REG - URA Holdings PLC - Issue of Equity

URA HoldingsAnnouncement

27/02/2024 07:00

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RNS Number : 5034E  URA Holdings PLC  27 February 2024

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DISTRIBUTE THIS ANNOUNCEMENT.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSE OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF UNITED KINGDOM ("UK") DOMESTIC LAW
PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310)
("UK MAR"). MARKET SOUNDINGS WERE TAKEN FROM CERTAIN PERSONS IN RELATION TO
THE PLACING AND THE SUBSCRIPTION. THIS INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION
OF INSIDE INFORMATION.

URA Holdings plc

 

("URA" or the "Company")

 

Instituational fundraise to raise £475,000 to fund working capital for
operations at the Gravelotte Emerald Mine (the "Fundraise")

URA is delighted to announce that pursuant to the Fundraise it has raised
£475,000, (before expenses from existing institutional investors) through a
placing (the Placing"), issuing in aggregate 23,750,000 new ordinary shares in
the capital of the Company ("New Ordinary Shares") at an issue price of 2p per
New Ordinary Share. The Fundraise was conducted for the Company by Capital
Plus Partners.

Highlights

·    £475,000, before expenses, raised through the Placing of 23,750,000
Ordinary shares with  existing institutional investors at a price of 2p per
Ordinary Share

·    The 30 day moving average price of the Company's Ordinary Shares at
the market close on 23 February 2024 (last practicable date before pricing)
was 1.65p per Ordinary share and the mid-market price on that date was 2p per
Ordinary share

·    The proceeds from the Fundraise from institutional investors will
provide additional working capital for the Company's Gravelotte Emerald Mine
(GEM) to continue production following the commencement of  mining

As a further component of the Fundraise, the Company executed a warrant
instrument, issuing 1,425,000 warrants to Capital Plus Partners in accordance
with their engagement letter at an exercise price of 2p per Ordinary Share for
a period of three years.

Ed Nealon, Chairman of URA Holdings plc commented:

"We are delighted to announce this successful institutional placing. This
significant increase in their investment by well-known UK institutions is a
testimony tof the quality of our assets, our team and the progress we have
made and will continue to make as we not only start production but focus on
post production activities like sales, marketing and expansion. The proceeds
will be used primarily to meet the working capital needs of our operations at
the Gravelotte Emerald Mine once production has commenced and is expected to
take us through to first revenue."

 

Additional information

Applications for Admission

Applications will be made for the 23,750,000 Ordinary Shares to be admitted to
the standard segment of the Official List and to trading on the Main Market
for listed securities of the London Stock Exchange plc. It is expected that
admission will take place on or around 8.00 a.m. on 4 March 2024.

The 23,750,000 Ordinary Shares will, on admission, rank pari passu in all
respects with the Ordinary Shares currently in issue and will rank in full for
all dividends and other distributions hereafter declared, paid or made on the
share capital of the Company.

Total Voting Rights

Following the issue of the Ordinary Shares, the Company will have 276,095,590
Ordinary Shares in issue, each share carrying the right to one vote.

This figure of 276,095,590 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.

Enquiries:

 

 URA Holdings plc                                                                              +44 (0)746 368 6497

 Chief Executive Officer

 Bernard Olivier

 Director

 Peter Redmond

 Chief Operating Officer

Jeremy Sturgess-Smith

                                                                                             info@uraholdingsplc.co.uk

 Peterhouse Capital Limited                                                                    +44 (0)20 7469 0930

 Joint Corporate Broker

 Lucy Williams

 Duncan Vasey

 Capital Plus Partners

 Joint Corporate Broker

 Keith Swann

 Jon                                                                                           +44 (0)203 821 6169
 Critchley

                                                                                               +44 (0)203 821 6168

 CMC Markets

 Joint Corporate Broker

 Douglas Crippen                                                                               +44 (0)20 3003 8632

About URA Holdings Plc

URA is focused on restarting the Gravelotte Emerald Mine. URA Holdings is
committed to sustainable and efficient mining practices, utilising modern
technology to revive one of the world's historically significant emerald
mines.

 

For more information about URA Holdings Plc, including investor relations and
corporate news, please visit our website at www.uraholdingsplc.co.uk
(http://www.uraholdingsplc.co.uk) or follow us through our social media
channel:

X(formally known as Twitter): @ura_plc

 

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