Hummingbird Resources PLC Result of Open Offer and Director Dealing (5049S)

TIDMHUM

RNS Number : 5049S

Hummingbird Resources PLC

10 March 2023

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

10 March 2023

Hummingbird Resources pl c

("Hummingbird" or the "Company")

Result of Open Offer and Director Dealing

On 22 February 2023, Hummingbird (AIM: HUM) provided a Strategic Investment and Placement Update and Notice of General Meeting, highlighting that the Company would be providing shareholders in the Company with the opportunity to subscribe for new Ordinary Shares at the same price as CIG SA ("CIG") (the "CIG Investment") of US$15 million and certain existing institutional shareholders ("the Subscription") of c.US$1.4 million through an open offer to raise up to an additional c.US$2.4 million (the "Open Offer").

The Company announces the closing of the Open Offer, and that it has received valid applications, including those received under the Excess Application Facility, in respect of a total of 7,920,997 new Ordinary Shares, totalling c.GBP617,046 (c.US$734,579). Qualifying Shareholders who have validly applied for Open Offer Shares pursuant to their Basic and Excess Shares Entitlement, will receive their application in full.

The issue of the CIG Second Tranche Shares, the Subscription Shares and the Open Offer Shares are conditional on the passing of Resolutions at the General Meeting to be held on 13 March 2023. The Company will announce the result of the General Meeting, and an updated total voting rights figure, after it has concluded.

Should the Resolutions be passed at the General Meeting, the sum of the CIG Investment, the Subscription and the Open Offer (together the "Placement"), would result in total gross proceeds for the Company of c.US$17.1 million .

Further, the Company announces that Thomas Hill, Finance Director of the Company, has participated in the transfer of 23,933 Ordinary Shares from his spouse's broking account to his broking account and then to his ISA (the "Transfer") and has separately applied for 83,339 Open Offer Shares.

Following the Transfer, and on the basis that the Resolutions are passed at the General Meeting in relation to the Open Offer, Thomas Hill will be beneficially interested in, in aggregate, of 491,574 Ordinary Shares.

Unless otherwise defined, capitalised terms have the same meaning as per the Company's circular dated 22 February 2023.

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                              Thomas Hill 
     --------------------------------  ---------------------------------------- 
 2.   Reason for the Notification 
     -------------------------------------------------------------------------- 
 a)   Position/status                   Finance Director 
     --------------------------------  ---------------------------------------- 
 b)   Initial notification/amendment    Initial notification 
     --------------------------------  ---------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------- 
 a)   Name                              Hummingbird Resources Plc 
     --------------------------------  ---------------------------------------- 
 b)   LEI                               213800PBYMQ6Z2D7UZ96 
     --------------------------------  ---------------------------------------- 
 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 1 penny each 
       instrument, type of instrument 
     --------------------------------  ---------------------------------------- 
      Identification code               GB00B60BWY28 
     --------------------------------  ---------------------------------------- 
 b)   Nature of the Transaction         Transfer of 23,933 Ordinary Shares 
                                         from his spouse's broking account 
                                         to his broking account, and subsequent 
                                         sale and re-purchase into his ISA 
                                         of the same number of Ordinary Shares 
     --------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s)             Price(s)                Volume(s) 
                                          n/a (as a transfer)     23,933 
                                                                 ---------- 
                                          7.00 pence sale         23,933 
                                                                 ---------- 
                                          7.125 pence purchase    23,933 
                                                                 ---------- 
     --------------------------------  ---------------------------------------- 
 d)   Aggregated information            N/A 
       Aggregated volume Price 
     --------------------------------  ---------------------------------------- 
 e)   Date of the transaction           08/03/2023 
     --------------------------------  ---------------------------------------- 
 f)   Place of the transaction          London 
     --------------------------------  ---------------------------------------- 
 

**ENDS**

Notes to Editors:

Hummingbird Resources plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold production, development and exploration Company, member of the World Gold Council and founding member of Single Mine Origin (www.singlemineorigin.com). The Company currently has two core gold projects, the operational Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which will more than double current gold production when production, scheduled for first gold pour end of Q2 2023. Further, the Company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by Pasofino Gold Limited through an earn-in agreement. The final feasibility results on Dugbe showcase 2.76Moz in Reserves and strong economics such as a 3.5-year capex payback period once in production, and a 14-year life of mine at a low AISC profile. Our vision is to continue to grow our asset base, producing profitable ounces, while central to all we do being our Environmental, Social & Governance ("ESG") policies and practices.

   For further information, please visit   hummingbirdresources.co.uk   or contact: 
 
 Daniel Betts,         Hummingbird Resources       Tel: [phone] 
  CEO                   plc                         6660 
  Thomas Hill, 
  FD 
  Edward Montgomery, 
  CD 
 James Spinney         Strand Hanson Limited       Tel: [phone] 
  Ritchie Balmer        Nominated Adviser           3494 
                      --------------------------  ---------------------------- 
 James Asensio         Canaccord Genuity Limited   Tel: [phone] 
  Gordon Hamilton       Broker                      8000 
                      --------------------------  ---------------------------- 
 Bobby Morse           Buchanan                    Tel: [phone] 
  Oonagh Reidy          Financial PR/IR             5000 
  George Cleary                                     Email: [e-mail] 
                      --------------------------  ---------------------------- 
 

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 [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

MSCZZGGFRLMGFZM

(END) Dow Jones Newswires

March 10, 2023 02:00 ET (07:00 GMT)