TIDMALK

RNS Number : 8523U

Alkemy Capital Investments PLC

04 August 2022

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM ANY PART OF AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION. NO PUBLIC OFFERING OF THE FUNDRAISE SHARES IS BEING MADE IN ANY SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.

THIS ANNOUNCEMENT IS NOT FOR PUBLIC RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR") AS IN FORCE IN THE UNITED KINGDOM PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

4 August 2022

Alkemy Capital Investments Plc

Oversubscribed Placing to raise GBP1,200,000 and Directors Purchase of Shares

Alkemy Capital Investments plc ("Alkemy") (LSE: ALK) and its wholly owned subsidiary Tees Valley Lithium Ltd ("TVL") are pleased to announce the following corporate update.

Highlights:

-- GBP1,200,000 new funds, before expenses, raised by Alkemy from new and existing shareholders through a placing of 1,200,000 new ordinary shares at GBP1 per share.

   --    GBP178,000 of these new shares are being subscribed for by Directors, showing strong support. 

Fundraise and Director Purchase of Shares

Alkemy is pleased to announce that it has raised GBP1,200,000 in an oversubscribed placing of 1,200,000 new ordinary shares at a placing price of GBP1 per share.

This includes cash subscriptions of GBP178,000 from the directors, including Paul Atherley (GBP78,000), Sam Quinn (GBP75,000) and Helen Pein (GBP25,000).

The net proceeds will be used to further fastrack the development of TVL's lithium hydroxide processing faclility in Teesside, UK and for general working capital purposes.

Following the placing, the directors will have the following beneficial shareholdings in the Company:

 
                             Number of Shares   % of enlarged 
                                                      capital 
 Paul Atherley (Chairman)           3,078,000          42.75% 
                            -----------------  -------------- 
 Sam Quinn (Director)                 325,000           4.51% 
                            -----------------  -------------- 
 Helen Pein (Director)                 25,000           0.35% 
                            -----------------  -------------- 
 

An application will be made for 1,200,000 Ordinary Shares to be admitted to the official list (Standard Segment) and to trading on the Main Market of the London Stock Exchange ("Admission") and Admission is expected to occur at 8.00 a.m. on 9 August 2022.

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's enlarged issued ordinary share capital will comprise 7,199,999 Ordinary Shares each with a right to vote and with no shares held 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.

Grant of Share Options

The Company also announces the proposed grant of 590,000 share options at GBP1 per share, for a period of 5 years, to further align Directors and senior management with shareholders. A further announcement will be made once the options have been granted.

Alkemy and TVL Director, Sam Quinn, commented:

"We are grateful to all the existing and new shareholders who have contributed to this fundraise, which will help enable the further fast-tracked development of TVL's lithium hydroxide processing facility in Teesside, UK. Funds will be used to commence and advance FEED and to complete the planning process. We appreciate the ongoing support from all stakeholders and look forward to a successful year ahead as we move to establish the UK's first major independent and sustainable lithium hydroxide producer at the Wilton International Chemicals Park in Teesside, UK".

Further information

For further information, please visit the Company's website: www.alkemycapital.co.uk or www.teesvalleylithium.co.uk

-Ends-

 
Alkemy Capital Investments Plc    Tel: 0207 317 0636 
 Sam Quinn                         info@alkemycapital.co.uk 
Buchanan                          Tel: 0207 466 5000 
 Bobby Morse/Abigail Gilchrist     TVL@buchanan.uk.com 
VSA Capital Limited               Tel: 0203 005 5000 
 Andrew Monk (corporate broking)   amonk@vsacapital.com 
 Andrew Raca (corporate finance)   araca@vsacapital.com 
Shard Capital Partners LLP 
 Damon Heath                        Tel: 0207 186 9952 
                                    damon.heath@shardcapital.com 
 Isabella Pierre                    Tel: 0207 186 9927 
                                    isabella.pierre@shardcapital.com 
 

NOTES TO EDITORS

Alkemy is seeking to develop, construct and operate the world's leading independent and sustainable lithium hydroxide production facility.

Alkemy, through its wholly-owned subsidiary Tees Valley Lithium, has secured exclusivity to negotiate an option to lease over a 9.6ha brownfields site at the Wilton International Chemicals Park located in Teesside, a major UK Freeport.

Alkemy has completed a Class 4 Feasibility Study for its proposed lithium hydroxide facility to process feedstock imported from various sources to produce 96,000 tonnes of premium, low-carbon lithium hydroxide annually, representing around 15% of Europe's projected demand.

Forward Looking Statements

This news release contains forward--looking information. The statements are based on reasonable assumptions and expectations of management and Alkemy provides no assurance that actual events will meet management's expectations. In certain cases, forward--looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Alkemy believes the expectations expressed in such forward--looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include any factors which affect decisions as to how to develop the project, process the materials and exercise the option in respect of the lease, which may include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Alkemy will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward--looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information.

The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to the transaction listed above is set out below.

 
       Details of the person discharging managerial responsibilities 
  1     / person closely associated 
 a)    Name                                     Paul Atherley 
      ---------------------------------------  ------------------------------------- 
       Reason for the notification 
  2 
      ------------------------------------------------------------------------------ 
 a)    Position/status                          Chairman 
      ---------------------------------------  ------------------------------------- 
 b)    Initial notification                     Initial Notification 
        /Amendment 
      ---------------------------------------  ------------------------------------- 
       Details of the issuer, emission allowance market participant, 
  3     auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------ 
 a)    Name                                     Alkemy Capital Investments PLC 
      ---------------------------------------  ------------------------------------- 
 b)    LEI                                      213800NW5GVIRMXSRL48 
      ---------------------------------------  ------------------------------------- 
       Details of the transaction(s): section to be repeated 
  4     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 
        financial instrument, 
        type of instrument 
 
       Identification code                      GB00BMD6C023 
 
 b)    Nature of the transaction                Subscription of shares 
      ---------------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s) 
                                                ----------------  ---------------- 
                                                 Price(s)          Volume(s) 
                                                ----------------  ---------------- 
    GBP1.00                                                        78,000 
   -------------------------------------------------------------  ---------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                      78,000 
 
  - Price                                  GBP78,000 
 
 e)    Date of the transaction                  03/08/2022 
      ---------------------------------------  ------------------------------------- 
 f)    Place of the transaction                 Outside a trading venue 
      ---------------------------------------  ------------------------------------- 
 
 
       Details of the person discharging managerial responsibilities 
  1     / person closely associated 
 a)    Name                                     Sam Quinn 
      ---------------------------------------  ------------------------------------- 
       Reason for the notification 
  2 
      ------------------------------------------------------------------------------ 
 a)    Position/status                          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                                     Alkemy Capital Investments PLC 
      ---------------------------------------  ------------------------------------- 
 b)    LEI                                      213800NW5GVIRMXSRL48 
      ---------------------------------------  ------------------------------------- 
       Details of the transaction(s): section to be repeated 
  4     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 
        financial instrument, 
        type of instrument 
 
       Identification code                      GB00BMD6C023 
 
 b)    Nature of the transaction                Subscription of shares 
      ---------------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s) 
                                                ----------------  ---------------- 
                                                 Price(s)          Volume(s) 
                                                ----------------  ---------------- 
    GBP1.00                                                        75,000 
   -------------------------------------------------------------  ---------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                      75,000 
 
  - Price                                  GBP75,000 
 
 e)    Date of the transaction                  03/08/2022 
      ---------------------------------------  ------------------------------------- 
 f)    Place of the transaction                 Outside a trading venue 
      ---------------------------------------  ------------------------------------- 
 
 
       Details of the person discharging managerial responsibilities 
  1     / person closely associated 
 a)    Name                                     Helen Pein 
      ---------------------------------------  ------------------------------------- 
       Reason for the notification 
  2 
      ------------------------------------------------------------------------------ 
 a)    Position/status                          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                                     Alkemy Capital Investments PLC 
      ---------------------------------------  ------------------------------------- 
 b)    LEI                                      213800NW5GVIRMXSRL48 
      ---------------------------------------  ------------------------------------- 
       Details of the transaction(s): section to be repeated 
  4     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 
        financial instrument, 
        type of instrument 
 
       Identification code                      GB00BMD6C023 
 
 b)    Nature of the transaction                Subscription of shares 
      ---------------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s) 
                                                ----------------  ---------------- 
                                                 Price(s)          Volume(s) 
                                                ----------------  ---------------- 
    GBP1.00                                                        25,000 
   -------------------------------------------------------------  ---------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                      25,000 
 
  - Price                                  GBP25,000 
 
 e)    Date of the transaction                  03/08/2022 
      ---------------------------------------  ------------------------------------- 
 f)    Place of the transaction                 Outside a trading venue 
      ---------------------------------------  ------------------------------------- 
 

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END

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