Strategic Minerals PLC Issue of Equity and PDMR Dealing (9023G)

TIDMSML

RNS Number : 9023G

Strategic Minerals PLC

01 June 2017

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.

1 June 2017

Strategic Minerals plc

("Strategic Minerals" or the "Company" or "SML")

Issue of Equity and PDMR Dealing

Strategic Minerals PLC (AIM: SML; USOTC; SMCDY), the diversified mineral production and development company, announces that the Company has issued 19,000,000 new ordinary shares of 0.1p each in the Company ("New Ordinary Shares") to shareholders in Rarus Limited ("Rarus"), pursuant to its agreement to acquire the balance of Rarus' shares in Central Australian Rare Earths Pty Ltd, as announced on 5 May 2017.

Application has been made for the New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). Admission is expected to occur on or around 6 June 2017.

PDMR Dealing

Alan Broome, Chairman of SML and a non-executive director of Rarus, has today been issued with 147,319 ordinary shares of 0.1 p each ("Ordinary Shares") by Rarus, in lieu of consideration due to Alan Broome in his capacity as a director of Rarus. Further details of this share dealing are set out below.

Total voting rights

Following the issue of the New Ordinary Shares, the total issued share capital of the Company consists of 1,245,825,560 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 1,245,825,560 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Market Abuse Regulation (MAR) Disclosure

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:

 
 1.   Details of the person discharging managerial 
       responsibilities/person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name:                              Alan Broome 
---  ---------------------------------  ---------------------------------------- 
 2.   Reason for the notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status:                   Non-Executive Chairman 
---  ---------------------------------  ---------------------------------------- 
 b)   Initial notification/Amendment:    Initial notification 
---  ---------------------------------  ---------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------------------- 
 a)   Name:                              Strategic Minerals 
                                          plc 
---  ---------------------------------  ---------------------------------------- 
 b)   LEI:                               213800DICA5NPVOJT776 
---  ---------------------------------  ---------------------------------------- 
 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 
       instrument, type of instrument:    of 0.1p each 
       Identification code: 
                                          GB00B4W8PD74 
---  ---------------------------------  ---------------------------------------- 
 b)   Nature of the transaction:         Consideration in 
                                          lieu of fees 
---  ---------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s):              Price(s)    Volume(s) 
                                           ----------  ---------- 
                                            2.75 
                                             pence      147,319 
---  ---------------------------------  ---------------------------------------- 
 d)   Aggregated information:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)    Volume(s) 
       Price:                             ----------  ---------- 
                                           2.75 
                                            pence      147,319 
---  ---------------------------------  ---------------------------------------- 
 e)   Date of the transaction:           1 June 2017 
                                          10:00 am GMT 
---  ---------------------------------  ---------------------------------------- 
 f)   Place of the transaction:          Outside a trading 
                                          venue 
---  ---------------------------------  ---------------------------------------- 
 

For further information, please contact:

Strategic Minerals plc [phone]

John Peters

Managing Director

www.strategicminerals.net

Follow Strategic Minerals on:

Vox Markets: www.voxmarkets.co.uk/company/SML

   Twitter:           @SML_Minerals 
   LinkedIn:         www.linkedin.com/company/strategic-minerals-plc 
   Facebook:       https://www.facebook.com/search/top/?q=strategic%20minerals%20plc 
 
 SP Angel Corporate Finance LLP 
  Nominated Adviser and Joint Broker      [phone] 
  Ewan Leggat                              0470 
 Optiva Securities Limited 
  Joint Broker                           [phone] 
  Graeme Dickson                          1880 
 Yellow Jersey PR 
  Financial PR 
  Alistair de Kare-Silver 
  Felicity Winkles                       +44 (0)7825 
  Joe Burgess                             916 715 
 

Notes to Editors

Strategic Minerals Plc is an AIM-quoted, diversified mineral development and production company with projects in the United States of America, the UK and Australia. The Company is focused on acquiring and developing cash generative, high quality projects which meet local market demand for commodities and utilising this cash flow to undertake value added exploration.

In September 2011, Strategic Minerals purchased its first cash generating asset; the Cobre magnetite tailings dam project in New Mexico, USA which it brought into production in 2012 and which continues to provide a revenue stream for the Company. The portfolio was expanded in January 2016 with the acquisition of shares in Central Australian Rare Earths Pty Ltd, which holds tenements in Western Australia and the Northern Territory that are prospective for cobalt, gold, nickel sulphides and rare earths. The Company has since acquired all shares in Central Australian Rare Earths Pty Ltd. In May 2016, an additional exploration asset was acquired when the company entered into an agreement with New Age Exploration Limited to acquire up to 50% of the Redmoor Tin/Tungsten project in Cornwall, UK. This 50% acquisition has now been completed and drilling at the project has commenced.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 01, 2017 09:43 ET (13:43 GMT)