Unicorn Mineral
Resources
("Unicorn" or "the
company")
9 December
2024
Subscription for £366,544
Convertible Loan Notes
Unicorn Mineral Resources Plc (LSE:
UMR) is pleased to announce that, further to the statement made at
the AGM in October 2024 regarding the potential issue of the
remaining convertible loan notes, the Company has received signed
subscription letters for £366,544 convertible loan notes
("Subscription"). This completes the issue of all £600,000
notes that were constituted on 13 December 2023 ("Loan Notes") and
will be converted into 6,000,000 new ordinary shares €0.01 each of
the Company ("Shares"). The funds raised by the Subscription
will be used for general working capital purposes, for exploration
at Kilmallock and Lisheen and for due diligence on prospects in
Africa.
The Loan Notes are due to be
redeemed or converted by 31 December 2024. Conversion of the
Loan Notes is subject to the publication of an FCA approved
prospectus. The conversion price is 10p per Share. The
Company and its advisers anticipate being able to publish the
required prospectus within the required time frame.
The Subscription has been taken up
by Electro Automation Group Limited ("Electro Automation"), which
is owned and managed by Patrick Doherty, the Company's Chairman,
and by Gathoni Muchai Investments Limited ("GMI"), a company of
which Jason Brewer, the Company's Executive Director, and his wife
are co-founders and directors. Electro Automation and GMI
have each subscribed for £183,272 Loan Notes.
Following the Subscription, the
holdings of Mr Doherty and Mr Brewer in the Loan Notes will be as
follows:
|
|
CLNs (Post
Subscription)
|
% of
CLNs
|
|
Mr Doherty1
|
£250,501
|
41.8
|
|
Mr Brewer2
|
£185,309
|
30.9
|
Notes:
1. £6,104 Loan
Notes are held by Mr Doherty and £244,397 are held by Electro
Automation.
2. Mr Brewer's
interest is held by GMI.
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended).
For
further information, please visit www.UnicornMineralResources.com or
contact:
|
Unicorn Mineral Resources Plc
John O'Connor, CFO
Tel: +353 86 259 5123
Email:
John.OConnor@UMR.ie
|
Novum Securities Limited - Financial Adviser and
Broker
David Coffman / George
Duxberry
Colin Rowbury
Tel: +44 (0)207 399 9400
|
|
Gathoni Muchai Investments
Faith Kinyanjui Mumbi
info@gathonimuchaiinvestments.com
|
|