NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 19 June 2015 Baobab Resources Plc (the "Company") Results of General Meeting & Results of Open Offer

On 1 June 2015, Baobab Resources Plc announced that it had raised:
(i) £9,393,007.84 on a firm basis before expenses, subject only to shareholder approval;
and
(ii) up to £1,454,674.16 a conditional basis before expenses, subject to shareholder approval and levels of acceptance under the Open Offer,
through a placing to Redbird of 469,650,392 Firm Placing Shares, subject only to shareholder approval, at a price of 2 pence per Ordinary Share (the "Issue Price") and up to 72,733,708
Conditional Placing Shares at the Issue Price, subject to shareholder approval and level of acceptances received under the Open Offer.
The Company also announced that it was making an open offer to all Eligible Shareholders at the Issue Price to raise up to £1,454,674.16 through the issue of up to 72,733,708 Open Offer Shares to Eligible Shareholders (on the basis of 1 Open Offer Share for every 0.644464
Existing Ordinary Share held at the Record Date) (the "Open Offer").
The Company is pleased to announce the result of the Open Offer which closed for acceptances at 11.00 a.m. on 2.00 p.m. on 18 June 2015. Valid acceptances including excess applications have been received in respect of 14,850,303 Open Offer Shares, representing a total of approximately 20.42 per cent. of those Open Offer Shares available under the Open Offer.
All valid applications under the Open Offer have been met in full. The Company has therefore raised gross proceeds of £297,006.06 through the Open Offer and, following issue in full of all Placing Shares, will have raised a total gross amount of £10,847,682 pursuant to the Open Offer and Placing.
The Company is also pleased to announce that, at the general meeting held on 17 June
2015, all resolutions were duly passed, and so both the Open Offer and the Placing are now unconditional.
This announcement should be read in conjunction with the full text of the circular dated 1
June 2015, published in connection with the Placing and Open Offer and defined terms used in this announcement shall have the same meaning as those terms defined and used in such circular.

Enquiries:

Ben James (Managing Director) Tel: +258 21 486 404
Jeremy Dowler (Chairman) Tel: +44 1372 450529
Frank Eagar (Finance Director) Tel: +27 76 753 5377

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