REG-IMC Exploration Group Plc: Issue of Equity

IMC ExplorationAnnouncement

20/10/2025 14:00

 

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.

20th October 2025

IMC Exploration Group PLC

 

(“IMC”, the “Company” or the “Group”)

 

Financial and Management Restructuring

 

IMC is pleased to announce certain management appointments and a restructuring
of a loan provided to the Company.

Highlights
*                        Armand Pinarbasi, former Managing Partner Grant
Thornton Armenia, has been appointed to the Company’s Board as an Executive
Director with immediate effect and he has also been appointed as Chief
Executive Officer of IMC’s Armenian mining subsidiary, ASSAT LLC.           
           *                            In addition, Lumír Vaštík, a
long-term partner in the Company’s shareholder               Mineral
Ventures Invest s.r.o               (“MVI”) will become the Deputy
Director of ASSAT LLC.
 
*                        The conversion into ordinary shares in the Company   
         of all loans provided by MVI to IMC up to the date of completion of
the reverse take-over on 31 October 2023. The amount loaned up to 31 October
2023 by MVI totalled €702,286 (equivalent to £613,350) and is being
converted on the basis of an IMC share price of 0.75p into 81,780,029 new
ordinary shares in the Company.
 

Appointment of Armand Pinarbasi

IMC is delighted to welcome Armand to the Board.With over 30 years of
executive experience in top international management, financial services,
audit, and international business, Armand has led complex organisations,
driven cross-border growth, and built global teams.

Armand served as Group CEO of SoftConstruct, a multinational technology group
with 6,000+ employees. Before that, Armand spent more than 20 years at Grant
Thornton, holding senior leadership roles including Managing Partner of Grant
Thornton Armenia, Partner at Grant Thornton in France, where he also served as
Managing Partner Grant Thornton PACA region (Nice, Provence-Alpes-Côte
d'Azur) for nine years, and Executive Director for Network Member Relations at
Grant Thornton International. His work spanned top international management
including strategy, operations, M&A, and governance across multiple markets.

He has also been active in public and the diplomatic service, having served as
Honorary Consul of the Kingdom of Denmark in Armenia, Foreign Trade Advisor to
the French Government, and President and Founder of the French-Armenian
Chamber of Commerce. He is a member of the French State Body of Chartered
Accountants and Statutory Auditors and was honoured as a Knight of the French
National Order of Merit for his contributions to international economic
relations.

Armand, at IMC Board level, will undertake the role of business development,
not only in Armenia, but in the South Caucasus countries and in Eastern Europe
where a number of opportunities are opening up especially for those companies
with a proven eco-mining solution.  Currently, Armand is in discussions with
the Armenian Stock Exchange, with regard to moving forward IMC’s application
for a dual listing on that exchange.

Armand Pinarbasi has confirmed to the Company that he is the holder of
32,300,000 IMC ordinary shares.

Other than as set out in this announcement there are no further disclosures
required in respect of Armand Pinarbasi under paragraph 6.4.8 of the Listing
Rules.

 

Loan Conversion

The amount loaned byMVI to IMC up to 31 October 2023 of €702,286, being
equivalent to            £613,350            is being converted on the basis
of a share price of 0.75 pence into 81,780,029 new ordinary shares of €0.001
each in the capital of the Company (the “Loan Conversion Shares”). The
closing mid-price of IMC’s shares on the London Stock Exchange on 17th
October 2025, the last practicable date prior to the release of this
announcement was 0.65 pence. 

Application shall be made to the Financial Conduct Authority (“FCA”) for
the Loan Conversion Shares, which will rank pari passu            in all
respects with the Company’s existing ordinary shares in issue, to be
admitted to the FCA’s Official List and to trading on the London Stock
Exchange (“Admission”).             Admission is expected to occur on or
around 30th October 2025.

Total Voting Rights

Following Admission of the Loan Conversion Shares, the Company’s issued
ordinary share capital shall consist of 780,677,508 Ordinary Shares and, on
Admission, this figure should be used by shareholders as the denominator to
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.

The Directors of IMC accept responsibility for the content of this
announcement.

 

Eamon P. O’Brien.

Executive Chairman.

Dublin 20                                  th                                 
 October 2025.

 

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

 

 



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