REG - AIM Helix Exploration - Schedule One - Helix Exploration Plc
22/03/2024 09:15
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RNS Number : 8505H AIM 22 March 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):
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: up to £7.5 million
Anticipated market capitalisation on Admission: TBC
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
TBC
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
Christian Dario Boletta, Non-Executive Director
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 TBC
Christian Boletta(1,3) 2,050,000 9.0% 3,050,000 TBC
Richard Harrop 1,000,000 4.4% TBC TBC
Sarfraz Munshi 1,000,000 4.4% TBC TBC
Richard Stracker-Smith 1,000,000 4.4% TBC TBC
Sean Gates 1,000,000 4.4% TBC TBC
Adrian McAlpine 800,000 3.5% TBC TBC
Angus McAlpine 690,000 3.0% TBC TBC
Bo Sears(1,2) nil 0% 10,000,000 TBC
(1) current or proposed directors of the Company
(2) former Hereford Resources, LLC shareholder
(3) Christian Boletta is a current director of the Company however he will
step down from the Board on admission
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:
Early 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:
22 March 2024
NEW/ UPDATE:
New
(1) current or proposed directors of the Company
(2) former Hereford Resources, LLC shareholder
(3) Christian Boletta is a current director of the Company however he will
step down from the Board on admission
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:
Early 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:
22 March 2024
NEW/ UPDATE:
New
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