REG - Arkle Resources PLC - Placing to raise £500,000

Arkle ResourcesAnnouncement

30/07/2025 07:00

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RNS Number : 0747T  Arkle Resources PLC  30 July 2025

30 July 2025

 

Arkle Resources PLC

("Arkle" or the "Company")

 

Placing to raise £500,000

 

Highlights

 

·    Arkle raises £500,000 at 0.3 pence per share through the issue of
166,666,667 new ordinary shares

·    Placing at a significant premium of 28%

 

 

Arkle Resources (AIM: ARK) is pleased to announce that it has raised £500,000
in a private placing with existing and new shareholders in the United Kingdom
and Ireland at a price of 0.3p per share (the "Placing Price") through the
issue of 166,666,667 new ordinary shares ("Placing Shares") (the "Placing").
Each Placing Share has one warrant attached with the right to subscribe for
one new ordinary share at 0.3p for a period of two years ("Warrants"). The
Placing Price represents a premium of 28% on the closing price the day prior
to this announcement.

 

The funds will be used to help develop Arkle's two areas of activity, base
metals, particularly zinc in Ireland and lithium / magnesium in Botswana.

 

Arkle's principal Irish asset, the Stonepark zinc discovery (5m tonnes plus),
has seen recent drilling activity. The Company's partner, Group Eleven
Resources Corp. ("Group Eleven"), identified what it believes is one of the
most prospective targets in Ireland in the Carrickittle area of the block.
This will be drilled later this year when the current Group Eleven Ballywire
drilling programme pauses. Ballywire is on the same trend as Carrickittle.
High grade zinc results are being reported by Group Eleven which has three
drill rigs working at the site.

 

At Arkle's second main area of activity, its lithium brines in Botswana, a
detailed drilling programme is being planned for the coming months. Lithium is
vital for future climate control. Arkle has 1,612sq km of ground and has
identified lithium and magnesium. Applying Direct Lithium Extraction (DLE) to
the brines recovers both magnesium and lithium. This technique is potentially
more efficient, environmentally friendly and cost effective than traditional
extraction methods.

 

John Teeling, Chairman of Arkle, commented: "We are delighted to welcome new
shareholders who see the potential in Arkle which our loyal shareholders have
seen and supported over the years. We raised money at above the market price
and had to refuse some investment to avoid further dilution.

 

"Irish zinc is looking increasingly attractive to investors. High prices and
good exploration results in a stable environment is a powerful combination.

 

"Lithium and magnesium are vital metals for the future and we believe the
future is in brines. We are fortunate to have excellent ground in a stable
location. Evolving DLE technology is expected to have a massive impact on
viability. All in all, we are well placed."

 

DIRECTOR PARTICIPATION

 

John Teeling and David Cockbill, 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    8,333,333               60,280,535     8.24
 David Cockbill  8,333,333               26,768,741     3.80

 

Mr Teeling and Mr Cockbill have also been issued with 8,333,333 Warrants each.

 

RELATED PARTY TRANSACTION

The participation of John Teeling and David Cockbill in the Placing (including
the issue of Warrants) 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 James Finn) 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 Cockbill 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 6 August 2025.

 

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 731,477,664 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                        +44 (0) 203 470 0470
 Adam Cowl

 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
 Molly Mooney

 

Dealings by Persons Discharging Managerial Responsibilities

 

  1   Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1)    John Teeling

                                                                   2)    David Cockbill
 2    Reason for the notification

 a)   Position/status                                              1)    Chairman

                                                                   2)    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                               0.3p   8,333,333

                 David Cockbill                             0.3p   8,333,333

 

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price                                                      0.3 pence

 e)   Date of the transaction                                      30 July 2025

 f)   Place of the transaction                                     Off-market

 

 

 

 

 

 

 

 

 

 

 

 

 

d)

 

Aggregated information

- Aggregated volume

N/A

- Price

0.3 pence

e)

 

Date of the transaction

30 July 2025

f)

 

Place of the transaction

Off-market

 

 

  1   Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1)    John Teeling

                                                                   2)    David Cockbill
 2    Reason for the notification

 a)   Position/status                                              1)    Chairman

                                                                   2)    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                                    Issue of Warrants

 c)   Price(s) and volume(s)

Director                                   Price  Volume

                                                                                     John Teeling                               0.3p   8,333,333

                 David Cockbill                             0.3p   8,333,333

 

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price                                                      0.3 pence

 e)   Date of the transaction                                      30 July 2025

 f)   Place of the transaction                                     Off-market

 

 

 

 

 

 

 

 

 

 

 

 

 

d)

 

Aggregated information

- Aggregated volume

N/A

- Price

0.3 pence

e)

 

Date of the transaction

30 July 2025

f)

 

Place of the transaction

Off-market

 

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