Karelian Diamond Res. Capital raising and Total voting rights

 
TIDMKDR 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation (EU) No 596/2014. With the publication of this 
announcement via a Regulatory Information Service ("RIS"), this inside 
information is now considered to be in the public domain. 
 
                                                               21 December 2016 
 
                Karelian Diamond Resources plc (the "Company") 
 
                                CAPITAL RAISING 
 
                              TOTAL VOTING RIGHTS 
 
                     Placing to raise GBP425,000 (EUR505,000) 
 
*          Placing of 94,444,444 new ordinary shares at 0.45 pence per share 
together with 31,481,481 warrants to raise GBP425,000 (EUR505,000) before expenses 
and issue of 15,740,741 Broker Warrants 
 
*          Proceeds of the placing to be applied to fund the advancement of the 
Company's principal diamond opportunities and in particular the Lahtojoki 
Diamond Project, its exploration at Riihivaara and for working capital 
 
Karelian Diamond Resources plc (AIM: KDR, ESM: KDRI), the diamond exploration 
company focused on Finland, is pleased to announce that it has conditionally 
raised GBP425,000 (ca.EUR505,000), prior to expenses, through a placing (the 
"Placing") of 94,444,444 ordinary shares of EUR0.00001 in the capital of the 
Company (the "Placing Shares") and 31,481,481 warrants all at an exercise price 
of 0.8 pence per warrant (the "Warrants"), together the "Placing Units", at a 
price of 0.45 pence per Placing Unit (the "Placing Price"). 
 
The Placing is conditional, inter alia, on admission of the Placing Shares to 
trading on AIM and the Enterprise Securities Market operated by the Irish Stock 
Exchange Limited ("ESM").  The Placing Shares will rank pari passu with the 
existing issued ordinary shares of EUR0.00001 in the capital of the Company 
("Ordinary Shares"). 
 
The Warrants can be exercised at any time from admission of the Placing Shares 
to the second anniversary of the anticipated admission of the Placing Shares, 
being 29 December 2018. 
 
The Company intends to use the proceeds of the Placing to fund the advancement 
of the Company's principal diamond opportunities and in particular the recently 
acquired Lahtojoki Diamond Project, its exploration at Riihivaara where the 
Company has discovered a potential new diamond source and for working capital 
generally. 
 
As part of the Placing, certain of the Directors have subscribed for an 
aggregate of 16,666,667 Placing Units, consisting of 16,666,667 Placing Shares 
and 5,555,555 Warrants. The Directors' participation in the Placing and their 
resultant shareholding following admission of the Placing Shares to trading 
("Admission") is as follows: 
 
                                 Placing                     Percentage 
                                 Shares                      interest in 
                 Placing         subscribed  Resultant       the enlarged   Warrants 
Director         participation   for         Shareholding    issued share   received 
                                                             capital 
 
                 GBP               No.         No.                            No. 
 
Professor 
Richard Conroy            67,500  15,000,000      91,806,168          22.27  5.000,000 
 
Maureen Jones              4,500   1,000,000       7.110,875           1.72   3333,333 
 
James P. Jones             3,000     666,667       4,481,539           1.09   2222,222 
 
                          75,000  16,666,667     103,398,582          25.08  5,555,555 
 
The participation of Professor Richard Conroy, Maureen Jones and James P Jones 
in the Placing is a related party transaction pursuant to Rule 13 of the AIM 
Rules for Companies. The independent directors of the Company (being Séamus 
FitzPatrick, Louis Maguire, and Sor?a Conroy), having consulted with the 
Company's Nominated Adviser and ESM adviser, consider the terms of the Placing 
to be fair and reasonable insofar as the Shareholders are concerned. 
 
Application has been made to AIM and ESM for the Placing Shares to be admitted 
to trading.  It is expected that admission will become effective on 29 December 
2016. 
 
Following the issue of the Placing Shares, and for the purposes of the 
Disclosure and Transparency Rules, the Company's total issued share capital on 
Admission will consist of 412,229,478 [JT1] Ordinary Shares. 
 
The above figure may be used by shareholders as the denominator for the 
calculations by which they will determine if they are required to notify their 
interest in, or a change to their interest in, the Company, under the 
Disclosure and Transparency Rules. 
 
In conjunction with the Placing the Company is issuing 15,740,741 Broker 
Warrants, also exercisable at 0.8 pence per warrant until 29 December 2018, to 
Beaufort Securities. 
 
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented: 
 
"The Placing provides the funds to enable the Company to step up its 
activities, in particular at Lahtojoki where we are looking to develop a mine. 
With the funds raised we can start to demonstrate the potential this project 
has to offer and also further the work at Riihivaara where the Company has 
discovered a potential new diamond source". 
 
Further Information: 
 
Professor Richard Conroy, Chairman, Karelian Diamond         Tel: [phone] 
Resources plc 
 
David Hart/James Thomas/Nick Harriss, Allenby Capital        Tel: [phone] 
Limited (Nomad) 
 
Ger Heffernan/Jan Fitzell, IBI Corporate Finance Limited     Tel: [phone] 
(ESM Adviser) 
 
Jon Belliss/Elliot Hance, Beaufort Securities Limited        Tel: [phone] 
(Broker) 
 
Michael Padley, Lothbury Financial Services Limited          Tel: [phone] 
 
Don Hall, Hall Communications                                Tel: [phone] 
 
http://www.kareliandiamondresources.com 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation (EU) No 596/2014. The information set out below is 
provided in accordance with the requirements of Article 19(3) of that 
Regulation. 
 
1   Details of the person discharging managerial responsibilities/person 
    closely  associated 
 
a)  Name                            Professor Richard Thomas Walter 
                                    Lawrence Conroy 
 
2   Reason for the notification 
 
a)  Position/status                  Director of the Company 
 
b)  Initial notification /Amendment  Initial notification 
 
3   Details of the issuer, emission allowance market participant, auction 
    platform, auctioneer or auction monitor 
 
a)  Name                            Karelian Diamond Resources plc 
 
b)  LEI                             N/A 
 
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    Ordinary Shares of EUR0.00001 each 
    instrument, type of instrument  ("Ordinary Shares") 
 
 
 
    Identification code             ISIN for Karelian Diamond Resources plc 
                                    Ordinary Shares: 
                                    IE00B01ZSK94 
 
b)  Nature of the transaction       Purchase of shares via a placing 
 
c)  Price(s) and volume(s)          Price - 0.45 pence per ordinary share 
                                    Volume - 15,000,000 Ordinary Shares 
 
d)  Aggregated information          N/A 
    - Aggregated volume 
    - Price 
 
e)  Date of the transaction         21 December 2016 
 
f)  Place of the transaction        Outside a trading venue 
 
 
 
1   Details of the person discharging managerial responsibilities/person 
    closely  associated 
 
a)  Name                            Maureen Theresa Anne Jones 
 
2   Reason for the notification 
 
a)  Position/status                  Director of the Company 
 
b)  Initial notification /Amendment  Initial notification 
 
3   Details of the issuer, emission allowance market participant, auction 
    platform, auctioneer or auction monitor 
 
a)  Name                            Karelian Diamond Resources plc 
 
b)  LEI                             N/A 
 
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    Ordinary Shares of EUR0.00001 each 
    instrument, type of instrument  ("Ordinary Shares") 
 
 
 
    Identification code             ISIN for Karelian Diamond Resources plc 
                                    Ordinary Shares: 
                                    IE00B01ZSK94 
 
b)  Nature of the transaction       Purchase of shares via a placing 
 
c)  Price(s) and volume(s)          Price - 0.45 pence per ordinary share 
                                    Volume - 1,000,000 Ordinary Shares 
 
d)  Aggregated information          N/A 
    - Aggregated volume 
    - Price 
 
e)  Date of the transaction         21 December 2016 
 
f)  Place of the transaction        Outside a trading venue 
 
 
 
1   Details of the person discharging managerial responsibilities/person 
    closely  associated 
 
a)  Name                             James ("Jim") Patrick Jones 
 
2   Reason for the notification 
 
a)  Position/status                  Director of the Company 
 
b)  Initial notification /Amendment  Initial notification 
 
3   Details of the issuer, emission allowance market participant, auction 
    platform, auctioneer or auction monitor 
 
a)  Name                            Karelian Diamond Resources plc 
 
b)  LEI                             N/A 
 
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    Ordinary Shares of EUR0.00001 each 

    instrument, type of instrument  ("Ordinary Shares") 
 
 
 
    Identification code             ISIN for Karelian Diamond Resources plc 
                                    Ordinary Shares: 
                                    IE00B01ZSK94 
 
b)  Nature of the transaction       Purchase of shares via a placing 
 
c)  Price(s) and volume(s)          Price - 0.45 pence per ordinary share 
                                    Volume - 666,667 Ordinary Shares 
 
d)  Aggregated information          N/A 
    - Aggregated volume 
    - Price 
 
e)  Date of the transaction         21 December 2016 
 
f)  Place of the transaction        Outside a trading venue 
 
 [JT1]Ger - we calculated this figure as 94,444,444 + 317,785,034. Given we 
have defined Placing Shares and the Company released an Issued Share Capital 
Announcement on 12 December quoting the 317,785,034 number, I do not think that 
we need to expand this section with any further explanation provided you agree 
with these figures. 
 
 
 
END 
 

(END) Dow Jones Newswires

December 21, 2016 08:23 ET (13:23 GMT)