Arkle Resources PLC Placing to Raise GBP215,000 (6060T)
November 16 2023 - 2:00AM
UK Regulatory
TIDMARK
RNS Number : 6060T
Arkle Resources PLC
16 November 2023
16 November 2023
Arkle Resources PLC
("Arkle" or the "Company")
Placing to Raise GBP215,000
Arkle Resources PLC (AIM:ARK), the Irish Gold and Zinc resources
discovery company, is pleased to announce that it has raised
GBP215,000 (before expenses) through a placing of 61,428,571 new
ordinary shares at a price of 0.35p per share (the "Placing
Shares") (the "Placing"). Each Placing Share has one warrant
attached with the right to subscribe for one new ordinary share at
0.35p for a period of two years.
USE OF FUNDS
The net funds received from the Placing will be used for the
recently announced Lithium exploration programme as well as for
general corporate activities.
DIRECTOR PARTICIPATION
John Teeling and James Finn, both directors of the Company, have
participated in the Placing on the same terms as described above as
follows:
No. of Placing Resultant % of enlarged
Shares subscribed shareholding share capital
for
John Teeling 28,571,429 41,947,202 9.18
------------------- -------------- ---------------
James Finn 14,285,714 28,349,241 6.21
------------------- -------------- ---------------
RELATED PARTY TRANSACTION
The participation of John Teeling and James Finn in the Placing
is a related party transaction for the purposes of AIM Rule 13 of
the AIM Rules for Companies. The Director independent of the
Placing (being David Cockbill) considers, having consulted with SP
Angel Corporate Finance LLP, the Company's Nominated Adviser, that
the participation in the Placing by Mr Teeling and Mr Finn is fair
and reasonable in so far as Arkle's shareholders are concerned.
ADMISSION AND TOTAL VOTING RIGHTS
An application will be made to the London Stock Exchange for the
Placing Shares to be admitted to trading on AIM ("Admission"). It
is expected that Admission will become effective and that dealings
in the Placing Shares on AIM will commence on or around 23 November
2023.
In accordance with the FCA's Disclosure Guidance and
Transparency Rules, the Company confirms that on completion of the
Placing and following Admission, the Company's enlarged issued
ordinary share capital will comprise 456,810,997 Ordinary
Shares.
The Company does not hold any Ordinary Shares in Treasury.
Therefore, following Admission, the above figure may be used by
shareholders in the Company as the denominator for the calculations
to determine if they are required to notify their interest in, or a
change to their interest in the Company, under the FCA's Disclosure
Guidance and Transparency Rules.
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
S
Enquiries:
Arkle Resources PLC
John Teeling, Chairman +353 (0) 1 833 2833
Jim Finn, Finance Director +353 (0) 1 833 2833
SP Angel Corporate Finance LLP
Nominated Adviser & Joint Broker
+44 (0) 203 470
Matthew Johnson/ Adam Cowl 0470
First Equity Limited
Joint Broker
+44 (0) 207 374
Jason Robertson 2212
+44 (0) 207 138
BlytheRay 3204
Megan Ray
Teneo
Luke Hogg +353 (0) 1 661 4055
Dealings by Persons Discharging Managerial Responsibilities
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1) John Teeling
2) James Finn
------------------------ -----------------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status 1) Chairman
2) Finance Director
------------------------ -----------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------ -----------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Arkle Resources plc
------------------------ -----------------------------------------
b) LEI 213800CTOO8MOLMNEQ44
------------------------ -----------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-------------------------------------------------------------------
a) Description Ordinary Shares of EUR0.0025 each.
of the financial
instrument,
type of instrument
Identification ISIN: IE00B2357X72
code
b) Nature of Participation in Placing
the transaction
------------------------ -----------------------------------------
c) Price(s) Director Price Volume
and volume(s) John Teeling 0.35p 28,571,429
------ -----------
James Finn 0.35p 14,285,714
------ -----------
------------------------ ---------------------------------------
d) Aggregated
information
- Aggregated
volume 42,857,139
- Price 0.35 pence
e) Date of the 15 November 2023
transaction
------------------------ -----------------------------------------
f) Place of Off-market
the transaction
------------------------ -----------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 3) John Teeling
4) James Finn
------------------------ -----------------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status 3) Chairman
4) Finance Director
------------------------ -----------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------ -----------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Arkle Resources plc
------------------------ -----------------------------------------
b) LEI 213800CTOO8MOLMNEQ44
------------------------ -----------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-------------------------------------------------------------------
a) Description Ordinary Shares of EUR0.0025 each.
of the financial
instrument,
type of instrument
Identification ISIN: IE00B2357X72
code
b) Nature of Granting of warrants
the transaction
------------------------ -----------------------------------------
c) Price(s) Director Price Volume
and volume(s) John Teeling 0.35p 28,571,429
------ -----------
James Finn 0.35p 14,285,714
------ -----------
------------------------ ---------------------------------------
d) Aggregated
information
- Aggregated
volume 42,857,139
- Price 0.35 pence
e) Date of the 15 November 2023
transaction
------------------------ -----------------------------------------
f) Place of Off-market
the transaction
------------------------ -----------------------------------------
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END
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