Arkle Resources PLC Placing to Raise GBP200,000 (2067G)

TIDMARK

RNS Number : 2067G

Arkle Resources PLC

14 November 2022

14 November 2022

Arkle Resources PLC

("Arkle" or the "Company")

Placing to Raise GBP200,000

Arkle Resources (AIM:ARK), the Irish Gold and Zinc resources discovery company, is pleased to announce that it has raised GBP200,000 (before expenses) through a placing of 50,000,000 new ordinary shares at a price of 0.4p 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 0.5p for a period of two years.

USE OF FUNDS

The net funds received from the Placing will be used for the anticipated drilling programme for zinc in Limerick at the Stonepark Joint Venture as well as for general corporate activities.

DIRECTOR PARTICIPATION

John Teeling and David Cockbill, 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               2,500,000      13,375,773             3.38 
                  -------------------  --------------  --------------- 
 David Cockbill             2,500,000       7,435,408             1.88 
                  -------------------  --------------  --------------- 
 

RELATED PARTY TRANSACTION

The participation of John Teeling and David Cockbill 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 Jim Finn) 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 Cockbill is fair and reasonable in so far as Arkle's shareholders are concerned.

ADMISSION, WARRANTS 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 21 November 2022.

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 395,382,426 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] 
Blytheweigh                           3204 
Megan Ray 
Rachael Brooks 
 
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) David Cockbill 
       ----------------------  ---------------------------------------------- 
        Reason for the notification 
  2 
       ---------------------------------------------------------------------- 
 a)     Position/status         1) Chairman 
                                 2) Non-Executive 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       0.4 pence   2,500,000 
                                                    -----------  ---------- 
                                   David Cockbill     0.4 pence   2,500,000 
                                                    -----------  ---------- 
       ----------------------  -------------------------------------------- 
 d)     Aggregated 
         information 
 
  - Aggregated 
   volume                       5,000,000 
 
  - Price                       0.4 pence 
 
 e)     Date of the             14 November 2022 
         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) David Cockbill 
       ----------------------  ---------------------------------------------- 
        Reason for the notification 
  2 
       ---------------------------------------------------------------------- 
 a)     Position/status         3) Chairman 
                                 4) Non-Executive 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       0.5 pence   2,500,000 
                                                    -----------  ---------- 
                                   David Cockbill     0.5 pence   2,500,000 
                                                    -----------  ---------- 
       ----------------------  -------------------------------------------- 
 d)     Aggregated 
         information 
 
  - Aggregated 
   volume                       5,000,000 
 
  - Price                       0.5 pence 
 
 e)     Date of the             14 November 2022 
         transaction 
       ----------------------  ---------------------------------------------- 
 f)     Place of                Off-market 
         the transaction 
       ----------------------  ---------------------------------------------- 
 

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November 14, 2022 02:00 ET (07:00 GMT)