REG - Arkle Resources PLC - Placing to Raise £215,000

Arkle ResourcesAnnouncement

16/11/2023 07:00

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RNS Number : 6060T  Arkle Resources PLC  16 November 2023

 

 

16 November 2023

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Placing to Raise £215,000

 

Arkle Resources PLC (AIM:ARK), the Irish Gold and Zinc resources discovery
company, is pleased to announce that it has raised £215,000 (before expenses)
through a placing of 61,428,571 new ordinary shares at a price of 0.35p per
share (the "Placing Shares") (the "Placing"). Each Placing Share has one
warrant attached with the right to subscribe for one new ordinary share at
0.35p for a period of two years.

 

USE OF FUNDS

The net funds received from the Placing will be used for the recently
announced Lithium exploration programme as well as for general corporate
activities.

 

DIRECTOR PARTICIPATION

John Teeling and James Finn, both directors of the Company, have participated
in the Placing on the same terms as described above as follows:

 

               No. of Placing          Resultant      % of enlarged

               Shares subscribed for   shareholding   share capital
 John Teeling  28,571,429              41,947,202     9.18
 James Finn    14,285,714              28,349,241     6.21

 

 

 

RELATED PARTY TRANSACTION

The participation of John Teeling and James Finn in the Placing is a related
party transaction for the purposes of AIM Rule 13 of the AIM Rules for
Companies. The Director independent of the Placing (being David Cockbill)
considers, having consulted with SP Angel Corporate Finance LLP, the Company's
Nominated Adviser, that the participation in the Placing by Mr Teeling and Mr
Finn is fair and reasonable in so far as Arkle's shareholders are concerned.

 

ADMISSION AND TOTAL VOTING RIGHTS

An application will be made to the London Stock Exchange for the Placing
Shares to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and that dealings in the Placing Shares on AIM
will commence on or around 23 November 2023.

 

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the
Company confirms that on completion of the Placing and following Admission,
the Company's enlarged issued ordinary share capital
will comprise 456,810,997 Ordinary Shares.

 

The Company does not hold any Ordinary Shares 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.

 

Market Abuse Regulation (MAR) Disclosure

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

 

ENDS

 

Enquiries:

 

 Arkle Resources PLC
 John Teeling, Chairman                  +353 (0) 1 833 2833
 Jim Finn, Finance Director             +353 (0) 1 833 2833

 SP Angel Corporate Finance LLP

Nominated Adviser & Joint Broker
 Matthew Johnson/ Adam Cowl               +44 (0) 203 470 0470

 First Equity Limited
 Joint Broker
 Jason Robertson                          +44 (0) 207 374 2212

 BlytheRay                                +44 (0) 207 138 3204
 Megan Ray

 Teneo
 Luke Hogg                                +353 (0) 1 661 4055

 

Dealings by Persons Discharging Managerial Responsibilities

 

  1   Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1)    John Teeling

                                                                   2)    James Finn
 2    Reason for the notification

 a)   Position/status                                              1)    Chairman

                                                                   2)    Finance Director
 b)   Initial notification /Amendment                               Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                          Arkle Resources plc

 b)   LEI                                                          213800CTOO8MOLMNEQ44

 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 €0.0025 each.

      Identification code                                          ISIN: IE00B2357X72

 b)   Nature of the transaction                                    Participation in Placing

 c)   Price(s) and volume(s)

Director                                    Price  Volume

                                                                                     John Teeling                                0.35p  28,571,429

                 James Finn                                  0.35p  14,285,714

 

 d)   Aggregated information

      - Aggregated volume                                          42,857,139

      - Price                                                      0.35 pence

 e)   Date of the transaction                                      15 November 2023

 f)   Place of the transaction                                     Off-market

 

 

 

 

 

 

 

 

 

 

 

 

 

d)

 

Aggregated information

- Aggregated volume

42,857,139

- Price

0.35 pence

e)

 

Date of the transaction

15 November 2023

f)

 

Place of the transaction

Off-market

 

  1   Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         3)    John Teeling

                                                                   4)    James Finn
 2    Reason for the notification

 a)   Position/status                                              3)    Chairman

                                                                   4)    Finance Director
 b)   Initial notification /Amendment                               Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                          Arkle Resources plc

 b)   LEI                                                          213800CTOO8MOLMNEQ44

 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 €0.0025 each.

      Identification code                                          ISIN: IE00B2357X72

 b)   Nature of the transaction                                    Granting of warrants

 c)   Price(s) and volume(s)

Director                                    Price  Volume

                                                                                     John Teeling                                0.35p  28,571,429

                 James Finn                                  0.35p  14,285,714

 

 d)   Aggregated information

      - Aggregated volume                                          42,857,139

      - Price                                                      0.35 pence

 e)   Date of the transaction                                      15 November 2023

 f)   Place of the transaction                                     Off-market

 

 

 

 

 

 

 

 

 

 

 

 

 

d)

 

Aggregated information

- Aggregated volume

42,857,139

- Price

0.35 pence

e)

 

Date of the transaction

15 November 2023

f)

 

Place of the transaction

Off-market

 

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