REG - East Star Resources - Publication of Prospectus

East Star ResourcesAnnouncement

10/10/2024 12:00

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RNS Number : 7358H  East Star Resources PLC  10 October 2024

10 October 2024

East Star Resources Plc

("East Star" or the "Company")

Publication of Prospectus

 

East Star Resources Plc (LSE:EST), which is exploring for copper in
Kazakhstan, announces it has today published a prospectus (the "Prospectus")
in connection with the issuance of 145,791,220 new ordinary shares of £0.01
each ("Ordinary Shares") in the capital of the Company.

 

As announced on 4 October 2024, the Company raised gross proceeds of
approximately £1.16 million from an oversubscribed subscription for, and
placing of, 100,926,292 new ordinary shares of £0.01 each in the capital of
the Company at a price of 1.15 pence per share ("Fundraise").

 

A copy of the Prospectus has been submitted to the National Storage Mechanism
and will shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) . A copy will also be
made available on East Star's website at: www.eaststarplc.com
(http://www.eaststarplc.com)

 

Additional share issuances

 

In addition to certain directors subscribing for Ordinary Shares as part of
the Fundraise, Sandy Barblett and Anthony Eastman have agreed to be issued
with a total of 1,739,130 new Ordinary Shares in lieu of deferred fees owed to
each of them (the "Fee Shares") which is further testament to their
commitment. The Fee Shares being issued are as follows:

 

 Recipient of Fee Shares  Role                    Number of Fee Shares
 Mr Sandy Barblett        Non-Executive Chair     869,565
 Mr Anthony Eastman       Non-Executive Director  869,565

 

In addition, as announced on 15 July 2024, the balance of 43,125,798
Performance Shares due to be issued to the remaining DVK Vendors (such terms
as defined in the 8 July 2024 announcement), excluding Alex Walker, will be
issued and allotted pursuant to the publication of the Prospectus.

 

All of the above share issuances are conditional inter alia on admission as
defined below.

 

Application to listing and trading

 

Applications will be made for the New Ordinary Shares to be admitted to
trading on the London Exchange ("Admission") and it expected that Admission
will become effective at 8.00 a.m. on 16 October 2024. The expected timetable
of principal events for the Admission is set out below. All references to time
in this announcement are to London time. Any changes to the expected timetable
will be notified by the Company though an RIS.

 

Total Voting Rights

 

The Company hereby notifies the market, in accordance with the FCA's
Disclosure Guidance and Transparency Rule 5.6.1, that on Admission, the
Company's expected issued share capital will consist of 397,515,919 Ordinary
Shares, each with one vote. The Company does not hold any Ordinary Shares in
Treasury. On Admission, the total number of voting rights in the Company is
expected to be 397,515,919 and this figure may be used by Shareholders as the
denominator for the calculations by which they will 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.

 

Unless otherwise defined, capitalised terms used in this announcement shall
have the same meaning as set out in the Prospectus.

 

Expected Timetable of Events

 

 Publication of Prospectus                                                      10 October 2024
 Expected date of admission and commencement of unconditional dealings in the   8.00 a.m. on 16 October 2024
 New Ordinary Shares
 CREST members' accounts credited in respect of the New Ordinary Shares (where  16 October 2024
 appliable)
 Share certificates despatched in respect of the New Ordinary Shares (where     14 days from the date of Admission
 applicable)

 

 

East Star Resources Plc

Alex Walker, Chief Executive Officer

Tel: +44 (0)20 7390 0234 (via Vigo Consulting)

 

SI Capital (Corporate Broker)

Nick Emerson

Tel: +44 (0)1483 413 500

 

Peterhouse Capital Limited (Corporate Broker)

Tel: +44 (0) 20 7469 0930

 

Vigo Consulting (Investor Relations)

Ben Simons / Peter Jacob

Tel: +44 (0)20 7390 0234

 

About East Star Resources Plc

 

East Star Resources is focused on the discovery and development of copper and
other strategic minerals required for the energy revolution. With eight
licences covering >1,000 km² in three mineral rich districts
of Kazakhstan, East Star is undertaking an intensive exploration programme,
applying modern geophysics to discover minerals in levels that were not
previously explored. East Star's most advanced project is a copper deposit on
the world-class Rudny Altai VMS Belt where the Company delivered a JORC
compliant inferred resource of 20.3Mt @ 1.16% copper, 1.54% zinc and 0.27%
lead close to infrastructure, within trucking distance of third-party mills
with excess capacity. East Star's management are based permanently on the
ground, supported by local expertise, and a joint venture with the state
mining company on certain projects. In 2024, East Star was selected to receive
grant funding through the BHP Xplor programme for copper porphyry exploration.

 

Visit our website:

www.eaststarplc.com (http://www.eaststarplc.com)

 

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/east-star-resources/
(https://www.linkedin.com/company/east-star-resources/)

 

X (formerly Twitter): https://x.com/EastStar_PLC (https://x.com/EastStar_PLC)

 

Subscribe to our email alert service to be notified whenever East Star
releases news:

www.eaststarplc.com/newsalerts (http://www.eaststarplc.com/newsalerts)

 

The person who arranged for the release of this announcement was Alex Walker,
CEO of the Company.

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market
Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the
publication of this announcement, this inside information (as defined in UK
MAR) is now considered to be in the public domain.

 

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