Arkle Resources PLC (LON:ARK)

Arkle Resources PLC (LON:ARK)


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Arkle Resources PLC RNS Release

Fundraising of £230,000


RNS Number : 9124R
Connemara Mining Company plc
05 March 2019
 

5th March 2019

 

Connemara Mining Company plc

 

("Connemara" or the "Company")

Fundraising of £230,000

 

Connemara Mining Company plc (LON: CON), the Irish gold and zinc exploration and development company, is pleased to announce that it has raised £230,000 from directors and existing shareholders, by way of a placing of 18,400,000 new ordinary shares ("the Placing Shares") at a price of 1.25p per ordinary share ("the Placing").  For each new share subscribed, the investor will be entitled to one warrant to subscribe for an additional ordinary share at a price of 1.8p per share at any time before 11 September 2020.

 

The funding will be used to complement working capital as well as to support ongoing exploration activities on the Company's Mine River Gold Project, located in counties Wicklow and Wexford.  The Company looks forward to updating shareholders following the extraordinary general meeting on 12 March 2019 regarding the proposed Company name change.

 

Directors' Holdings

 

Certain directors of the Company have participated in the Placing as follows:

 

Name

No. of Placing Shares Issued

Resultant Shareholding

% of Enlarged Share Capital

 

 

 

 

James Finn

800,000

9,063,527

6.85

David Cockbill

444,444

935,408

0.71

Patrick Cullen

800,000

800,000

0.61

 

 

Related Party Transaction

 

The subscription for placing shares and warrants by James Finn, David Cockbill and Patrick Cullen (the "Directors' Participation") is a related party transaction under the AIM Rules for Companies.  John Teeling and Michael McNeilly, who are independent directors for the purposes of the transaction, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, considers the terms of the Directors' Participation to be fair and reasonable insofar as shareholders are concerned.

 

Admission and Total Voting Rights

 

An application has been made for the admission of the Placing Shares to trading on AIM which is expected to occur on or around 11 March 2019 ("Admission").  Following the Admission of the Placing Shares, there will be a total of 132,311,593 ordinary shares in issue with each share carrying the right of one vote.  The above figure may be used by shareholders as the denominator for the calculations by which they will deter if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

Information for Editors

Connemara is a diversified exploration company with principal assets in gold and zinc exploration licences across Ireland.  Connemara currently holds interests in a total of 37 licences, including joint ventures with Teck Ireland Ltd. at the Oldcastle Zinc Project and with Group Eleven Resources Corp. at the Stonepark Zinc Project.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.

 

ENDS

Enquiries:

 

Connemara Mining Company Plc

 

 

John Teeling, Chairman

+353 (0) 1 833 2833

 

Patrick Cullen, CEO

+353 (0) 87 272 1748

 

 

+44 (0) 755 237 8208

 

 

 

 

SP Angel Corporate Finance LLP

 

 

Matthew Johnson/Jamie Spotswood

+44 (0) 203 470 0470

 

 

 

 

First Equity Limited

 

 

Jason Robertson

+44 (0) 207 374 2212

 

 

 

 

 

Blytheweigh

+44 (0) 207 138 3204

 

Julia Tilley

+44 (0) 781 506 8387

 

Jane Lenton

+44 (0) 742 756 1762

 

 

 

 

Teneo

 

Luke Hogg

+353 (0) 1 661 4055

 

Alan Tyrrell

+353 (0) 1 661 4055

 

         

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

James Finn

 

 

2

Reason for the notification

a)

Position/status

Finance Director

b)

Initial notification/ Amendment

Initial Notification

 

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Connemara Mining plc

b)

LEI

2138000CT8MOLMNEQ44

 

 

 

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of Euro 0.01 each

IB00B2357X72

b)

Nature of the transaction

a)    Placing

b)    Grant of warrants

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

a)    1.5p

800,000

b)    1.8p

800,000

 

 

 

d)

Aggregated information

-      Aggregated volume

-      Price

 

As above

 

e)

Date of the transaction

5 March 2019

f)

Place of the transaction

London Stock Exchange, AIM

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Patrick Cullen

 

 

2

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/ Amendment

Initial Notification

 

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Connemara Mining plc

b)

LEI

2138000CT8MOLMNEQ44

 

 

 

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of Euro 0.01 each

IB00B2357X72

b)

Nature of the transaction

a)   Placing

b)   Grant of warrants

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

a)    1.5p

800,000

b)    1.8p

800,000

 

 

 

d)

Aggregated information

-      Aggregated volume

-      Price

 

As above

 

e)

Date of the transaction

5 March 2019

f)

Place of the transaction

London Stock Exchange, AIM

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

David Cockbill

 

 

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification/ Amendment

Initial Notification

 

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Connemara Mining plc

b)

LEI

2138000CT8MOLMNEQ44

 

 

 

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of Euro 0.01 each

IB00B2357X72

b)

Nature of the transaction

a)   Placing

b)   Grant of warrants

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

a)    1.5p

444,444

b)    1.8p

444,444

 

 

 

d)

Aggregated information

-      Aggregated volume

-      Price

 

As above

 

e)

Date of the transaction

5 March 2019

f)

Place of the transaction

London Stock Exchange, AIM

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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