Arkle Resources PLC Placing to Raise GBP200,000 (2067G)
14 November 2022 - 6:00PM
UK Regulatory
TIDMARK
RNS Number : 2067G
Arkle Resources PLC
14 November 2022
14 November 2022
Arkle Resources PLC
("Arkle" or the "Company")
Placing to Raise GBP200,000
Arkle Resources (AIM:ARK), the Irish Gold and Zinc resources
discovery company, is pleased to announce that it has raised
GBP200,000 (before expenses) through a placing of 50,000,000 new
ordinary shares at a price of 0.4p 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 0.5p for a
period of two years.
USE OF FUNDS
The net funds received from the Placing will be used for the
anticipated drilling programme for zinc in Limerick at the
Stonepark Joint Venture as well as for general corporate
activities.
DIRECTOR PARTICIPATION
John Teeling and David Cockbill, 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 2,500,000 13,375,773 3.38
------------------- -------------- ---------------
David Cockbill 2,500,000 7,435,408 1.88
------------------- -------------- ---------------
RELATED PARTY TRANSACTION
The participation of John Teeling and David Cockbill 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 Jim Finn) 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 Cockbill is fair
and reasonable in so far as Arkle's shareholders are concerned.
ADMISSION, WARRANTS 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 21 November
2022.
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 395,382,426 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
Blytheweigh 3204
Megan Ray
Rachael Brooks
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) David Cockbill
---------------------- ----------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------
a) Position/status 1) Chairman
2) Non-Executive 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 0.4 pence 2,500,000
----------- ----------
David Cockbill 0.4 pence 2,500,000
----------- ----------
---------------------- --------------------------------------------
d) Aggregated
information
- Aggregated
volume 5,000,000
- Price 0.4 pence
e) Date of the 14 November 2022
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) David Cockbill
---------------------- ----------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------
a) Position/status 3) Chairman
4) Non-Executive 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 0.5 pence 2,500,000
----------- ----------
David Cockbill 0.5 pence 2,500,000
----------- ----------
---------------------- --------------------------------------------
d) Aggregated
information
- Aggregated
volume 5,000,000
- Price 0.5 pence
e) Date of the 14 November 2022
transaction
---------------------- ----------------------------------------------
f) Place of Off-market
the transaction
---------------------- ----------------------------------------------
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