REG - AIM Helix Exploration - Schedule One Update - Helix Exploration plc

Premier MitonAnnouncement

04/04/2024 09:15

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RNS Number : 2038J  AIM  04 April 2024

 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE
 WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 COMPANY NAME:
 Helix Exploration PLC

 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
 (INCLUDING POSTCODES) :
 25 E P 25 Eccleston Place

 London

 United Kingdom

 SW1W 9NF
 COUNTRY OF INCORPORATION:
 England and Wales

 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
 https://www.helixexploration.com/ (https://www.helixexploration.com/)

 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
 INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY).  IF THE ADMISSION IS
 SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
 STATED:
 Helix Exploration PLC (the "Company") was incorporated on 23 September 2023
 with the purpose of pursuing the exploration, commercial development and
 monetisation of a non-hydrocarbon associated helium rich gas structure in the
 Ingomar Dome located in central Montana, USA.

 The Company has identified prospective areas for helium (He) through the
 conditional acquisition (subject to the Company's admission to trading on AIM)
 of its wholly owned subsidiary, Hereford Resources LLC ("Hereford"), to
 acquire all of the membership interest of Hereford which holds certain
 interests in approximately 11,277 acres across 52 licenses located in Central
 Montana which has  a potential for helium accumulation and which the Company
 intends to exploit for the purposes of exploration for helium resources. The
 Hereford acquisition is expected to be completed on admission to trading on
 AIM.

 The Company has a skilled management team with experience in helium
 development and growing companies. David Minchin, Executive Chairman, was
 previously the Chief Executive Officer of another UK listed helium exploration
 company and Bo Sears, Chief Executive Officer, has over 24 years' exposure in
 the helium exploration sector, with experience in exploration, production and
 marketing of helium in North America. The Company believes it also has strong
 relationships with key stakeholders.

 The Directors believe that a helium grade above 0.5 per cent. He is considered
 commercial. The Company aims to commence scoping studies and test drilling in
 2024, with plant construction and production drilling due to commence and
 complete in 2025, with a first gas target of Q4 2025.

 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER
 OF THE SECURITIES (i.e. where known, number and type of shares, nominal value
 and issue price to which it seeks admission and the number and type to be held
 as treasury shares):
 122,240,000 Ordinary Shares with a nominal value of £0.01.

 No restrictions as to the transfer of the Ordinary Shares.

 No Ordinary Shares will be held as treasury shares on Admission.

 CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED
 MARKET CAPITALISATION ON ADMISSION:
 Total capital to be raised on Admission: £7.5 million

 Anticipated market capitalisation on Admission: £12,224,000

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
 Approximately 11.9%

 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES
 (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
 None

 THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N)
 No

 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the
 first name by which each is known or including any other name by which each is
 known):

 Current Directors of Helix:

 David James Minchin, Executive Chairman

 Ryan Paul Neates, Chief Financial Officer

 Proposed Board from Admission:

 David James Minchin, Executive Chairman

 Wheeler ("Bo") Moore Sears, Chief Executive Officer

 Ryan Paul Neates, Chief Financial Officer

 Keith Dean Spickelmier, Independent Non-Executive Director

 Gregg Walter Peters, Independent Non-Executive Director

 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE
 OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first
 name by which each is known or including any other name by which each is
 known):

Name                     Ordinary Shares held pre-admission  Percentage held  Ordinary Shares held post-admission  Percentage held
 David Minchin(1)         4,100,000                           18.0%            4,600,000                            3.8%
 Christian Boletta        2,050,000                           9.0%             3,050,000                            2.5%
 Richard Harrop           1,000,000                           4.4%             1,600,000                            1.3%
 Sarfraz Munshi           1,000,000                           4.4%             2,575,000                            2.1%
 Richard Stracker-Smith   1,000,000                           4.4%             1,348,985                            1.1%
 Sean Gates               1,000,000                           4.4%             1,348,985                            1.1%
 Adrian McAlpine          800,000                             3.5%             945,410                              0.8%
 Angus McAlpine           690,000                             3.0%             864,495                              0.7%
 Bo Sears(1,2)            nil                                 0%               10,000,000                           8.2%
 Premier Miton Investors  nil                                 0%               4,125,000                            3.4%
 Edale Capital LLP        nil                                 0%               3,750,000                            3.1%

 

 (1) current or proposed directors of the Company

 (2) former Hereford Resources, LLC shareholder

 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
 (H) OF THE AIM RULES:
 N/A

 (i)         ANTICIPATED ACCOUNTING REFERENCE DATE

 (ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
 ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
 interim financial information)

 (iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
 PURSUANT TO AIM RULES 18 AND 19:

(i)    Accounting Reference Date                                                      30 September
 (ii)   Date main financial information in the Admission Document has been prepared    31 December 2023
 (iii)  Date by which it must publish its first three reports pursuant to AIM Rule 18
     and 19:

     Half yearly report to 31 March 2024

                                        30 June 2024
     Annual Audited Accounts to 30 September 2024

                                        31 March 2025
     Half yearly report to 31 March 2025

                                        30 June 2025

 

 EXPECTED ADMISSION DATE:
 9 April 2024

 NAME AND ADDRESS OF NOMINATED ADVISER:
 Cairn Financial Advisers LLP

 9(th) Floor, 107 Cheapside

 London EC2V 6DN

 NAME AND ADDRESS OF BROKER:
 H&P Advisory Limited

 3rd Floor

 7-10 Chandos St

 London W1G 9DQ

 Oak Securities (a trading name of Merlin Partners LLP)

 90 Jermyn Street

 London SW1Y 6JD

 SI Capital Limited

 67 Grosvenor Street

 London W1K 3JN

 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
 INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
 STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
 ADMISSION OF ITS SECURITIES:
 25 E P 25 Eccleston Place

 London

 United Kingdom

 SW1W 9NF

 THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
 QCA Code

 DATE OF NOTIFICATION:
 4 April 2024

 NEW/ UPDATE:
 Update

 

(1) current or proposed directors of the Company

(2) former Hereford Resources, LLC shareholder

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:

N/A

 

(i)         ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)

(iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:

 

 (i)    Accounting Reference Date                                                      30 September
 (ii)   Date main financial information in the Admission Document has been prepared    31 December 2023
 (iii)  Date by which it must publish its first three reports pursuant to AIM Rule 18
        and 19:

        Half yearly report to 31 March 2024

                                                                              30 June 2024
        Annual Audited Accounts to 30 September 2024

                                                                              31 March 2025
        Half yearly report to 31 March 2025

                                                                              30 June 2025

 

 

EXPECTED ADMISSION DATE:

9 April 2024

 

NAME AND ADDRESS OF NOMINATED ADVISER:

Cairn Financial Advisers LLP

9(th) Floor, 107 Cheapside

London EC2V 6DN

 

NAME AND ADDRESS OF BROKER:

H&P Advisory Limited

3rd Floor

7-10 Chandos St

London W1G 9DQ

 

Oak Securities (a trading name of Merlin Partners LLP)

90 Jermyn Street

London SW1Y 6JD

 

SI Capital Limited

67 Grosvenor Street

London W1K 3JN

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:

25 E P 25 Eccleston Place

London

United Kingdom

SW1W 9NF

 

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Code

 

DATE OF NOTIFICATION:

4 April 2024

 

NEW/ UPDATE:

Update

 

 

 

 

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