REG-IMC Exploration Group Plc: Issue of Equity in lieu of Remuneration

IMC ExplorationAnnouncement

20/12/2022 07:15

THE DIRECTORS OF IMC EXPLORATION GROUP PLC CONSIDER THIS ANNOUNCEMENT TO
CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU)
NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON
MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018 (THE "MARKET ABUSE REGULATION"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN.

IMC Exploration Group Public Limited Company

(“IMC” or the “Company”)

Award of New Ordinary Shares In lieu of Monetary Compensation

IMC announces that the Board of Directors has resolved to issue as follows in
lieu of monetary remuneration an aggregate of 14,794,916 new ordinary shares
of €0.001 each in the capital of the Company at 0.63 pence Sterling per
share (the “Remuneration Shares”), being the mid-market closing price on
16(th) December 2022 on the main market of the London Stock Exchange of the
Company’s shares:

      Allottee            Position        No. of Remuneration Shares  
 Eamon P. O'Brien:  Executive Chairman                      8,219,398 
 Lisa McDonnell     Senior Administrator                    6,575,518 
 Total                                                     14,794,916 

Application shall be made to the Financial Conduct Authority (“FCA”) for
the Remuneration Shares, which rank pari passu in all respects with the
Company existing ordinary shares in issue, to be admitted to the standard
segment of FCA’s Official List and to the London Stock Exchange for
admission to trading on main market (together, “Admission”). A further
announcement in this connection shall be made shortly.

Directors’ and other notifiable Interests

Prior to the allotment and Admission of the Remuneration Shares, Eamon P.
O’Brien, a Director and the Executive Chairman of IMC, held 6,240,000 shares
equating to 2.00% (two per cent.) of the voting rights in the capital of the
Company.  Following Admission of the Remuneration Shares he will hold
14,459,398 share or 4.43% (four point four three per cent.) of the voting
rights in the capital as it shall have been enlarged by the 14,794,916
Remuneration Shares.

Lisa McDonnell previously held 12,290,000 shares equating to 3.95% (three
point nine five per cent.) of the voting rights. Following Admission of the
Remuneration Shares, Ms. McDonnell will hold 18,865,518 shares representing
5.78% (five point seven eight per cent.) of IMC’s enlarged share capital.

Following the allotment and Admission of the Remuneration Shares, the
Company’s issued ordinary share capital shall consist of 326,290,907 shares
(311,495,991 shares) and, upon Admission, the former 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.

Eamon P. O’Brien,

Executive Chairman,

Dublin, 19(th) December 2022

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

REGULATORY ANNOUNCEMENT ENDS.

Enquiries:

Keith, Bayley, Rogers & Co. Limited

Graham Atthill-Beck: +44 7506 43 41 07 / Graham.Atthill-Beck@kbrl.co.uk;
blackpearladvisers@gmail.com    

Brinsley Holman: +44 7776 30 22 28/ Brinsley.Holman@kbrl.co.uk

IMC Exploration Group plc

Kathryn Byrne: +353 85 233 6033



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