Iofina PLC (LON:IOF)

Iofina PLC (LON:IOF)


Share Price
22.61 p
Change
0.0059 (0.03 %)
Market Cap
£43.37 m
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Iofina PLC RNS Release

Result of AGM and Open Offer


RNS Number : 1239C
Iofina PLC
13 June 2019
 

THE INFORMATION COMMUNICATED IN THIS ANNOUNCEMENT IS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014.

 

 

13 June 2019

 

Iofina plc

("Iofina", the "Group", or the "Company")

(LSE AIM: IOF)

 

Result of Annual General Meeting

 

Result of Open Offer

 

Total Voting Rights

 

Director/PDMR Shareholding

 

Iofina, specialists in the exploration and production of iodine and manufacturers of high quality specialty chemical products, is pleased to announce that at the Company's Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed.

In addition, the Company announces the result of its Open Offer to raise up to £2.04 million which was announced on 20 May 2019. The Company received valid acceptances from qualifying shareholders in respect of 9,464,655 Open Offer Shares representing 74.19 per cent. of the total number of Open Offer Shares available. All acceptances will therefore be satisfied in full. As a result, a total of 9,464,655 Open Offer Shares will be issued to those qualifying shareholders that participated in the Open Offer, resulting in gross proceeds thereunder of approximately £1.5 million.

Accordingly, it is expected that admission of the 33,804,375 Placing Shares, 570,625 Subscription Shares, the 9,464,655 Open Offer Shares and 20,449,355 Debt for Equity Shares will become effective at 8.00 a.m. on 14 June 2019 ("Admission").

On Admission, the Company will have 191,858,408 Ordinary Shares in issue and there are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares with voting rights is 191,858,408.

The figure of 191,858,408 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Directors' shareholdings

Iofina is pleased to confirm the participation of the Directors, in the Fundraising, resulting in the issue of the Subscription Shares. Their participation and resulting shareholdings are shown below:

Director

Number of Subscription Shares subscribed for

Resultant number of Ordinary Shares

Percentage of issued share capital held

Lance Baller

312,500

4,812,500

2.51%

Thomas Becker

93,750

93,750

0.05%

Malcolm Lewin

93,750

93,750

0.05%

William Bellamy

46,875

46,875

0.02%

J. Frank Mermoud

23,750

23,750

0.01%

 

 

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Company's announcement made at 7:00 a.m. on 20 May 2019.

 

Enquiries:

 

Dr. Tom Becker, CEO & President

Iofina plc

Tel: +44 (0)20 3006 3135

 

Christopher Raggett/Giles Rolls/Matthew Radley (corporate finance)

Camille Gochez (ECM)

finnCap Ltd

Tel: +44 (0)20 7220 0500

 

Media Contact:

Charles Goodwin/Harriet Jackson

Yellow Jersey PR Limited

Tel: +44 (0)7544 275 882

About Iofina:

Iofina specialises in the exploration and production of iodine, and manufacturing of specialty chemical compounds.  Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America, based on Iofina's WET® IOsorb® technology. Iofina has production operations in the United States, specifically in Kentucky and Oklahoma. It is a vertically integrated company, covering the process from the production of iodine in the field, to the manufacture of the chemical end-products derived from iodine, supplying them to the consumer, and the recycling of iodine using iodinated side-streams from waste chemical processes. Additionally, Iofina utilises its expertise in specialty chemical manufacturing to produce non-iodine based products as well. Iofina utilises its portfolio of patented and patent-pending technology, and proprietary methods and trademarks throughout all business lines.

www.iofina.com

 

1

Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")

a)

Name

Lance Baller

2.

Reason for the Notification

a)

Position/status

PDMR - Non-Executive Chairman

b)

Initial notification/Amendment

Initial notification

3.

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

a)

Name

Iofina plc

b)

LEI

213800QDMFYVRJYYTQ84

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

Ordinary Shares of 1 pence each

Identification code

GB00B2QL5C79

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

16p

312,500

d)

Aggregated information:

·    Aggregated volume

 

·    Price

 

312,500

 

£50,000

e)

Date of the transaction

14 June 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")

a)

Name

Thomas Becker

2.

Reason for the Notification

a)

Position/status

PDMR - Chief Executive Officer and President

b)

Initial notification/Amendment

Initial notification

3.

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

a)

Name

Iofina plc

b)

LEI

213800QDMFYVRJYYTQ84

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

Ordinary Shares of 1 pence each

Identification code

GB00B2QL5C79

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

16p

93,750

d)

Aggregated information:

·    Aggregated volume

 

·    Price

 

93,750

 

£15,000

e)

Date of the transaction

14 June 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")

a)

Name

Malcolm Lewin

2.

Reason for the Notification

a)

Position/status

PDMR - Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3.

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

a)

Name

Iofina plc

b)

LEI

213800QDMFYVRJYYTQ84

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

Ordinary Shares of 1 pence each

Identification code

GB00B2QL5C79

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

16p

93,750

d)

Aggregated information:

·    Aggregated volume

 

·    Price

 

93,750

 

£15,000

e)

Date of the transaction

14 June 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")

a)

Name

William Bellamy

2.

Reason for the Notification

a)

Position/status

PDMR - 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

Iofina plc

b)

LEI

213800QDMFYVRJYYTQ84

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

Ordinary Shares of 1 pence each

Identification code

GB00B2QL5C79

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

16p

46,875

d)

Aggregated information:

·    Aggregated volume

 

·    Price

 

46,875

 

£7,500

e)

Date of the transaction

14 June 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")

a)

Name

J. Frank Mermoud

2.

Reason for the Notification

a)

Position/status

PDMR - 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

Iofina plc

b)

LEI

213800QDMFYVRJYYTQ84

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

Ordinary Shares of 1 pence each

Identification code

GB00B2QL5C79

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

16p

23,750

d)

Aggregated information:

·    Aggregated volume

 

·    Price

 

23,750

 

£3,800

e)

Date of the transaction

14 June 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 


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