TIDMARG

RNS Number : 1067V

Argos Resources Ltd

12 April 2021

Argos Resources Limited

Director / PDMR Dealing

On 7(th) April 2021 Argos Resources Limited (AIM: ARG.L) announced that it had conditionally raised gross proceeds of US$550,000 (approximately GBP400,000) through the issue of 14,428,001 Subscription Shares at a price equivalent to 2.75 pence each (the "Subscription Price") from certain new shareholders and Ian Thomson, Executive Chairman of the Company (the "Fundraise").

Pursuant to the Fundraise, Mr Thomson conditionally subscribed for a total of 6,558,182 new ordinary shares at the Subscription Price. The Subscription Shares are expected to be issued and admitted to trading on AIM on or around 5 May 2021, subject to satisfaction of the conditions required for completion of the Fundraise. Following the issue of the Subscription Shares, Mr Thomson will be interested in a total of 35,102,883 ordinary shares, representing 14.93% per cent. of the issued share capital of the Company.

Further details are disclosed below in accordance with Article 19 of the EU Market Abuse Regulation.

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
 a)   Name                                               Ian Thomson 
     -------------------------------------------------  -------------------------------- 
 2.   Reason for the Notification 
     ----------------------------------------------------------------------------------- 
 a)   Position/status                                    Executive Chairman 
     -------------------------------------------------  -------------------------------- 
 b)   Initial notification/Amendment                     Initial 
     -------------------------------------------------  -------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, 
       auctioneer or auction monitor 
     ----------------------------------------------------------------------------------- 
 a)   Name                                               Argos Resources Ltd 
     -------------------------------------------------  -------------------------------- 
 b)   LEI                                                213800JFBALNFGTAJM89 
     -------------------------------------------------  -------------------------------- 
 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                                 Ordinary Shares of 2p 
       Financial instrument,                              each 
       type of instrument 
     -------------------------------------------------  -------------------------------- 
      Identification code                                FK0114538241 
     -------------------------------------------------  -------------------------------- 
 b)   Nature of the transaction                          Conditional Subscription 
     -------------------------------------------------  -------------------------------- 
 c)   Price(s) and volume(s)                              Price(s)      Volume(s) 
                                                           2.75 pence    6,558,182 
     -------------------------------------------------  -------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume                            6,558,182 Ordinary Shares 
                                                          GBP180,350.00 
 
        *    Price 
     -------------------------------------------------  -------------------------------- 
 e)   Date of the transaction                            7 April 2021 
     -------------------------------------------------  -------------------------------- 
 f)   Place of the transaction                           London Stock Exchange, 
                                                          AIM 
     -------------------------------------------------  -------------------------------- 
 
 

For further information:

Argos Resources Limited (+500 22685)

www.argosresources.com

Ian Thomson, Chairman

John Hogan, Managing Director

Cenkos Securities PLC

Neil McDonald (+44 131 220 6939)

Derrick Lee (+44 131 220 9100)

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END

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