REG - Firering Strategic - Director/PDMR Shareholding
27/09/2023 08:30
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RNS Number : 8198N Firering Strategic Minerals PLC 27 September 2023
27 September 2023
Firering Strategic Minerals Plc
("Firering", the "Company" or the "Group")
PDMR Subscription
Firering Strategic Minerals Plc (AIM:FRG), an exploration and development
company focusing on strategic minerals, announces that, further to the recent
placing announced on 21 September 2023 (the "Placing"), Youval Rasin
(non-executive chairman), Neil Herbert (senior independent non-executive
director), Yehoshua Shai Kol (chief financial officer) and Vassilios Carellas
(independent non-executive director), have subscribed for, in aggregate,
1,076,922 new ordinary shares of €0.001 each in the Company (the "Ordinary
Shares") at a price of 6.5 pence per Ordinary Share (the "Subscription
Shares"), raising additional cash proceeds of £70,000 (the "PDMR
Subscription"). In total the Placing, which was oversubscribed, together
with the PDMR Subscription, raised £826,000 in aggregate.
Pursuant to MAR, the directors of the Company, together with their related
parties, were not permitted to enter into the subscription agreement until
after publication of the Interim Results, which happened at 700 a.m. today:
https://www.londonstockexchange.com/news-article/FRG/interim-results/16141160
(https://www.londonstockexchange.com/news-article/FRG/interim-results/16141160)
.
Related Party Transaction
The Subscriptions by each of Youval Rasin, Neil Herbert, Yehoshua Shai Kol and
Vassilios Carellas ("Subscribing Directors") constitute related party
transactions under AIM Rule 13 of the AIM Rules for Companies.
Yuval Cohen, the Independent Director for this purpose, having consulted with
the Company's Nominated Adviser, considers the Subscriptions by the
Subscribing Directors to be fair and reasonable insofar as the Company's
shareholders are concerned.
Issue of Equity
30,736 ordinary shares of €0.001 each ("Fee Shares") have been issued, at an
issue price of 8.1 pence per share to certain advisors in settlement of fees
due of £2,500.
Admission and Total Voting Rights
Application will be made to the London Stock Exchange for admission of the
1,076,922 Subscription Shares and 30,376 Fee Shares, making a total of
1,107,298 shares to trading on AIM. It is expected that admission will become
effective and dealings in the Subscription Shares will commence on AIM at 8.00
a.m. on or around 3 October 2023.
The Subscription Shares and Fee Shares have been issued fully paid and will
rank pari passu in all respects with the Company's existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the
Company in issue will be 101,836,699 with voting rights. 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's issued share capital pursuant to the
Company's Articles.
Capitalised terms used but not otherwise defined in this announcement shall
have the meanings ascribed to such terms in the Company's announcement made at
6.33 p.m. on 20 September 2023, unless the context requires otherwise.
Revised shareholdings following Admission
On Admission, the revised shareholdings of the following PDMR's will be:
Name Position Holding of Ordinary Shares % of Enlarged issued share capital
Youval Rasin Non-Executive Chairman 12,994,615 12.76%
Neil Herbert* Senior Independent Non-Executive Director 1,839,986 1.81%
Yehoshua Shai Kol Chief Financial Officer 7,143,846 7.02%
Vassilios Carellas Independent Non-Executive Director 153,846 0.15%
*Shares are held by Cambrian Ltd, a company in which Mr Herbert has a
beneficial interest.
For further information on the Company, please visit www.fireringplc.com
(http://www.fireringplc.com) or contact:
Firering Strategic Minerals Tel: +44 20 7236 1177
Yuval Cohen
Vassilios Carellas
SPARK Advisory Partners Limited Tel: +44 20 3368 3550
Nominated Adviser
Neil Baldwin / James Keeshan / Adam Dawes
Optiva Securities Limited Tel: +44 20 3137 1903
Broker
Christian Dennis / Daniel Ingram
St Brides Partners Limited T: +44 20 7236 1177
Financial PR E: firering (mailto:firering@stbridespartners.co.uk) @stbridespartners.co.uk
(mailto:firering@stbridespartners.co.uk)
Ana Ribeiro / Susie Geliher / Isabelle Morris
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Youval Raisin
2 Reason for the notification
a) Position/status Non-Executive Chairman
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Firering Strategic Minerals PLC
b) LEI 2138005GMF9GR4W9MN36
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 €0.001 each in the share capital of Firering Strategic
Minerals PLC
Identification code
b) Nature of the transaction Subscription for Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
6.5 pence 384,615
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 27 September 2023
f) Place of the transaction AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Neil Herbert
2 Reason for the notification
a) Position/status Senior Independent Non-Executive Director
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Firering Strategic Minerals PLC
b) LEI 2138005GMF9GR4W9MN36
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 €0.001 each in the share capital of Firering Strategic
Minerals PLC
Identification code
b) Nature of the transaction Subscription for Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
6.5 pence 384,615
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 27 September 2023
f) Place of the transaction AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Yehoshua Shai Kol
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Firering Strategic Minerals PLC
b) LEI 2138005GMF9GR4W9MN36
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 €0.001 each in the share capital of Firering Strategic
Minerals PLC
Identification code
b) Nature of the transaction Subscription for Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
6.5 pence 153,846
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 27 September 2023
f) Place of the transaction AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Vassilios Carellas
2 Reason for the notification
a) Position/status Independent Non-Executive Director
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Firering Strategic Minerals PLC
b) LEI 2138005GMF9GR4W9MN36
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 €0.001 each in the share capital of Firering Strategic
Minerals PLC
Identification code
b) Nature of the transaction Subscription for Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
6.5 pence 153,846
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 27 September 2023
f) Place of the transaction AIM
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