REG - URA Holdings PLC - Result of Accelerated Bookbuild

URA HoldingsAnnouncement

21/11/2023 07:00

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RNS Number : 0560U  URA Holdings PLC  21 November 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
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.

 

21 November 2023

 

URA Holdings plc

 

("URA" or the "Company")

 

Result of Accelerated Bookbuild

 

Strong support from directors

 

Net proceeds to facilitate be used restart the Gravellotte Emerald Mine

 

URA is pleased to announce that, further to following yesterday's announcement
of the launch of the placing via the bookbuild, it has successfully raised
£1,000,000 (before expenses) through the placing and subscription (together
the "Fundraise"), issuing in aggregate 80,000,000 new ordinary shares in the
capital of the Company ("New Ordinary Shares") at an issue price of 1.25p per
New Ordinary Share.

 

Closing of the Fundraise is conditional upon the publication of a new
secondary prospectus and upon shareholder approval. A prospectus in connection
with the Fundraise has been lodged with the FCA and will be published in due
course. The Fundraise is also subject to a shareholder approval at a general
meeting (further details of which are set out below).

 

The proceeds of the Fundraise will be used to restart the Gravellotte Emerald
Mine and includes the purchase and installation of the remaining capital
items, primarily relating to the proceesing plant and commissioning of the
processing plant as well as general working capital. The restart of mining and
processing operations and first emerald production is expected to occur in Q1
2024.

 

The issue price of 1.25p represents a discount of 24% to the mid market
closing price of the ordinary shares on the London Stock Exchange plc at 4pm
on 20 November 2023.

 

The following Directors participated in the Subscription:

 

Director
Subscription Amount   Number of New Ordinary Shares

Edward Nealon
£58,333.32                  4,666,666

Peter Redmond
£45,000                       3,600,000

Bernard Olivier
£21,666.64                  1,833,331

Sam Mulligan
£12,500                       1,000,000

 

As a further component of the Fundraise, the Company will issue a total of
3,184,000 warrants to the bookrunners each entitling the holder to subcribe
for one new ordinary share at a price of 1.25 pence for a period of three
years.

 

Ed Nealon, Chairman of URA Holdings Plc commented:

 

"We would like to welcome all our new investors including the new
institutional investors as well as thank everybody for their support in
completing this placement despite the unusually challenging market
environment. Following the completion of the placement we can now focus on
completing the mine and processing plant refurbishment and commissioning and
restarting emerald mining and processing at Gravelotte."

 

Additional information

 

Posting of Circular

 

The issue of the New Ordinary Shares, as well as the authority to issue the
shares into which the Warrants may covert, are conditional, inter alia, on the
passing by the Company's shareholders of certain resolutions at a General
Meeting. A circular containing a notice of general meeting (the "Circular")
will be posted to shareholders later this week. A further announcement
containing the details of the general meeting will be made upon publication of
the Circular.

 

Applications for Admission

 

Applications will be made for the New 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 become effective on or about 12 December 2023 (subject to the
satisfaction of the conditions described above). Any changes to the anticapted
timeframe will be notified by RNS.

 

Rights of the New Orinary Shares

 

The New 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
ordinary share capital of the Company.

 

Total Voting Rights

 

Following the issue of the New Ordinary Shares, which is expected to occur on
or about 12 December 2023, the Company will have 252,345,590 ordinary shares
in issue, each share carrying the right to one vote.

 

This figure of 252,345,590  ordinary shares may then 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.

 

-Ends-

 URA Holdings plc            +44 (0)746 368 6497

 CEO                         info@uraholdingsplc.co.uk (about%3Ablank)

 Bernard Olivier

 COO

Jeremy Sturgess-Smith

 Director

 Peter Redmond

 Peterhouse Capital Limited  +44 (0)20 7469 0930

 Corporate Broker

 Lucy Williams

 Duncan Vasey

 

 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                                                         Edward Nealon
 2   Reason for the notification
 a)  Position/status                                              Chairman
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer, or auction monitor
 a)  Name                                                         URA Holdings plc
 b)  LEI                                                          213800U6Z250COBY7781
 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

     Identification code                                          Ordinary Shares

                                                                  ISIN: GB00BD2B4T80
 b)  Nature of the transaction                                    Subscription for ordinary shares
 c)  Price(s) and volume(s)                                        4,666,666 Ordinary Shares at £0.0125 per share
 d)  Aggregated information                                       N/A

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      21 November 2023
 f)  Place of the transaction                                     Off Market
 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                                                         Peter Redmond
 2   Reason for the notification
 a)  Position/status                                              Non-Executive Director
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer, or auction monitor
 a)  Name                                                         URA Holdings plc
 b)  LEI                                                          213800U6Z250COBY7781
 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

     Identification code                                          Ordinary Shares

                                                                  ISIN: GB00BD2B4T80
 b)  Nature of the transaction                                    Subscription for ordinary shares
 c)  Price(s) and volume(s)                                       3,600,000 Ordinary Shares at £0.0125 per share
 d)  Aggregated information                                       N/A

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      21 November 2023
 f)  Place of the transaction                                     Off Market
 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                                                         Bernard Olivier
 2   Reason for the notification
 a)  Position/status                                              CEO
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer, or auction monitor
 a)  Name                                                         URA Holdings plc
 b)  LEI                                                          213800U6Z250COBY7781
 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

     Identification code                                          Ordinary Shares

                                                                  ISIN: GB00BD2B4T80
 b)  Nature of the transaction                                    Subscription for ordinary shares
 c)  Price(s) and volume(s)                                        1,833,331 Ordinary Shares at £0.0125 per share
 d)  Aggregated information                                       N/A

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      21 November 2023
 f)  Place of the transaction                                     Off Market
 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                                                         Sam Mulligan
 2   Reason for the notification
 a)  Position/status                                              Director
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer, or auction monitor
 a)  Name                                                         URA Holdings plc
 b)  LEI                                                          213800U6Z250COBY7781
 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

     Identification code                                          Ordinary Shares

                                                                  ISIN: GB00BD2B4T80
 b)  Nature of the transaction                                    Subscription for ordinary shares
 c)  Price(s) and volume(s)                                       1,000,000 Ordinary Shares at £0.0125 per share
 d)  Aggregated information                                       N/A

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      21 November 2023
 f)  Place of the transaction                                     Off Market

 

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