21T05:04:00.000Z
- Updated: 2026-10-21T14:09:31.000Z
- Description: The major shareholder raises its holding to 3.66% in the London-listed critical metals producer after converting five loan notes, reducing Andrada’s outstanding note facility principal by £500,000.
- Author: Charles S.
- Tags: Private Equity, Southern Africa, Macro & Markets, M&A

**LONDON & ERONGO** — **BPM Investments Limited** has increased its equity holding in AIM-listed critical metals producer **Andrada Mining Limited** to **3.66%** following the conversion of **£577,845** (\~$750,000) in unsecured convertible loan notes.

The debt-to-equity conversion comprised five loan notes containing **£500,000** in principal alongside **£77,845** in capitalized accrued interest.

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## Equity Issuance & Shareholding Impact

The conversion expands BPM Investments' equity footprint while adjusting total voting rights:

- **New Equity Issuance:** Andrada issued **11,556,905 new ordinary shares** at a fixed conversion price of **5.00 pence per share** per the terms of the original July 2023 loan note documentation.
- **Shareholder Expansion:** BPM Investments increased its total holding from **69,426,746 ordinary shares** (3.16%) to **80,983,651 ordinary shares** (3.66%) of the enlarged share capital.
- **Voting Rights & AIM Admission:** Total enlarged issued share capital stands at **2,210,471,653 ordinary shares**.Application has been made to the London Stock Exchange for AIM admission, with dealings in the new shares scheduled to begin at 8:00 a.m. on October 26, 2026.

## Balance Sheet & Facility Impact

The conversion reduces Andrada’s outstanding liabilities under its long-term financing facility:

- **Facility Balance Reduction:** Outstanding principal under the July 2023 convertible loan note facility has been reduced from £7.7 million down to **£7.2 million** (excluding interest).
- **Asset Operations:** Andrada Mining operates the flagship Uis tin, lithium, tantalum, and tungsten mine in Namibia's Erongo region, supporting critical metals supply chains for industrial, technology, and energy transition markets.

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