Arkle Resources PLC Placing to Raise GBP215,000 (6060T)

TIDMARK

RNS Number : 6060T

Arkle Resources PLC

16 November 2023

16 November 2023

Arkle Resources PLC

("Arkle" or the "Company")

Placing to Raise GBP215,000

Arkle Resources PLC (AIM:ARK), the Irish Gold and Zinc resources discovery company, is pleased to announce that it has raised GBP215,000 (before expenses) through a placing of 61,428,571 new ordinary shares at a price of 0.35p per share (the "Placing Shares") (the "Placing"). Each Placing Share has one warrant attached with the right to subscribe for one new ordinary share at 0.35p for a period of two years.

USE OF FUNDS

The net funds received from the Placing will be used for the recently announced Lithium exploration programme as well as for general corporate activities.

DIRECTOR PARTICIPATION

John Teeling and James Finn, both directors of the Company, have participated in the Placing on the same terms as described above as follows:

 
                     No. of Placing       Resultant    % of enlarged 
                  Shares subscribed    shareholding    share capital 
                                for 
 John Teeling            28,571,429      41,947,202             9.18 
                -------------------  --------------  --------------- 
 James Finn              14,285,714      28,349,241             6.21 
                -------------------  --------------  --------------- 
 

RELATED PARTY TRANSACTION

The participation of John Teeling and James Finn in the Placing is a related party transaction for the purposes of AIM Rule 13 of the AIM Rules for Companies. The Director independent of the Placing (being David Cockbill) considers, having consulted with SP Angel Corporate Finance LLP, the Company's Nominated Adviser, that the participation in the Placing by Mr Teeling and Mr Finn is fair and reasonable in so far as Arkle's shareholders are concerned.

ADMISSION AND TOTAL VOTING RIGHTS

An application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Placing Shares on AIM will commence on or around 23 November 2023.

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that on completion of the Placing and following Admission, the Company's enlarged issued ordinary share capital will comprise 456,810,997 Ordinary Shares.

The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.

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.

S 

Enquiries:

 
Arkle Resources PLC 
John Teeling, Chairman               [phone] 
Jim Finn, Finance Director          [phone] 
 
SP Angel Corporate Finance LLP 
 Nominated Adviser & Joint Broker 
                                     [phone] 
Matthew Johnson/ Adam Cowl            0470 
 
First Equity Limited 
Joint Broker 
                                     [phone] 
Jason Robertson                       2212 
 
                                     [phone] 
BlytheRay                             3204 
Megan Ray 
 
Teneo 
Luke Hogg                            [phone] 
 
 

Dealings by Persons Discharging Managerial Responsibilities

 
        Details of the person discharging managerial responsibilities 
   1     / person closely associated 
 a)     Name                      1) John Teeling 
                                   2) James Finn 
       ------------------------  ----------------------------------------- 
        Reason for the notification 
  2 
       ------------------------------------------------------------------- 
 a)     Position/status           1) Chairman 
                                   2) Finance Director 
       ------------------------  ----------------------------------------- 
 b)     Initial notification       Initial Notification 
         /Amendment 
       ------------------------  ----------------------------------------- 
        Details of the issuer, emission allowance market participant, 
  3      auction platform, auctioneer or auction monitor 
       ------------------------------------------------------------------- 
 a)     Name                       Arkle Resources plc 
       ------------------------  ----------------------------------------- 
 b)     LEI                       213800CTOO8MOLMNEQ44 
       ------------------------  ----------------------------------------- 
        Details of the transaction(s): section to be repeated for 
  4      (i) each type of instrument; (ii) each type of transaction; 
         (iii) each date; and (iv) each place where transactions have 
         been conducted 
       ------------------------------------------------------------------- 
 a)     Description               Ordinary Shares of EUR0.0025 each. 
         of the financial 
         instrument, 
         type of instrument 
 
        Identification            ISIN: IE00B2357X72 
         code 
 
 b)     Nature of                 Participation in Placing 
         the transaction 
       ------------------------  ----------------------------------------- 
 c)     Price(s)                    Director        Price       Volume 
         and volume(s)               John Teeling    0.35p   28,571,429 
                                                    ------  ----------- 
                                     James Finn      0.35p   14,285,714 
                                                    ------  ----------- 
       ------------------------  --------------------------------------- 
 d)     Aggregated 
         information 
 
  - Aggregated 
   volume                         42,857,139 
 
  - Price                         0.35 pence 
 
 e)     Date of the               15 November 2023 
         transaction 
       ------------------------  ----------------------------------------- 
 f)     Place of                  Off-market 
         the transaction 
       ------------------------  ----------------------------------------- 
 
 
        Details of the person discharging managerial responsibilities 
   1     / person closely associated 
 a)     Name                      3) John Teeling 
                                   4) James Finn 
       ------------------------  ----------------------------------------- 
        Reason for the notification 
  2 
       ------------------------------------------------------------------- 
 a)     Position/status           3) Chairman 
                                   4) Finance Director 
       ------------------------  ----------------------------------------- 
 b)     Initial notification       Initial Notification 
         /Amendment 
       ------------------------  ----------------------------------------- 
        Details of the issuer, emission allowance market participant, 
  3      auction platform, auctioneer or auction monitor 
       ------------------------------------------------------------------- 
 a)     Name                       Arkle Resources plc 
       ------------------------  ----------------------------------------- 
 b)     LEI                       213800CTOO8MOLMNEQ44 
       ------------------------  ----------------------------------------- 
        Details of the transaction(s): section to be repeated for 
  4      (i) each type of instrument; (ii) each type of transaction; 
         (iii) each date; and (iv) each place where transactions have 
         been conducted 
       ------------------------------------------------------------------- 
 a)     Description               Ordinary Shares of EUR0.0025 each. 
         of the financial 
         instrument, 
         type of instrument 
 
        Identification            ISIN: IE00B2357X72 
         code 
 
 b)     Nature of                 Granting of warrants 
         the transaction 
       ------------------------  ----------------------------------------- 
 c)     Price(s)                    Director        Price       Volume 
         and volume(s)               John Teeling    0.35p   28,571,429 
                                                    ------  ----------- 
                                     James Finn      0.35p   14,285,714 
                                                    ------  ----------- 
       ------------------------  --------------------------------------- 
 d)     Aggregated 
         information 
 
  - Aggregated 
   volume                         42,857,139 
 
  - Price                         0.35 pence 
 
 e)     Date of the               15 November 2023 
         transaction 
       ------------------------  ----------------------------------------- 
 f)     Place of                  Off-market 
         the transaction 
       ------------------------  ----------------------------------------- 
 

, 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 [e-mail] or visit www.rns.com. 

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IOEFLFIDLTLELIV

(END) Dow Jones Newswires

November 16, 2023 02:00 ET (07:00 GMT)