Issue of Equity

IMC Exploration

04/04/2025 16:30

Award of New Ordinary Shares In Lieu of Monetary Compensation

IMC Exploration Group plc ("IMC" or the "Company") announces that the Board of Directors has resolved to issue as follows, in lieu of monetary remuneration, an aggregate of 13,800,000 new ordinary shares of €0.001 each in the capital of the Company at a price of 0.53 pence Sterling per share (the "Remuneration Shares"), being the mid-market closing price of the Company's shares on 3rd April 2025 on the main market of the London Stock Exchange. 

This issue of the Remuneration Shares relates to introductory and professional services fees related compensation and includes 1,000,000 shares each issued to the newly appointed directors appointed in March 2024:

Allottee
Position
No. of Remuneration Shares
Vahagn Marukhyan:
Director & Chief Financial Officer
1,000,000
Gagik Gevorgyan
Director & Senior Geologist
1,000,000
Introductory & Professional
Services Fees (non PDMR)
11,800,000
Total
13,800,000


Application shall be made to the Financial Conduct Authority ("FCA") for the Remuneration Shares, which rank pari passu in all respects with the Company's existing ordinary shares in issue, to be admitted to the standard segment of the FCA's Official List and to the London Stock Exchange for admission to trading on the main market (together, "Admission").  Admission is expected to occur on or around 14 April 2025.

Directors' and Other Notifiable Interests

Prior to the allotment and Admission of the Remuneration Shares, neither Vahagn Marukhyan, CFO, or Gagik Gevorgyan held any shares in the Company.  Further information regarding the shares issued to the two directors is included below, in accordance with EU Market Abuse Regulation No 596/2014.

Following the allotment and Admission of the Remuneration Shares, the Company's issued ordinary share capital shall consist of 698,897,479 shares and, upon Admission, this figure should be used by shareholders as the denominator to determine whether or not they need to notify IMC of a change in their own interests in the capital of the Company.

The Directors of IMC, after due and careful enquiry, accept responsibility for the content of this announcement.

Eamon P. O'Brien,

Executive Chairman,

Dublin, 4th April 2025

 

 

1
Details of the person discharging managerial responsibilities
a)
Name
Vahagn Marukhyan
2
Reason for the notification
a)
Position/status
Director & Chief Financial Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer
a)
Name
IMC Exploration Group plc
b)
LEI
2138006RYVS4BRW33C48
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 €0.001 each
ISIN: IE00B6WC2H62
b)
Nature of the transaction(s)
Awarded in lieu of monetary remuneration
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£0.0053
1,000,000
d)
Aggregated information
- Aggregated volume
- Aggregated price
1,000,000
£0.0053
e)
Date of the transaction(s)
03/04/2025
f)
Place of the transaction(s)
Outside a trading venue

 

 

1
Details of the person discharging managerial responsibilities
a)
Name
Gagik Gevorgyan
2
Reason for the notification
a)
Position/status
Director & Senior Geologist
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer
a)
Name
IMC Exploration Group plc
b)
LEI
2138006RYVS4BRW33C48
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 €0.001 each
ISIN: IE00B6WC2H62
b)
Nature of the transaction(s)
Awarded in lieu of monetary remuneration
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£0.0053
1,000,000
d)
Aggregated information
- Aggregated volume
- Aggregated price
1,000,000
£0.0053
e)
Date of the transaction(s)
03/04/2025
f)
Place of the transaction(s)
Outside a trading venue

 

 

The Directors of IMC, after due and careful enquiry, accept responsibility for the content of this announcement.

REGULATORY ANNOUNCEMENT ENDS.

 

 

 

Enquiries:

IMC Exploration Group plc

Eamon O'Brien

+353 87 6183024

Kathryn Byrne

+353 85 233 6033

 

Keith Bayley Rogers & Co. Limited

Stephen Clayson

stephen.clayson@kbrl.co.uk

+44 (0)7771 871 847

Brinsley Holman

brinsley.holman@kbrl.co.uk

+44 (0)7776 302 228

 

IFC Advisory Limited (Financial PR and IR)

Tim Metcalfe

Florence Chandler

+44 (0)203 934 6630