REG - Harena Resources PLC - Update in relation to Fundraising

Harena ResourcesAnnouncement

12/08/2025 07:00

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RNS Number : 8856U  Harena Resources PLC  12 August 2025

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (TOGETHER THIS
"ANNOUNCEMENT"), IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA,
CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS
(AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS
CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME
AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION
OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF
INSIDE INFORMATION.

 

12 August 2025

 

Harena Resources Plc

("Harena" or the "Company")

 

Update in relation to Fundraising

 

Oversubscribed Subscription to raise £0.18M in addition to the £1.05M
recently raised

 

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 has raised further gross
proceeds of approximately £0.18 million at the Issue Price through a
oversubscribed Subscription of 12,100,000 new Ordinary Shares (the
"Subscription Shares") with certain institutional and professional investors,
conditional on Admission (as defined below).

 

The Subscription has been undertaken at the Issue Price of 1.5 pence per new
Ordinary Share and on the same terms as the Placing announced by the Company
on 4 August 2025 (the "Fundraising Announcement"). In total the Placing and
the Subscription has raised gross proceeds of approximately £1.23 million.

 

It is intended that the net proceeds of the Subscription will be deployed by
the Company for the same purposes as that of the Placing as detailed in the
Company's announcement on 31 July 2025.

 

Admission

 

Applications have been made: (i) to the UK's Financial Conduct Authority (the
"FCA") for the admission of the 12,100,000  Subscription Shares to trading on
the equity shares (transition) category of the Official List of the FCA; and
(ii) to trading on the London Stock Exchange for the admission of the
12,100,000 Subscription Shares to trading on its main market for listed
securities (together, "Admission"). Admission is expected to take place on
8.00 a.m. on or around 18 August 2025.

 

Total voting rights

 

Immediately following Admission, the Company will have 495,984,352 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 495,984,352 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.

 

Warrants

 

In line with the Company's announcement on 31 July 2025, the Company has
conditionally agreed to issue a further 5,000,000 Fee Warrants to Ivan Murphy
and Paul Richards for their services in respect of the Subscription. The Fee
Warrants are exercisable at 3 pence for a period of five years from the date
of Admission. The Fee Warrants are not subject to any vesting conditions. The
Fee Warrants will not be admitted to trading on the London Stock Exchange or
any other stock exchange. Consequently, a total of 40,000,000 Fee Warrants and
40,000,000 Performance Warrants have been issued to date.

 

The FCA notification in respect of these director dealings, made in accordance
with the requirements of UK MAR, is appended further below.

 

Unless otherwise defined, definitions contained in this Announcement have the
same meaning as set out in the Fundraising Announcement.

 

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 75%). 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.

 

This Announcement is made in accordance with the Company's obligations under
Article 17 of UK MAR and the person responsible for arranging for the release
of this Announcement on behalf of Harena is Allan Mulligan, Executive
Technical Director.

 

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
                                                                      Ivan Murphy    Non-Executive Chairman
                                                                      Paul Richards  Non-Executive Director

 

 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                                      Warrants over Ordinary Shares
 c)    Price(s) and volume(s)                                         Name           Warrants      Price(s)  Volume(s)

                                                                                     (p)
                                                                      Ivan Murphy    Fee Warrants  3.0       2,500,000
                                                                      Paul Richards  Fee Warrants  3.0       2,500,000

 
 d)    Aggregated information:                                        N/A

       -      Aggregated volume

       -      Price
 e)    Date of the transaction                                        12 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

Warrants over Ordinary Shares

c)

Price(s) and volume(s)

 Name           Warrants      Price(s)  Volume(s)

                              (p)
 Ivan Murphy    Fee Warrants  3.0       2,500,000
 Paul Richards  Fee Warrants  3.0       2,500,000

 

d)

Aggregated information:

-      Aggregated volume

-      Price

N/A

e)

Date of the transaction

12 August 2025

f)

Place of the transaction

London Stock Exchange, XLON

 

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