Placing Result, PDMR Dealing & Broker Appointment
23/08/2024 07:00
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RNS Number : 5054B Bluejay Mining PLC 23 August 2024
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Bluejay Mining plc
("Bluejay", the "Company" or the "Group")
Result of Placing
PDMR Dealing
Appointment of Joint Broker
The Company confirms, further to its announcement of 4.36 p.m. BST on 22
August 2024 (the "Announcement"), that it has successfully closed the Placing.
Result of Placing
Subject to the satisfaction of the conditions referred to below, the Placing
has raised, in aggregate, gross proceeds of £1.75 million through the placing
of 583,333,327 Ordinary Shares (the "Placing Shares") with various UK &
European institutional, Directors and management as well as existing and new
sophisticated investors at a price of 0.3 pence per share (the "Placing
Price").
The allotment and issue of the Placing Shares is conditional, inter alia,
upon:
· Admission becoming effective by no later than 8.00 a.m.
on 6 September 2024 (or such other time and/or date, being no later than 8.00
a.m. on 30 September 2024, as Zeus and the Company may agree);
· the conditions in the Placing Agreement in respect of the
Placing Shares being satisfied or (if applicable) waived; and
· the Placing Agreement not having been terminated in
accordance with its terms prior to Admission.
Accordingly, if any of such conditions are not satisfied or, if applicable,
waived, the Placing will not proceed.
Use of Proceeds
As set out in the Announcement, the Company will use the proceeds for the
following activities:
· Preparation for Disko 2025 fieldwork as well as
stakeholder engagement;
· Preparation for White Flame Jameson Environmental
Impact Assessment and drilling consultation;
· Resampling and partner engagement at the Company's
Outokumpu industrial gas asset in Finland;
· Site surveys and regional sampling at the Company's
Thule Copper project;
· Continued maintenance and engagement on Hammaslahti a
historical state owned copper mine in Finland; and
· General corporate and working capital purposes.
PDMR Participation in the Placing
The Company has been notified of the following participants in the Placing
(conditional on Admission of the Placing Shares):
Name Role Ordinary Shares subscribed for in the Placing Original holding prior to the Placing Total Holding if the Placing proceed to completion Percentage holding of the enlarged share capital if the Placing proceed to
completion and the Settlement Shares are issued
Rod McIllree Non-Executive Director 6,666,666 97,499,268 104,165,935 4.99
Troy Whittaker Non-Executive Director 3,333,333 5,000,000 8,333,333 0.40
Eric Sondergaard Managing Director 6,666,666 7,500,000 14,166,666 0.68
Related Party Transactions
As Rod McIllree, Troy Whittaker, and Eric Sondergaard are directors of the
Company, their participation in the Placing constitutes a related party
transaction for the purpose of Rule 13 of the AIM Rules of Companies. The
Director independent of the Placing, being Mike Hutchinson, considers having
consulted with SP Angel, the Company's nominated adviser, that the terms of
the participation in the Placing is fair and reasonable in so far as
shareholders are concerned.
Appointment of Joint Broker
The Company confirms it has appointed Axis Capital Markets Limited as its
joint broker with immediate effect.
Admission and Total Voting Rights
Application will be made to the London Stock Exchange for admission of the
First Placing Shares, a total of 583,333,327 Ordinary Shares to trading on
AIM. It is expected that Admission will become effective and dealings in the
Placing Shares will commence on AIM at 8.00 a.m. on or around 6 September 2024
(or such later date as may be agreed between the Company and the Bookrunner,
but no later than 30 September 2024) (the Admission").
The Placing Shares will be issued fully paid and will rank pari passu in all
respects with the Company's existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the
Company in issue will be 2,089,397,216 with voting rights. This figure 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's share capital pursuant to the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Capitalised terms used but not otherwise defined in this announcement shall
have the meanings ascribed to such terms in Appendix II of the Announcement,
unless the context requires otherwise.
For further information, please contact:
Bluejay Mining PLC enquiry@bluejaymining.com (mailto:enquiry@bluejaymining.com)
Eric Sondergaard
PR & IR Adviser - BlytheRay Tel: +44 (0) 20 7138 3204
Tim Blythe / Megan Ray/ Said Izagaren
Nominated Adviser and Broker - SP Angel Corporate Finance LLP Tel: +44 (0) 20 3470 0470
Ewan Leggat / Adam Cowl
Joint Broker - Zeus Capital Tel: +44 (0) 20 7220 1670
Harry Ansell/Katy Mitchell/Andrew de Andrade
Joint Broker - Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Lewis Jones
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1) Roderick McIllree
2) Troy Whittaker
3) Eric Sondergaard
2 Reason for the notification
a) Position/status 1) Non-Executive Director
2) Non-Executive Director
3) Managing Director
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Bluejay Mining plc
b) LEI 213800E9AEFEHFLOVJ19
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 Issue of Placing Shares
Identification code
GB00BFD3VF20
b) Nature of the transaction Participation in Placing
c) Price(s) and volume(s) Price No. of shares
0.3p 6,666,666
0.3p 3,333,333
0.3p 6,666,666
d) Aggregated information
0.3p 6,666,666
- Aggregated volume
- Price 0.3p 3,333,333
0.3p 6,666,666
e) Date of the transaction 22 August 2024
f) Place of the transaction XLON
d)
Aggregated information
- Aggregated volume
- Price
0.3p 6,666,666
0.3p 3,333,333
0.3p 6,666,666
e)
Date of the transaction
22 August 2024
f)
Place of the transaction
XLON
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