REG - Harena Resources PLC - 100% ownership of Ampasindava and issue of shares

Harena ResourcesAnnouncement

28/08/2025 12:30

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RNS Number : 0871X  Harena Resources PLC  28 August 2025

28 August 2025

 

Harena Resources Plc

("Harena" or the "Company")

 

100% ownership of Ampasindava Project

and issue of shares

 

Harena Resources Plc (LSE: HREE), the rare earths company focused on the
Ampasindava ionic clay rare earth project in Madagascar (the "Ampasindava
Project"), is pleased to announce that the Company now owns 100 per cent. of
the Ampasindava Project. This follows the completion of the commercial process
to acquire the remaining 25 per cent. as referred to in the Company's
prospectus published on 26 February 2025 (the "Prospectus").

 

This has triggered the issue of 66,666,666 new ordinary shares of 0.5 pence
each in the share capital of the Company ("Performance Shares") to the vendor
shareholders of Harena Resources Pty Ltd (the intermediate holding company for
the Ampasindava Project) when it was acquired by the Company. Further details
of the Performance Shares and the persons to whom they are being issued are
set out in the Prospectus.

 

Ivan Murphy, Non-Executive Chairman of Harena, said:

 

"We are pleased to now control 100 per cent. of this strategically important,
world class, heavy rare earth project and we look forward to moving forward
towards production."

 

As a result of the issue of Performance Shares, on Admission (as defined
below) the shareholdings of certain directors/PDMRs and significant
shareholders will be as follows:

 

 Concert Party Member  Position       No. of Performance Shares issued  Total shareholding on Admission  Percentage of enlarged share capital on Admission
 Allan Mulligan        Director/PDMR  13,382,166                        49,703,564                       8.83%
 Joseph Belladonna     PDMR           1,700,457                         10,400,278                       1.85%
 Sebastian Jurd        Shareholder    11,528,214                        52,412,344                       9.32%
 Trevor Bruce Benson   Shareholder    5,406,583                         18,561,615                       3.30%
 Stephen Francis Lynn  Shareholder    7,272,727                         25,995,107                       4.62%
 Edward Nealon         Shareholder    4,436,450                         18,653,469                       3.32%

 

The FCA notification in respect of the issue of the Performance Shares to
directors/PDMRs, made in accordance with the requirements of UK MAR, is
appended further below.

 

Admission

 

Applications have been made: (i) to the Financial Conduct Authority (the
"FCA") for the admission of the 66,666,666 Performance Shares to trading on
the equity shares (transition) category of the Official List of the FCA; and
(ii) to the London Stock Exchange for the admission of the 66,666,666
Performance Shares to trading on its main market for listed securities
(together, "Admission"). Admission is expected to take place at 8.00 a.m. on
or around 4 September 2025.

 

Total voting rights

 

Immediately following Admission, the Company will have 562,651,018 ordinary
shares of 0.5 pence each in issue, each with one voting right. There are no
shares held in treasury. Therefore, the Company's total number of ordinary
shares in issue and voting rights will be 562,651,018 and this figure may be
used by shareholders from Admission 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.

 

For further information please contact:

 

 Harena Resources Plc

 Ivan Murphy, Non-Executive Chairman                              +44 (0)20 7770 6424

 Allan Mulligan, Executive Technical Director

 Allenby Capital Limited - Financial Adviser & Joint Broker       +44 (0)20 3328 5656

 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)               info@allenbycapital.com (mailto:info@allenbycapital.com)

 Amrit Nahal / Kelly Gardiner (Sales & Corporate Broking)

 Tavira Financial Limited - Joint Broker

 Jonathan Evans / Oliver Stansfield                               +44 (0)20 7330 1833

 Celicourt Communications - Public Relations                      44 (0)20 7770 6424   celicourt@celicourt.uk (mailto:celicourt@celicourt.uk)

 Mark Antelme / Charles Denley-Myerson

 

Notes to editors

 

Harena (www.harenaresources.com.au (http://www.harenaresources.com.au) ) is a
rare earths exploration and development company focused on the Ampasindava
Ionic Clay Rare Earth Project in Madagascar (Harena's interest is 100%). The
project hosts one of the largest ionic clay rare earth deposits outside of
China, with significant concentrations of high-value magnet metals. Harena is
committed to low-impact, high recovery mining, providing a sustainable supply
of critical minerals for the global energy transition and military defence
industries. Forward-Looking Statements This announcement contains
forward-looking statements that involve risks and uncertainties. Actual
results may differ materially from those expressed or implied in such
statements.

 

Director/PDMR MAR disclosures

 

The following notification, made in accordance with the requirements of the UK
Market Abuse Regulation, gives further details.

 

 1     Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name

Name               Position
                                                                      Allan Mulligan     Executive Technical Director
                                                                      Timothy Morrison   Non-Executive Director
                                                                      Joseph Belladonna  PDMR

 

 2     Reason for the notification
 a)    Position/status                                                See above

 b)    Initial notification /Amendment                                Initial notification
 3     Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                           Harena Resources Plc
 b)    LEI                                                            213800TNHZOA4JIZK687
 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 0.5p each in Harena Resources Plc ("Ordinary Shares")

       Identification code

                                                                      Identification code (ISIN) for Harena Resources Plc ordinary shares:
                                                                      GB00BMGRFP88
 b)    Nature of the transaction                                      Issue of Performance Shares
 c)    Price(s) and volume(s)                                         Name               No. of Performance Shares  Price(s)

                                                                                             (p)
                                                                      Allan Mulligan     13,382,166                 3
                                                                      Timothy Morrison   837,148                    3
                                                                      Joseph Belladonna  1,700,457                  3

 
 d)    Aggregated information:                                        N/A

       -      Aggregated volume

       -      Price
 e)    Date of the transaction                                        28 August 2025
 f)    Place of the transaction                                       London Stock Exchange, XLON

 

 

2

Reason for the notification

a)

Position/status

See above

 

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

Harena Resources Plc

b)

LEI

213800TNHZOA4JIZK687

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 of 0.5p each in Harena Resources Plc ("Ordinary Shares")

 

Identification code (ISIN) for Harena Resources Plc ordinary shares:
GB00BMGRFP88

b)

Nature of the transaction

Issue of Performance Shares

c)

Price(s) and volume(s)

 Name               No. of Performance Shares  Price(s)

                                               (p)
 Allan Mulligan     13,382,166                 3
 Timothy Morrison   837,148                    3
 Joseph Belladonna  1,700,457                  3

 

d)

Aggregated information:

-      Aggregated volume

-      Price

N/A

e)

Date of the transaction

28 August 2025

f)

Place of the transaction

London Stock Exchange, XLON

 

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