Placing, Subscription and CLN to raise £330,000
23/05/2023 07:00
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RNS Number : 2638A URA Holdings PLC 23 May 2023
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DISTRIBUTE THIS ANNOUNCEMENT.
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) REGULATIIONS (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.
URA Holdings plc
('URA' or 'the Company')
Placing and Subscription to raise £280,000 in ordinary shares and £50,000 by
way of a convertible loan note (the "Fundraise")
URA is pleased to announce that it has raised £280,000 (before expenses)
through a placing and subscription, issuing in aggregate 14,000,000 new
ordinary shares in the capital of the Company ("New Ordinary Shares") at an
issue price of 2p per New Ordinary Share. The placing and subscription
elements of the Fundraise were oversubscribed and were limited by the maximum
amount the Company can currently place within its existing disapplication of
pre-emption rights authority.
In addition, the Company has also raised £50,000 by way of a convertible loan
note (the "CLN") with Austin Acquisitions 1 Limited that will convert
automatically following the next annual general meeting ("AGM") of the Company
(expected to be held on or before 30 June 2023) subject to the approval by
shareholders at the AGM of a resolution to disapply pre-emption rights in
respect of the shares to be issued on conversion of the CLN . The CLN was
utilised to allow additional new investors to participate in the overall
Fundraise, which the Board considered an important development in diversifying
the Company's shareholder base and facilitating participation by new
investors.
The Fundraise was conducted at a 10% discount to the mid-market closing price
on 19 May 2023 and is within the existing authority to issue shares for cash
on a non pre-emptive basis.
The proceeds of the Fundraise will be used to place orders for critical
equipment required for the restart of mining operations at the Gravelotte
Emerald Mine and for general working capital. The main item that will be
ordered is the Tomra optical sorter that needs to be custom manufactured in
Germany to the specification required based on test work already conducted on
material from the Gravelotte mine. The new equipment will take some time to
manufacture and commission but will then enable the Company to bring
Gravelotte quickly back into production.
Ed Nealon, Chairman of URA Holdings Plc commented:-
"I am pleased to announce a successful Fundraise which has been oversubscribed
in difficult market conditions. We welcome the participation of new
shareholders and participation in the CLN by Austin Acquisitions 1 Limited, a
personal investment company of Mr Andrew Austin, which we believe speaks
highly of confidence in our strategy and plans. We look forward to progressing
into the next phase of mine development to bring forward our planned early
move back into production. We remain extremely excited for the future of the
Company."
Additional information
CLN
Austin Acquisitions 1 Limited have subscribed for £50,000 of CLNs convertible
into ordinary shares in the Company. The CLNs are convertible at £0.02 per
share into 2,500,000 ordinary shares and will be converted automatically
immediately following the next AGM of the Company (expected to be held on or
before 30 June 2023 subject to the approval by shareholders resolution to
disapply pre-emption rights in respect of the shares to be issued on
conversion of the CLN.. In the event that such resolution is not approved by
shareholders, the CLN will be immediately repayable and carry interest at a
rate of 15% per annum from the date of issue, if no conversion takes place
before 30 June 2023. The CLN will be non-interest bearing in the event that
conversion occurs following shareholder approval.
Application for Admission
Application will be made for the Placing and Subscription Shares to be
admitted to trading on the Main Market of the London Stock Exchange. It is
expected that admission will become effective on 29 May 2023.
The New Ordinary Shares will, on admission, rank pari passu in all respects
with the ordinary shares currently in issue and will rank in full for all
dividends and other distributions hereafter declared, paid or made on the
ordinary share capital of the Company.
Total Voting Rights
Following the issue of the New Ordinary Shares, the Company will have
155,845,590ordinary shares in issue, each share carrying the right to one
vote.
This figure of 155,845,590 ordinary shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's Guidance
Disclosure and Transparency Rules.
-Ends-
URA Holdings plc +44 (0)746 368 6497
CEO
Bernard Olivier
COO
Jeremy Sturgess-Smith
info@uraholdingsplc.co.uk (about:blank)
Peterhouse Capital Limited +44 (0)20 7469 0930
Corporate Broker
Lucy Williams
Duncan Vasey
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 Edward Nealon
2 Reason for the notification
a) Position/status Chairman
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer, or auction monitor
a) Name URA Holdings plc
b) LEI 213800U6Z250COBY7781
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
Identification code Ordinary Shares
ISIN: GB00BD2B4T80
b) Nature of the transaction Subscription for ordinary shares
c) Price(s) and volume(s) 2,825,000 Ordinary Shares at £0.02 per share
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 22 May 2023
f) Place of the transaction Off Market
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 Peter Redmond
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer, or auction monitor
a) Name URA Holdings plc
b) LEI 213800U6Z250COBY7781
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
Identification code Ordinary Shares
ISIN: GB00BD2B4T80
b) Nature of the transaction Subscription for ordinary shares
c) Price(s) and volume(s) 750,000 Ordinary Shares at £0.02 per share
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 22 May 2023
f) Place of the transaction Off Market
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