THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC
TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET
ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
IMC Exploration
Group plc (“IMC” or the “Company”)
Further to Announcement of Share Placing and Admission;
Clarification Being Sought from the Administrators of SVS
Securities plc (“SVS”)
The Board of IMC on 26th July 2019
announced inter alia that it had raised £100,000 (one hundred
thousand pounds Sterling) before expenses by way of a Placing of
10,000,000 (ten million) new Shares in the Company at a price of 1
penny per Placing Share, conditional only upon Admission of the
Placing Shares, which occurred on 1st August
2019. The terms “Placing”, “Shares”, “Placing Shares” and
“Admission” have the meanings ascribed to them in the Company’s
announcement of 26th July 2019.
A participant in the Placing was SVS. It was announced on
5th August 2019 that SVS had entered
Special Administration under the Banking Act 2009 (as amended) and
that the courts had appointed special administrators to resolve the
affairs of SVS following its cessation of trading on 2nd August 2019. Details are available via this
link:
https://www.fca.org.uk/news/news-stories/svs-securities-plc-enters-administration
SVS had irrevocably committed to subscribe for 6,500,000
(six-and-a-half million) Placing Shares in the Placing for a total
consideration of £65,000 (sixty-five
thousand pounds Sterling), which transaction had been due to
settle on 1st August 2019. The
Company is seeking confirmation from the special administrators of
SVS of the status of the overdue settlement. Further
announcement(s) will be made when IMC obtains substantive
information from the special administrators of SVS.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 7th
August 2019
The Directors of IMC, after due and careful enquiry, accept
responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc
Graham Atthill-Beck: +44 20 7464
4091/+971 50 856 9408 /
Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 /
Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited