Amur Minerals Corporation Issue of Equity (2408V)

TIDMAMC

RNS Number : 2408V

Amur Minerals Corporation

02 December 2019

2 December 2019

AMUR MINERALS CORPORATION

(AIM: AMC)

Issue of Equity

Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to announce that certain Directors and Executive Management have today been issued 9,485,828 new Ordinary Shares of the Company ("the Subscription") at a price of 2.06 pence per share for a total value of GBP195,408 as part satisfaction of salaries and fees in order to preserve cash. The Subscription price is at the closing price of Friday 29 November 2019.

The following Directors and Executive Management have participated in the subscription:

 
 Director / Executive             No. Shares       GBP 
 Robert Schafer (Non-executive 
  Chairman)                        1,098,818    22,636 
                                 -----------  -------- 
 Robin Young (Director / CEO)      3,866,524    79,650 
                                 -----------  -------- 
 Paul Gazzard (Non-executive 
  Director)                        1,365,146    28,122 
                                 -----------  -------- 
 Paul McKay (CFO, non-board)       3,155,340    65,000 
                                 -----------  -------- 
 Total                             9,485,828   195,408 
                                 -----------  -------- 
 

Following the Subscription, the Directors and Executive Management participating in this subscription will have the following beneficial interest in the Company's issued Ordinary Capital:

 
                                               % of enlarged 
 Director / Executive             No. Shares         capital 
 Robert Schafer (Non-executive 
  Chairman)                        1,733,792           0.21% 
                                 -----------  -------------- 
 Robin Young (Director / CEO)      6,369,318           0.75% 
                                 -----------  -------------- 
 Paul Gazzard (Non-executive 
  Director)                        1,561,871           0.18% 
                                 -----------  -------------- 
 Paul McKay (CFO, non-board)       3,477,016           0.41% 
                                 -----------  -------------- 
 

Application will be made to the London Stock Exchange plc for 9,485,828 new Ordinary Shares to be admitted to trading on the AIM market with admission expected to occur on or around 6 December 2019. The new Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares including the right to receive any dividend or other distribution thereafter declared, made or paid. There are no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Company, following the issue of 9,485,828 new Ordinary Shares is 845,441,101.

The participants of the subscription are Directors and Executive Management of the Company, and are therefore regarded as a related party as defined by the AIM Rules for Companies (the "AIM Rules"). The Subscription is therefore classified as a related party transaction for the purposes of Rule 13 of the AIM Rules. Tom Bowens, Brian Savage and Ljupco Naumovski, being the independent directors for the purposes of Rule 13, consider, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.

The proceeds of the subscription will be used for working capital.

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.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.

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:                                   1. Robert Schafer 
                                                2. Robin Young 
                                                3. Paul Gazzard 
                                                4. Paul McKay 
      ---------------------------------  ---------------------------------------------- 
 2.    Reason for the notification 
      --------------------------------------------------------------------------------- 
 a)    Position/status:                        1. Non-Executive Chairman 
                                                2. Chief Executive Officer 
                                                3. Non-Executive Director 
                                                4. Chief Financial Officer 
                                                (non-board) 
      ---------------------------------  ---------------------------------------------- 
 b)    Initial notification/Amendment:    Initial notification 
      ---------------------------------  ---------------------------------------------- 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------------- 
 a)    Name:                              Amur Minerals Corporation 
      ---------------------------------  ---------------------------------------------- 
 b)    LEI:                               213800XFW6MKVCHHPW88 
      ---------------------------------  ---------------------------------------------- 
 4a.   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 no 
        instrument, type of instrument:    par value 
        Identification code:               VGG042401007 
      ---------------------------------  ---------------------------------------------- 
 b)    Nature of the transaction:         Purchase of shares 
      ---------------------------------  ---------------------------------------------- 
 c)    Price(s) and volume(s):              Price(s)          Volume(s) 
                                                  1. 2.06 p               1. 1,098,818 
                                                   2. 2.06 p               2. 3,866,524 
                                                   3. 2.06 p               3. 1,365,146 
                                                   4. 2.06 p               4. 3,155,340 
                                                              ------------------------- 
      ---------------------------------  ---------------------------------------------- 
 d)    Aggregated information:            Single transaction as 
        Aggregated volume:                 in 4 c) above Price(s)      Volume(s) 
        Price:                              2.06 pence    9,485,828 
                                                         ---------- 
      ---------------------------------  ---------------------------------------------- 
 e)    Date of the transaction:           2019-11-29 
      ---------------------------------  ---------------------------------------------- 
 f)    Place of the transaction:          Outside of trading venue 
      ---------------------------------  ---------------------------------------------- 
 
 

-ENDS-

 
 
  For further information, please contact: 
 
 
 Company           Nomad and Broker                Public Relations 
  Amur Minerals     S.P. Angel Corporate Finance    Blytheweigh 
  Corp.             LLP 
 Robin Young CEO   Richard Morrison                Megan Ray 
                    Soltan Tagiev                   Tim Blythe 
 [phone]                                   [phone] 
  15               [phone]             3203 
 

For additional information on the Company, visit the Company's website, www.amurminerals.com.

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.

END

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December 02, 2019 02:00 ET (07:00 GMT)