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RNS Number : 3003M Egdon Resources PLC 13 September 2023
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE
OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION
OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO
RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
RECOMMENDED ACQUISITION OF
EGDON RESOURCES PLC ("Company")
by
PETRICHOR PARTNERS, LP ("Petrichor")
Rule 2.9 Amended Announcement - Relevant Securities in Issue Update
The Company announced that, following the Court sanctioning the Scheme
relating to the recommended cash offer by Petrichor today, an application was
made for admission to trading on AIM ("Admission") of 21,134,000 new ordinary
shares of £0.01 each in the Company ("New Ordinary Shares"). The New Ordinary
Shares will be issued pursuant to the exercise of Options and Warrants in
accordance with proposals made to the holders of those Options and Warrants
pursuant to Rule 15 of the Code, as described in the scheme document published
in relation to the Acquisition (the "Scheme Document") and it was expected
that the New Ordinary Shares were to be admitted to trading at 8am on 13
September 2023.
For administrative reasons, it is now expected that the Admission will take
place at 8am on 14 September 2023. An amended timetable for the Acquisition is
set out in this announcement.
Amended notifications by the PDMRs of the Company in accordance with the UK
Market Abuse Regulation are set out in the Appendix to this announcement.
In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, the
Company announces that, following Admission, it will have 565,367,031 ordinary
shares in issue.
Shareholders in the Company may use this figure as the denominator for the
calculation, by which they would determine if they are required to notify
their interest in, or a change to their interest in, the share capital of the
Company under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.
There are still 26,524,000 outstanding Warrants for the issue of ordinary
shares. These are held by Petrichor and will not be exercised ahead of the
Scheme Effective Date.
Amended Scheme Timetable
The expected amended timetable is set out below:
Scheme Record Time 6.00pm on 14 September 2023
Last day of dealings in, and for registration of transfers of, Egdon Shares 14 September 2023
Effective Date of the Scheme 15 September 2023
Suspension of Dealings 7:30am on 15 September 2023
Last Date for Payment of Consideration to Scheme Shareholders 29 September 2023
The International Securities Identification Number (ISIN) of Egdon's ordinary
shares is GB00B28YML29.
Capitalised terms used in this announcement, unless otherwise defined, have
the same meanings as set out in the Scheme Document, a copy of which is
available, subject to certain restrictions relating to persons in Restricted
Jurisdictions, on the Company's website.
For further information, please contact:
Egdon Resources Plc Tel +44 1256 702292
Mark Abbott
VSA Capital Limited Tel +44 203 005 5000
Financial Adviser, Joint Broker and Rule 3 Adviser to Egdon
Andrew Raca and Matthew Harker (Corporate Finance)
WH Ireland Limited Tel +44 207 220 1666
Nominated Adviser and Joint Broker to Egdon
Antonio Bossi and James Bavister
Appendix
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Mark Abbott
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Egdon Resources Plc
b) LEI 213800WWGH4S9GYSPL77
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
Identification code
GB00B28YML29
b) Nature of the transaction Exercise of Options and Warrants
c) Price(s) and volume(s)
Date Security Exercise Price(s) Volume(s)
14 September 2023 Option £0.0225 4,444,444
14 September 2023 Warrant £0.0250 800,000
d) Aggregated information:
Aggregated volume 5,244,444 Ordinary Shares
Aggregated total £119,999.99
Aggregated price £0.0229
e) Date of the transaction 14 September 2023
f) Place of the transaction London Stock Exchange
d)
Aggregated information:
Aggregated volume
Aggregated total
Aggregated price
5,244,444 Ordinary Shares
£119,999.99
£0.0229
e)
Date of the transaction
14 September 2023
f)
Place of the transaction
London Stock Exchange
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Martin Durham
2 Reason for the notification
a) Position/status Technical Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Egdon Resources Plc
b) LEI 213800WWGH4S9GYSPL77
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
Identification code
GB00B28YML29
b) Nature of the transaction Exercise of Options and Warrants
c) Price(s) and volume(s)
Date Security Exercise Price(s) Volume(s)
14 September 2023 Option £0.0225 3,555,556
14 September 2023 Warrant £0.0250 100,000
d) Aggregated information:
Aggregated volume 3,655,556 Ordinary Shares
Aggregated total £82,500.01
Aggregated price £0.0226
e) Date of the transaction 14 September 2023
f) Place of the transaction London Stock Exchange
d)
Aggregated information:
Aggregated volume
Aggregated total
Aggregated price
3,655,556 Ordinary Shares
£82,500.01
£0.0226
e)
Date of the transaction
14 September 2023
f)
Place of the transaction
London Stock Exchange
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