REG - Arc Minerals Limited - Change of Accounting Reference Date

ARC MineralsAnnouncement

23/02/2021 07:00

RNS Number : 9627P
  
Arc Minerals Limited
  
23 February 2021
  
 

23 February 2021
Arc Minerals Ltd 
('Arc' or the 'Company' or the 'Group')
Change of Accounting Reference Date
Arc Minerals Ltd announces that the Board has decided to change the Company's Accounting Reference Date ("ARD") from 31 March to 31 December, which aligns the ARD to the operations of the Group. The decision was made after consulting with the Company's Auditors and Nominated Advisor. Accordingly, the next Annual Report and Accounts of the Group will be prepared for the nine-month period 1 April to 31 December 2020, will be due for publishing by 30 June 2021. The Group's interim accounts for the six months ended 30 June 2021 will be published by 30 September 2021.
 
Issue of Option Shares and Consideration Shares 
 
The Company further announces that it received notice dated 21 February 2021 from a former director of the Company to exercise options over a total of 1,200,000 new Ordinary Shares of no par value in the share capital of the Company (the "Option Shares") at a price of 4.5 pence per share. Accordingly, the Company preparing to issue the Option Shares for an aggregate cash consideration of £54,000.
 
The Company has also issued 1,200,000 new Ordinary Shares of no par value in the share capital of the Company to a service provider for consulting services rendered to the Company ("Consideration Shares").
 
Application has been made to the London Stock Exchange plc for the 1,200,000 Option Shares and 1,200,000 Consideration Shares (together, "New Ordinary Shares") to be admitted to trading on AIM ("Admission") with Admission expected to occur on or around 26 February 2021. The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares including the right to receive any dividend or other distribution thereafter declared, made or paid. There are no Ordinary Shares held in treasury. Following Admission of the 2,400,000 New Ordinary Shares the total number of voting rights in the Company will be 1,047,464,936.
Block Listing Application
 
Further to the block admission application as announced on 21 September 2020, the Company announces that an application has been made to the London Stock Exchange for an additional block admission of up to 188,066,381 ordinary shares of no par value in the Company (the "Block Admission Shares") to be admitted to trading on AIM (the "Block Admission") in connection with certain existing warrants over ordinary shares granted by the Company according to the below table. It is expected that the Block Admission will occur on or around 26 February 2021.
 




Number of Warrants


 


Exercise
Price


 


Expiration
Date




56,674,971


 


3.00 pence


 


17 Jun 2022




337,500


 


4.00 pence


 


09 Nov 2021




1,789,000


 


4.50 pence


 


01 Apr 2021




63,600,009


 


4.50 pence


 


19 Feb 2022




10,000,000


 


4.50 pence


 


01 Jul 2022




5,764,887


 


4.50 pence


 


17 Jun 2024




5,500,000


 


4.50 pence


 


04 Dec 2024




44,400,014


 


6.50 pence


 


10 Oct 2021




188,066,381


 


 


 


 




 
The New Ordinary Shares may be issued from time-to-time pursuant to the exercise of existing warrants. If and when issued, the New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of the Company.
 
The Company will make six-monthly announcements regarding the utilisation of the block admission.
 
The total number of warrants over ordinary shares of the Company that are outstanding as at the date of this announcement, including the warrants listed in the table above, is 220,454,815.
 
For more information visit www.arcminerals.com.
Market Abuse Regulation (MAR) Disclosure 
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
Contacts




Arc Minerals Ltd
Nick von Schirnding (Chairman)
 


+44 (0) 20 7917 2942
 




SP Angel (Nominated Adviser & Joint Broker)
Ewan Leggat / Adam Cowl
 


+44 (0) 20 3470 0470
 




WH Ireland Limited (Joint Broker)
Harry Ansell / Katy Mitchell
 


+44 (0) 20 7220 1666
 




 

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