Arc Minerals Limited Change of Accounting Reference Date (9627P)
23 February 2021 - 6:00PM
UK Regulatory
TIDMARCM
RNS Number : 9627P
Arc Minerals Limited
23 February 2021
23 February 2021
Arc Minerals Ltd
('Arc' or the 'Company' or the 'Group')
Change of Accounting Reference Date
Arc Minerals Ltd announces that the Board has decided to change
the Company's Accounting Reference Date ("ARD") from 31 March to 31
December, which aligns the ARD to the operations of the Group. The
decision was made after consulting with the Company's Auditors and
Nominated Advisor. Accordingly, the next Annual Report and Accounts
of the Group will be prepared for the nine-month period 1 April to
31 December 2020, will be due for publishing by 30 June 2021. The
Group's interim accounts for the six months ended 30 June 2021 will
be published by 30 September 2021.
Issue of Option Shares and Consideration Shares
The Company further announces that it received notice dated 21
February 2021 from a former director of the Company to exercise
options over a total of 1,200,000 new Ordinary Shares of no par
value in the share capital of the Company (the "Option Shares") at
a price of 4.5 pence per share. Accordingly, the Company preparing
to issue the Option Shares for an aggregate cash consideration of
GBP54,000.
The Company has also issued 1,200,000 new Ordinary Shares of no
par value in the share capital of the Company to a service provider
for consulting services rendered to the Company ("Consideration
Shares").
Application has been made to the London Stock Exchange plc for
the 1,200,000 Option Shares and 1,200,000 Consideration Shares
(together, "New Ordinary Shares") to be admitted to trading on AIM
("Admission") with Admission expected to occur on or around 26
February 2021. The New Ordinary Shares will rank pari passu in all
respects with the existing Ordinary Shares including the right to
receive any dividend or other distribution thereafter declared,
made or paid. There are no Ordinary Shares held in treasury.
Following Admission of the 2,400,000 New Ordinary Shares the total
number of voting rights in the Company will be 1,047,464,936.
Block Listing Application
Further to the block admission application as announced on 21
September 2020, the Company announces that an application has been
made to the London Stock Exchange for an additional block admission
of up to 188,066,381 ordinary shares of no par value in the Company
(the "Block Admission Shares") to be admitted to trading on AIM
(the "Block Admission") in connection with certain existing
warrants over ordinary shares granted by the Company according to
the below table. It is expected that the Block Admission will occur
on or around 26 February 2021.
Number Exercise Expiration
of Warrants Price Date
------------- ----------- ------------
56,674,971 3.00 pence 17 Jun 2022
337,500 4.00 pence 09 Nov 2021
1,789,000 4.50 pence 01 Apr 2021
63,600,009 4.50 pence 19 Feb 2022
10,000,000 4.50 pence 01 Jul 2022
5,764,887 4.50 pence 17 Jun 2024
5,500,000 4.50 pence 04 Dec 2024
44,400,014 6.50 pence 10 Oct 2021
188,066,381
=============
The New Ordinary Shares may be issued from time-to-time pursuant
to the exercise of existing warrants. If and when issued, the New
Ordinary Shares will rank pari passu in all respects with the
existing ordinary shares of the Company.
The Company will make six-monthly announcements regarding the
utilisation of the block admission.
The total number of warrants over ordinary shares of the Company
that are outstanding as at the date of this announcement, including
the warrants listed in the table above, is 220,454,815.
For more information visit www.arcminerals.com .
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
Contacts
Arc Minerals Ltd
Nick von Schirnding (Chairman) +44 (0) 20 7917 2942
SP Angel (Nominated Adviser
& Joint Broker)
Ewan Leggat / Adam Cowl +44 (0) 20 3470 0470
WH Ireland Limited (Joint Broker)
Harry Ansell / Katy Mitchell +44 (0) 20 7220 1666
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