REG - Alkemy Capital Invs. - Correction - Oversubscribed Placing

Alkemy Capital InvestmentsAnnouncement

02/01/2024 17:00

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RNS Number : 4175Y  Alkemy Capital Investments PLC  02 January 2024

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE
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PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.

 

2 January 2024

 

Alkemy Capital Investments Plc

 

Correction - Oversubscribed Placing to raise £650,000

 

Alkemy Capital Investments plc ("Alkemy") (LSE: ALK) notes the following
amendment to the "Oversubscribed Placing to raise £650,000" announcement
released on 18 December 2023. The new ordinary shares are expected be admitted
to trading on the Main Market of the London Stock Exchange ("Admission") on or
around 4 January 2024 and not 22 December 2023 as was originally stated. All
other details remain unchanged and the full amended text is shown below:

 

Oversubscribed Placing to raise £650,000

Alkemy Capital Investments plc ("Alkemy") (LSE: ALK) is pleased to announce
that it has raised £650,000 in an oversubscribed placing of 650,000 new
ordinary shares at a placing price of  £1 per share, being the total amount
available under the Company's existing share authorities.

This includes a subscription of £50,000 of shares at the placing price from
director Sam Quinn.

The net proceeds will be used to further the development of TVL's lithium
hydroxide processing facility in Teesside, UK and for general working capital
purposes ahead of the company seeking to secure mezzanine financing for that
facility, without diluting Alkemy's shareholders.

Following the placing, the directors will have the following beneficial
shareholdings in the Company:

 

                Number of Shares  % of enlarged capital
 Paul Atherley  3,078,000         37.59%
 Sam Quinn      446,428(1)        5.06%
 Helen Pein     25,000            0.28%
 Vikki Jeckell  0                 0%

 

(1)Including shares held by Silvertree Partners in which Mr Quinn has an
interest

 

The placing is conditional upon and an application will be made for 650,000
Ordinary Shares to be admitted to the official list (Standard Segment) of the
FCA and to trading on the Main Market of the London Stock Exchange
("Admission") and Admission is expected to occur at 8.00 a.m. on or around 4
January 2024.

 

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the
Company confirms that following Admission, the Company's enlarged issued
ordinary share capital will comprise 8,814,851 Ordinary Shares each with a
right to vote and with no shares held in treasury. Therefore, following
Admission, the above figure may be used by shareholders in the Company as the
denominator for the calculations to 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.

 

In addition, 52,000 broker warrants are being issued in conjunction with the
placing, exerciseable at £1 per share for a period of 2 years from Admission.

 

Alkemy Director Sam Quinn commented:

"We are grateful to all the existing and new shareholders who have contributed
to this fundraise, which will enable the further development of TVL's lithium
hydroxide processing facility in Teesside, UK. Funds will be used to continue
to advance FEED and for G&A ahead of securing a non-dilutive mezzanine
facility for TVL which is targeted for early 2024. We appreciate the ongoing
support from all stakeholders and look forward to a successful 2024 as we move
to establish the UK's first major independent and sustainable lithium
hydroxide producer at the Wilton International Chemicals Park in Teesside,
UK".

 

Further information

For further information, please visit the Company's website:
www.alkemycapital.co.uk (http://www.alkemycapital.co.uk) or
www.teesvalleylithium.co.uk (http://www.teesvalleylithium.co.uk)

-Ends-

 Alkemy Capital Investments Plc  Tel: 0207 317 0636

                                 info@alkemycapital.co.uk (mailto:info@alkemycapital.co.uk)
 SI Capital Limited              Tel: 0148 341 3500
 VSA Capital Limited             Tel: 0203 005 5000

 

 

ABOUT ALKEMY CAPITAL

 

Alkemy is seeking to establish independent and sustainable lithium hydroxide
production by developing lithium sulphate and lithium hydroxide facilities in
the UK and Australia.

 

Alkemy, through its wholly owned UK subsidiary Tees Valley Lithium, has
secured a 9.6 ha brownfields site with full planning permission at the Wilton
International Chemicals Park in Teesside, a major UK Freeport, to build the
UK's first and one of Europe's largest lithium hydroxide processing facility.

 

Tees Valley Lithium has completed a Class 4 Feasibility Study for its proposed
lithium hydroxide refinery which will process feedstock imported from
various sources to produce 96,000 tonnes of premium, low-carbon lithium
hydroxide or an equivalent amount of lithium carbonate annually, representing
around 15% of Europe's projected demand.

 

Alkemy, through its wholly owned Australian subsidiary Port Hedland Lithium,
has secured a 43.7 ha site at the Boodarie strategic industry area, near Port
Hedland, Western Australia to build a world-class sustainable lithium sulphate
refinery that will provide reliable feedstock for Tees Valley Lithium's
refinery.

 

Port Hedland Lithium has completed a Class 4 Feasibility Study for its
proposed lithium sulphate refinery, each train of which will process spodumene
concentrate to produce 40,000 tonnes of lithium sulphate annually.

 

 

Forward Looking Statements

 

This news release contains forward‐looking information. The statements are
based on reasonable assumptions and expectations of management and Alkemy
provides no assurance that actual events will meet management's expectations.
In certain cases, forward‐looking information may be identified by such
terms as "anticipates", "believes", "could", "estimates", "expects", "may",
"shall", "will", or "would". Although Alkemy believes the expectations
expressed in such forward‐looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those projected. In
addition, factors that could cause actual events to differ materially from the
forward-looking information stated herein include changes in market
conditions, changes in metal prices, general economic and political
conditions, environmental risks, and community and non-governmental actions.
Such factors will also affect whether Alkemy will ultimately receive the
benefits anticipated pursuant to relevant agreements. This list is not
exhaustive of the factors that may affect any of the forward‐looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on forward-looking information.

 

 

The Notification of Dealing Form provided in accordance with the requirements
of the Market Abuse Regulation in relation to the transaction listed above is
set out below.

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Sam Quinn

 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                                                         Alkemy Capital Investments PLC

 b)   LEI                                                          213800NW5GVIRMXSRL48

 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

      Identification code                                          GB00BMD6C023

 b)   Nature of the transaction                                    Subscription of shares

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     £1.00             50,000

 d)   Aggregated information

      - Aggregated volume                                          50,000

      - Price                                                      £1

 e)   Date of the transaction                                      18/12/2023

 f)   Place of the transaction                                     Outside a trading venue

 

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