REG - Altona Rare Earths - PDMR Dealings and Issue of Equity

Altona Rare EarthsAnnouncement

10/01/2024 13:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240110:nRSJ2864Za&default-theme=true

RNS Number : 2864Z  Altona Rare Earths PLC  10 January 2024

 

10 January 2024

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

PDMR Dealings and Issue of Equity

 

Altona (LSE: REE), a resource exploration and development company focused on
Rare Earths in Africa, announces that it has issued new ordinary shares to
certain Directors and senior management in lieu of salaries and changes in
contracts. It also announces that it has been notified of an acquisition of
ordinary shares by a Director as detailed below.

 

Notification of PDMR acquisition of shares

In accordance with Article 19 of UK Market Abuse Regulation, the Company was
notified on 9 January 2024 that, Cedric Simonet, CEO, acquired Ordinary Shares
in the Company on 8 and 9 January 2024.

 

 PDMR            Purchase price  Number of Shares Acquired  Total Holding following acquisition of Shares  Percentage Holding following acquisition of Shares and issue of equity
 Cedric Simonet  2.0/2.1 pence   20,000/50,000              925,711                                        1.08%

 

Payments to Directors and Senior Management

The Company has issued 416,373 new ordinary shares of £0.01 each in lieu of
cash salary payments for certain directors and senior management. This was in
accordance with the cash conservation measures agreed, as an ongoing monthly
arrangement, as part of the Company's London Stock Exchange Listing
arrangements. The number of issued shares was calculated by dividing the
amount of quarterly salary or fees to be paid in shares by the volume weighted
average price ("VWAP") of the ordinary shares during the last 10 days of the
calendar period that the services were provided (9 June 2023 - 31 August
2023), being 4.7663 pence per share.

 

The Company has also issued Christian Taylor-Wilkinson with 305,000 ordinary
shares at a price of 5 pence per share, in lieu of cash consideration for
services provided up to 8 June 2023 and a further 800,000 ordinary shares at a
price of 3.125 pence per share in lieu of cash consideration for a change in
contract terms.

 

Of the total number of shares issued, 1,521,373 were issued to PDMRs as shown
in the table below:

 

 PDMR                        Number of Shares Issued  Total Holding following Issue of Shares  Percentage Holding following Issue of Shares
 Martin Wood                 191,594                  1,580,056                                1.84%
 Louise Adrian               105,306                  405,306                                  0.47%
 Christian Taylor-Wilkinson  1,224,473                6,086,844                                7.08%

 

Admission and Total Voting Rights

Application is being made for the new ordinary shares to be admitted to
trading on the Main Market of the London Stock Exchange which is expected to
be on or around 16 January 2024. Following this issue of 1,521,373 shares,
which will rank pari passu with the Company's existing ordinary shares, the
Company's enlarged share capital and total voting rights in the Company will
comprise 85,967,107. The Company has no shares held in Treasury. This figure
of 85,967,107 ordinary shares may be used by shareholders in the Company as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Notification and public disclosure of transactions by Persons Discharging
Managerial Responsibilities (PDMR) and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Christian Taylor-Wilkinson
 2.  Reason for the notification
 a)  Position/status:                                              Business Development Officer
 b)  Initial notification/Amendment:                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Altona Rare Earths Plc
 b)  LEI:                                                          2138002A5GU9BFS2I491
 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 £0.01

Identification code:
ISIN Code: GB00BFZNKV91
 b)  Nature of the transaction:                                     Ordinary Shares issued in lieu of salary
 c)  Price(s) and volume(s):                                       Price(s)    Volume(s)
                                                                   £0.047663   119,473
                                                                   £0.05       305,000
                                                                   £0.03125    800,000
 d)  Aggregated information:                                       Volume 1,224,473

·Aggregated volume:

·Price:
 e)  Date of the transaction:                                      9 January 2024
 f)  Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

·Aggregated volume:

·Price:

Volume 1,224,473

e)

Date of the transaction:

9 January 2024

f)

Place of the transaction:

Outside of a trading venue

 

Responsibilities (PDMR) and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Louise Adrian
 2.  Reason for the notification
 a)  Position/status:                                              Chief Finance Officer
 b)  Initial notification/Amendment:                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Altona Rare Earths Plc
 b)  LEI:                                                          2138002A5GU9BFS2I491
 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 £0.01

Identification code:
ISIN Code: GB00BFZNKV91
 b)  Nature of the transaction:                                     Ordinary Shares issued in lieu of salary
 c)  Price(s) and volume(s):                                       Price(s)    Volume(s)
                                                                   £0.047663   105,306
 d)  Aggregated information:                                       N/A

·Aggregated volume:

·Price:
 e)  Date of the transaction:                                      9 January 2024
 f)  Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

·Aggregated volume:

·Price:

N/A

e)

Date of the transaction:

9 January 2024

f)

Place of the transaction:

Outside of a trading venue

 

Responsibilities (PDMR) and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Martin Wood
 2.  Reason for the notification
 a)  Position/status:                                              Non-Executive Director - Chairman
 b)  Initial notification/Amendment:                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Altona Rare Earths Plc
 b)  LEI:                                                          2138002A5GU9BFS2I491
 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 £0.01

Identification code:
ISIN Code: GB00BFZNKV91
 b)  Nature of the transaction:                                     Ordinary Shares issued in lieu of salary
 c)  Price(s) and volume(s):                                       Price(s)    Volume(s)
                                                                   £0.047663   191,594
 d)  Aggregated information:                                       N/A

·Aggregated volume:

·Price:
 e)  Date of the transaction:                                      9 January 2024
 f)  Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

·Aggregated volume:

·Price:

N/A

e)

Date of the transaction:

9 January 2024

f)

Place of the transaction:

Outside of a trading venue

 

Responsibilities (PDMR) and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Cedric Simonet
 2.  Reason for the notification
 a)  Position/status:                                              Executive Director - CEO
 b)  Initial notification/Amendment:                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Altona Rare Earths Plc
 b)  LEI:                                                          2138002A5GU9BFS2I491
 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 £0.01

Identification code:
ISIN Code: GB00BFZNKV91
 b)  Nature of the transaction:                                     Acquisition of shares in market place
 c)  Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                   £0.021    20,000

                                                                   £0.020    50,000
 d)  Aggregated information:                                       £0.020

·Aggregated volume:

·Price:                                                      70,000
 e)  Date of the transaction:                                      8 and 9 January 2024
 f)  Place of the transaction:                                     London Stock Exchange

d)

Aggregated information:

·Aggregated volume:

·Price:

£0.020

70,000

e)

Date of the transaction:

8 and 9 January 2024

f)

Place of the transaction:

London Stock Exchange

 

-ends-

 

To subscribe for RNS alerts, please visit:
https://www.altonaRE.com/investors/regulatory-news-alerts/
(https://www.altonaRE.com/investors/regulatory-news-alerts/)

 

 

Altona Rare Earths Plc

Cedric Simonet,
CEO
+44 (0) 7778 866 108

Christian Taylor-Wilkinson, Business
Development
+44 (0) 7795 168 157

 

Novum Securities Ltd (Corporate
Finance)
+44 (0) 20 7399 9400

David
Coffman

Daniel Harris

 

Allenby Capital Ltd (Joint
Broker)
+44 (0)20 3328 5656

Kelly Gardiner / Guy McDougall (Sales)

Nick Athanas (Corporate Finance)

 

Optiva Securities (Joint
Broker)
+44 (0) 20 3411 1882

Daniel
Ingram

 

Yellow Jersey PR (Financial
PR)
+44 (0) 20 3004 9512

Sarah Hollins

Annabelle Wills

 

About Altona Rare Earths Plc

 

Altona is a resource exploration and development company focused on Rare
Earths in Africa. The Company is listed on the Main Market of the London Stock
Exchange.

 

Rare Earths are a group of 17 chemical elements, many of which are critical to
the World's on-going transition from carbon-based to renewable energies, and
to the defence and communication sectors.

 

The Company currently focuses on the development of Monte Muambe, its flagship
Magnet Rare Earths Project, located in Northwest Mozambique. The Project was
acquired in June 2021, and the Company has so far drilled over 7,800m, and
defined a maiden JORC Mineral Resource Estimate of 13.6 million tons at 2.42%
TREO.

 

A Competent Person Report including the Scoping Study for Monte Muambe was
published on 18 October 2023 and can be read here:
https://www.altonare.com/investors/reports/
(https://www.altonare.com/investors/reports/)

 

Altona continues to take advantage of its position in Africa to assess other
possible Rare Earths opportunities on the Continent.

 

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
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHURAORSWUAAAR