REG - Firering Strategic - Directors’ Subscriptions; Issue of Equity

Firering Strategic MineralsAnnouncement

28/06/2024 07:00

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RNS Number : 2419U  Firering Strategic Minerals PLC  28 June 2024

 Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

28 June 2024

Firering Strategic Minerals Plc

("Firering", the "Company" or the "Group")

 

Directors' Subscriptions; Issue of Equity

 

Firering Strategic Minerals Plc (AIM:FRG), an exploration and development
company focusing on strategic minerals, announces that, further to the recent
Placing and Subscription announced on 28 May 2024, Youval Rasin (non-executive
chairman), Yehoshua Shai Kol (chief financial officer), Remy Welschinger
(independent non-executive director) and Vassilios Carellas (independent
non-executive director) (together the "Subscribing Directors"), have
subscribed for, in aggregate, 7,931,035 new ordinary shares of €0.001 each
in the Company (the "Ordinary Shares") at a price of 2.9 pence per Ordinary
Share (the "Director Subscription Shares"), raising additional gross cash
proceeds of £230,000 ("the Directors' Subscriptions").  In total, the
Placing, the Subscription and the WRAP Retail Offer, together with the
Directors' Subscriptions, raised £2.319 million (gross).

 

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 Final Results, which took place at 700 a.m. on 27
June 2024: https://bit.ly/3ztei6x (https://bit.ly/3ztei6x) .

 

Related Party Transactions

The Subscriptions by each of Youval Rasin, Yehoshua Shai Kol, Remy Welschinger
and Vassilios Carellas 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 terms of the subscriptions by
the Subscribing Directors to be fair and reasonable insofar as the Company's
shareholders are concerned.

 

Issue of Equity

1,986,349 Ordinary Shares ("Fee Shares") have been issued, at an issue price
of 2.9 pence per share to certain advisors and suppliers to the Company in
settlement of fees due of £57,604.

 

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the
7,931,035 Subscription Shares and 1,986,349 Fee Shares, making a total of
9,917,384 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 4 July 2024.

 

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 183,791,532 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
4.33 p.m. on 28 May 2024, 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              16,442,891                  8.95%
 Yehoshua Shai Kol   Chief Financial Officer             8,867,984                   4.83%
 Vassilios Carellas  Independent Non-Executive Director  1,188,329                   0.65%
 Remy Welschinger    Independent Non-Executive Director  2,689,138                   1.46%
 Yuval Cohen         Chief Executive Officer             2,067,000                   1.12%

 

 

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

 SPARK Advisory Partners Limited (Nominated Adviser)  T: +44 20 3368 3550

 Neil Baldwin / James Keeshan / Adam Dawes
 Optiva Securities Limited (Joint Broker)             T: +44 20 3137 1903

 Christian Dennis / Daniel Ingram
 Shard Capital Partners LLP (Joint Broker)            T: 020 7186 9950

 Damon Heath / Erik Woolgar
 St Brides Partners Limited (Financial PR)            E: firering (mailto:firering) @stbridespartners.co.uk

                                                    (mailto:firering@stbridespartners.co.uk)
 Isabel de Salis / 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                                                          213800WAVVOPS85N2205 (https://www.lei-lookup.com/record/213800WAVVOPS85N2205/)

 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)
                                                                                         2.9 pence             3,448,276

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price

 e)   Date of the transaction                                      27 June 2024

 f)   Place of the transaction                                     Outside a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name

                                                                   Remy Welschinger

 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                                                          213800WAVVOPS85N2205 (https://www.lei-lookup.com/record/213800WAVVOPS85N2205/)

 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)
                                                                                         2.9 pence             1,724,138

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price

 e)   Date of the transaction                                      27 June 2024

 f)   Place of the transaction                                     Outside a trading venue

 

 

 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                                                          213800WAVVOPS85N2205 (https://www.lei-lookup.com/record/213800WAVVOPS85N2205/)

 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)
                                                                                         2.9 pence             1,724,138

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price

 e)   Date of the transaction                                      27 June 2024

 f)   Place of the transaction                                     Outside a trading venue

 

 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                                                          213800WAVVOPS85N2205 (https://www.lei-lookup.com/record/213800WAVVOPS85N2205/)

 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)
                                                                                         2.9 pence             1,034,483

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price

 e)   Date of the transaction                                      27 June 2024

 f)   Place of the transaction                                     Outside a trading venue

 

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