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Issue of Shares

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RNS Number : 2166S
Arc Minerals Limited
04 November 2019
 

4 November 2019

Arc Minerals Ltd 

('Arc' or the 'Company')

Issue of Shares

Under the Drill for Equity Programme as first announced on 29 July 2019, the Company has today issued 2,792,662 shares at a price of 3.1 pence per share ('Drilling Shares') representing payment of GBP 86,573 in part-settlement of the Company's share of drilling costs incurred in September 2019, with the balance of GBP 13,852 payable in cash.

 

The Company has also issued 7,916,165 shares at a price of 3.1 pence per share ('Settlement Shares') to an historic creditor representing payment of GBP 245,401.

 

The Drilling Shares and Settlement Shares are subject to certain trading restrictions to the volume that can be traded, which Arc will continue to monitor.

 

Application has been made for the Drilling Shares and the Settlement Shares to be admitted to trading on the AIM market of the London Stock Exchange ('Admission'). The Shares will rank pari passu in all respects with the existing shares. Admission is expected to occur on or around 8 November 2019.

Total Voting Rights

Following the issue of the Shares, the total issued share capital of the Company will consist of 737,927,497 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 737,927,497 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change in their interest in, the share capital of the Company.

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 & Broker)

Ewan Leggat / Soltan Tagiev

 

+44 (0) 20 3470 0470

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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