URU Metals Limited Accounts Update and Suspension of Trading (6742K)
22 Décembre 2022 - 4:41PM
UK Regulatory
TIDMURU
RNS Number : 6742K
URU Metals Limited
22 December 2022
22 December 2022
URU Metals Limited
("URU" or "the Company")
Update on Annual Report and Interim Report
Suspension of trading in shares
Further to the announcement of 30 September 2022, URU announces
that the annual audit is still in progress and the Company will not
be in a position to publish its annual report and accounts for the
year ended 31 March 2022 ("FY22") by 31 December 2022, being the
deadline provided by AIM Rule 19 and the three month extension
granted to the Company for Covid related delays.
The Company will not be in a position to finalise and announce
the interim report and accounts for the six month period ending 30
September 2022 ("Interims") by 31 December 2022, being the deadline
provided by AIM Rule 18, as a consequence of the delay to the
completion of the annual audit for FY22.
Consequently, the Company's shares will be suspended from
trading on AIM with effect from 3 January 2023, pending publication
of the annual audited accounts for FY22 and the announcement of the
Interims.
The Company expects to announce the FY22 results, publish the
FY22 annual report and accounts and announce the Interims no later
than 31 January 2023.
Further updates will be made as appropriate.
Cash and Banking Update
The Company held cash and cash equivalents of approximately
GBP180,000 c.US$220,000 as at 30 November 2022. As announced on 31
May 2022, the Company has agreed to extend the repayment date and
long-stop date for conversion of the convertible loan notes held by
Boothbay Absolute Return Strategies LP ("Boothbay") to 31 May 2023
(the "Maturity Date") (previously the maturity date was 31 May
2022). The date by which Boothbay has the right to convert funds
due under the loan note at GBP0.85 per new ordinary share of the
Company ("Ordinary Shares") has also been extended to the Maturity
Date. As consideration for the extension Boothbay agreed: (i) to
pay to URU consideration of US$100,000 (the "Extension Fee"), which
has been paid to URU; and (ii) that it would not convert sums due
to Boothbay under the convertible loan note on or prior to 31
August 2022.
Details regarding the convertible loan note were announced by
the Company on 6 May 2020, and the maturity date for the note has
been extended on a number of occasions by agreement of the parties.
As at 30 September 2022 the total amount advanced by Boothbay to
the Company is US$500,000 and none of his amount has yet been
converted into Ordinary Shares.
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.
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer) +1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat / Harry Davies-Ball + 44 (0) 203 470 0470
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END
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