2 May 2024
Arkle Resources
PLC
("Arkle" or the
"Company")
Placing to Raise
£270,000
Arkle Resources PLC (AIM:ARK), the
Irish Gold and Zinc resources discovery company, is pleased to
announce that it has raised £270,000 (before expenses)
through a placing of 108,000,000 new ordinary shares at a
price of 0.25p 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 0.35p for a period of two
years.
USE
OF FUNDS
The net funds received from the
Placing will be used for the recently announced Lithium exploration
programme 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
Shares subscribed
for
|
Resultant
shareholding
|
% of
enlarged
share
capital
|
|
John Teeling
|
10,000,000
|
51,947,202
|
9.20
|
|
David Cockbill
|
6,000,000
|
13,435,408
|
2.34
|
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 James 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 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 9 May 2024.
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 564,810,997 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.
ENDS
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
|
|
|
Matthew Johnson
|
+44 (0) 203 470
0470
|
|
Adam Cowl
|
|
|
Kasia Brzozowska
|
|
|
|
|
|
First Equity Limited
|
|
|
Joint Broker
|
|
|
Jason Robertson
|
+44 (0) 207 374
2212
|
|
|
|
|
BlytheRay
|
+44 (0) 207 138
3204
|
|
Megan Ray
|
|
|
|
|
|
Teneo
|
|
|
Luke Hogg
|
+353 (0) 1 661
4055
|
|
Alan Tyrrell
|
|
|
Fia Long
|
|
|
Alan Reynolds
|
|
Dealings by Persons Discharging Managerial
Responsibilities
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1)
John Teeling
2)
David Cockbill
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1)
Chairman
2)
Director
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Arkle Resources plc
|
|
b)
|
LEI
|
213800CTOO8MOLMNEQ44
|
|
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 financial
instrument, type of instrument
|
Ordinary
Shares of €0.0025 each.
|
|
|
|
|
Identification code
|
ISIN: IE00B2357X72
|
|
|
|
|
b)
|
Nature of the transaction
|
Participation in Placing
|
|
c)
|
Price(s) and volume(s)
|
|
|
Director
|
Price
|
Volume
|
|
John Teeling
|
0.25p
|
10,000,000
|
|
David Cockbill
|
0.25p
|
6,000,000
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
- Aggregated volume
|
N/A
|
|
|
|
|
- Price
|
0.25 pence
|
|
|
|
|
e)
|
Date of the transaction
|
2 May 2024
|
|
f)
|
Place of the transaction
|
Off-market
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1)
John Teeling
2)
David Cockbill
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1)
Chairman
2)
Director
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Arkle Resources plc
|
|
b)
|
LEI
|
213800CTOO8MOLMNEQ44
|
|
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 financial
instrument, type of instrument
|
Ordinary
Shares of €0.0025 each.
|
|
|
|
|
Identification code
|
ISIN: IE00B2357X72
|
|
|
|
|
b)
|
Nature of the transaction
|
Grant of warrants
|
|
c)
|
Price(s) and volume(s)
|
|
|
Director
|
Price
|
Volume
|
|
John
Teeling
|
0.35p
|
10,000,000
|
|
David Cockbill
|
0.35p
|
6,000,000
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
- Aggregated volume
|
N/A
|
|
|
|
|
- Price
|
0.35 pence
|
|
|
|
|
e)
|
Date of the transaction
|
2 May 2024
|
|
f)
|
Place of the transaction
|
Off-market
|