REG - Oriole Resources PLC - Exercise of Warrants, Directors Dealings and TVR
22/01/2024 13:15
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RNS Number : 4922A Oriole Resources PLC 22 January 2024
Oriole Resources PLC
('Oriole Resources' or 'the Company' or 'the Group')
Exercise of Warrants, Directors Dealings and Total Voting Rights
Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed
on West Africa announces that, following receipt of notices to exercise
warrants over ordinary shares in the Company (the 'Exercise') by four of the
Company's directors, application has been made for 17,444,445 new ordinary
shares of 0.1p each ('Ordinary Shares') in the Company to be admitted to
trading on AIM on 26 January 2024 ('Admission'). The exercise prices of the
warrants are as set out below:
Instrument Exercise Price (pence) Number of New Ordinary Shares to be admitted
Warrants 0.25 17,444,445
The warrants are being exercised by four directors of the Company and details
of these together with their resultant interests in the share capital of the
Company are set out below:
Name No. of Existing Ordinary Shares No. of Shares to be issued in respect of Warrant exercise Number of Ordinary Shares held post Admission Percentage of Total Warrant holdings post Admission Total Option holdings post Admission
enlarged issued
share capital
following
Admission
Eileen Carr 152,672,969 9,500,000 162,172,969 4.18% 1,611,111 24,300,000
Tim Livesey 38,308,323 2,777,778 41,086,101 1.06% - 76,479,940
Robert Smeeton 32,436,378 3,500,000 35,936,378 0.93% 3,166,666 64,383,952
Claire Bay 9,739,901 1,666,667 11,406,568 0.29% - 47,530,000
Further details on the exercise are included in the notification below, made
in accordance with the requirements of UK MAR.
The new Ordinary Shares will rank pari passu with the Company's existing
Ordinary Shares.
Following Admission, a total of 171,444,443 warrants and 264,526,245 options
over Ordinary Shares (representing approximately 11.2 per cent. of the
Company's enlarged issued share capital) remain outstanding.
Total Voting Rights
Following Admission, the Company's issued share capital will be 3,881,983,450
Ordinary Shares. This figure of 3,881,983,450 may be used by shareholders 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 and Transparency Rules.
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014. Following the publication of this announcement, this inside
information is now considered to be in the public domain.
** ENDS **
ANNEX - PDMR notifications
Template for notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely associated with
them
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Eileen Carr
2 Reason for the notification
a) Position/status Chair
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Oriole Resources PLC
b) LEI 213800X32GJR5AGAR511
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 0.1 pence each in the capital of the Company
Identification code Ordinary share ISIN: GB00B0T29327
b) Nature of the transaction Exercise of warrants
c) Price(s) and volume(s)
Price(s) Volume(s)
0.25p 9,500,000
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 22nd January 2024
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Timothy Livesey
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Oriole Resources PLC
b) LEI 213800X32GJR5AGAR511
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 0.1 pence each in the capital of the Company
Identification code Ordinary share ISIN: GB00B0T29327
b) Nature of the transaction Exercise of warrants
c) Price(s) and volume(s)
Price(s) Volume(s)
0.25p 2,777,778
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 22nd January 2024
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Robert Smeeton
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Oriole Resources PLC
b) LEI 213800X32GJR5AGAR511
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 0.1 pence each in the share capital of the company
Identification code Ordinary share ISIN: GB00B0T29327
b) Nature of the transaction Exercise of warrants
c) Price(s) and volume(s)
Price(s) Volume(s)
0.25p 3,500,000
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 22nd January 2024
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Claire Bay
2 Reason for the notification
a) Position/status Executive Director, Exploration & Business Development
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Oriole Resources PLC
b) LEI 213800X32GJR5AGAR511
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 0.01 pence each in the share capital of the company
Identification code Ordinary share ISIN: GB00B0T29327
b) Nature of the transaction Exercise of warrants
c) Price(s) and volume(s)
Price(s) Volume(s)
0.25p 1,666,667
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 22nd January 2024
f) Place of the transaction Outside a trading venue
For further information please visit www.orioleresources.com
(http://www.orioleresources.com/) , @OrioleResources on Twitter, or
contact:
Oriole Resources Plc Tel: +44 (0)20 7830 9650
Tim Livesey / Bob Smeeton / Claire Bay
BlytheRay (IR/PR Contact) Tel: +44 (0)20 7138 3204
Tim Blythe / Megan Ray
Grant Thornton UK LLP Tel: +44 (0)20 7383 5100
Samantha Harrison / Ciara Donnelly
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
Ewan Leggat / Harry Davies-Ball
Notes to Editors:
Oriole Resources PLC is an AIM-listed gold exploration company, operating
in West Africa. It is focussed on early-stage exploration
in Cameroon, where the Company has reported a Resource of 375,000 oz Au at
2.30g/t in the JORC Inferred category at its 82.2%-owned Bibemi project and
has identified multi-kilometre gold and lithium anomalism within the
district-scale Central Licence Package project. BCM International is currently
earning up to a 50% interest in the Bibemi and Mbe projects in return for a
combined investment of US$1.5m in signature payments (US$550,000 of which has
already been received), up to US$8m in exploration expenditure, as well as
JORC resource-based success payments.
At the more advanced Senala gold project in Senegal, AGEM Senegal
Exploration Suarl ('AGEM'), a wholly-owned subsidiary of Managem Group, has
earned an initial 51% beneficial interest in the Senala Exploration Licence by
spending US$4 million and has the option to spend up to a further US$4
million by 17 February 2024 to earn an additional 19% interest in the
licence. The Company also has several interests and royalties in companies
operating in East Africa and Turkey that could deliver future cash flow.
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