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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Bluerock Diamonds Plc | LSE:BRD | London | Ordinary Share | GB00BKKJK954 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMBRD
RNS Number : 2898Z
BlueRock Diamonds PLC
16 May 2019
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
16 May 2019
BlueRock Diamonds PLC
("BlueRock" or "Group" or "Company" or "BRD")
Confirmation of Directors' Participation in Fundraising
Issue of Options
BlueRock Diamonds plc, the AIM listed diamond mining company, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa ("Kareevlei"), is pleased to announce that further to the announcement regarding the fundraising and other matters made earlier today (the "Fundraising"), the Board has approved the participation of the following Directors of BlueRock:
Hot Features
Premium
GBP Number of ordinary
shares of 0.01 p
Mike Houston 15,000 15,000,000
------- -------------------
David Facey 10,000 10,000,000
------- -------------------
Gus Simbanegavi 5,000 5,000,000
------- -------------------
Total 30,000 30,000,000
------- -------------------
Following the Fundraising, their shareholdings will be as follows:
Director No. of Ordinary No. of New No. of Ordinary % interest
Shares held Shares subscribed Shares held immediately in Ordinary
as at date for in the following admission shares immediately
of this announcement Fundraising following
admission
Mike Houston - 15,000,000 15,000,000 0.92
---------------------- ------------------- ------------------------- --------------------
David Facey 13,999,999 10,000,000 23,999,999 1.43
---------------------- ------------------- ------------------------- --------------------
Gus Simbanegavi - 5,000,000 5,000,000 0.31
---------------------- ------------------- ------------------------- --------------------
Paul Beck, a former director of BlueRock within the last 12 months, also subscribed for GBP15,000 at price of 0.1 pence per share.
Issue of Interest Shares
The Board also approved the issue of 6,811,000 Interest Shares to Adam Waugh in line with the repayment terms of the Waugh Loan announced this morning.
Details relating to the Fundraising
Further to the announcement this morning, application has now been made for the Placing Shares, the intended Director Subscription Shares, the Services Shares and the Interest Shares (together the "New Shares"), which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence on or around 22 May 2019.
Following Admission, the issued share capital of the Company will consist of 1,629,001,910 Ordinary Shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 1,629,001,910.
Issue of Share Options and Issue of Warrants
The Board has also approved the grant of share options to certain directors of the Company over a total of 114,030,134 ordinary shares of 0.01 pence each ("Share Options") as follows:
Director No. of Share Options being Exercise price per
issued Share Option
Mike Houston 48,870,057 0.1p
--------------------------- -------------------
David Facey 32,580,038 0.1p
--------------------------- -------------------
Gus Simbanegavi 32,580,038 0.1p
--------------------------- -------------------
The Share Options have a five year life and will vest in 2 equal tranches, 50% on grant and 50% on the first anniversary of the grant of the Share Options.
In connection with their participation in the Fundraising, Mike Houston, David Facey and Gus Simbanegavi have also received an aggregate of 30,000,000 Warrants at a price of 0.2 pence each.
Following the grant of the Share Options and Warrants, Mike Houston, David Facey and Gus Simbanegavi will hold share options and warrants as follows:
Director Total no. of share Total no. of Total no. of
options held warrants held warrants and
share options
held
Mike Houston 48,870,057 15,000,000 63,870,057
------------------- --------------- ---------------
David Facey 36,707,126 15,833,332 52,540,458
------------------- --------------- ---------------
Gus Simbanegavi 32,580,038 5,000,000 37,580,038
------------------- --------------- ---------------
*share options and warrants are held at different prices.
Related Party Transaction
Mike Houston and David Facey, as directors of the Company, and Gus Simbanegavi, as a director of the Company's subsidiary, are considered to be "related parties" as defined under the AIM Rules and accordingly, their participation in the Fundraising and issue of share options constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules.
Paul Beck, as a former director of BlueRock within the last 12 months, is also considered to be a "related party" as defined under the AIM Rules and accordingly, Paul's participation in the Fundraising also constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules.
The Director independent of the Fundraising, being Tim Leslie (Non-Executive Director), considers, having consulted with the Company's nominated adviser, that the terms of the Director participation in the Fundraising and issue of options are fair and reasonable insofar as the Company's shareholders are concerned.
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.
**S**
For further information, please visit BRD's website www.bluerockdiamonds.co.uk or contact:
BlueRock Diamonds PLC
David Facey, FD dfacey@bluerockdiamonds.co.uk
Mike Houston, Executive mhouston@bluerockdiamonds.co.uk
Chairman
SP Angel (NOMAD and Broker)
Stuart Gledhill / Caroline Tel: +44 (0)20 3470 0470
Rowe
----------------------------------
SVS Securities Limited Tel +44 (0)20 3700 0100
Elliot Hance
----------------------------------
St Brides Partners Ltd
(Financial PR) Tel: +44 (0)20 7236 1177
Melissa Hancock / Juliet
Earl
----------------------------------
Notes to editors:
BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes. As at November 2018, it was estimated that the remaining Inferred Mineral Resource from the four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a potential inground number of carats of 367,000.
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: A: Michael Houston
B: David Facey
C: Gus Simbanegavi
D: Adam Waugh
--------------------------------- ------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a) Position/status: A: Executive Chairman
B: Finance Director
C: CEO of Kareevlei,
subsidiary of BlueRock
D: Non-Executive
Director
--------------------------------- ------------------------------------------
b) Initial notification/Amendment: Initial notification
--------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name: BlueRock Diamonds
plc
--------------------------------- ------------------------------------------
b) LEI: 213800LVSJ2RNI3SSN92
--------------------------------- ------------------------------------------
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
instrument, type of instrument: 0.01 pence each
Identification code: GB00B84H1764
--------------------------------- ------------------------------------------
b) Nature of the transaction: Participation in
the Fundraising,
Issue of Options,
Issue of Warrants
and Interest Shares
--------------------------------- ------------------------------------------
c) Price(s) and volume(s): A: Michael Houston
Participation in
the Fundraising: Price(s) Volume(s)
0.1p 15,000,000
-----------
Issue of Options: Price(s) Volume(s)
0.1p 48,870,057
-----------
Issue of Warrants: Price(s) Volume(s)
0.2p 15,000,000
-----------
B: David Facey
Participation in
the Fundraising: Price(s) Volume(s)
0.1p 10,000,000
-----------
Issue of Options: Price(s) Volume(s)
0.1p 32,580,038
-----------
Issue of Warrants: Price(s) Volume(s)
0.2p 10,000,000
-----------
C: Gus Simbanegavi
Participation in
the Fundraising: Price(s) Volume(s)
0.1p 5,000,000
----------
Issue of Options: Price(s) Volume(s)
0.1p 32,580,038
-----------
Price(s) Volume(s)
0.2p 5,000,000
----------
Issue of Warrants:
D: Adam Waugh
Issue of Interest
Shares Price(s) Volume(s)
0.1p 6,811,000
----------
--------------------------------- ------------------------------------------
d) Aggregated information: Participation in
Aggregated volume: the Fundraising: Price(s) Volume(s)
Price: 0.1p 30,000,000
-----------
Issue of Options: Price(s) Volume(s)
0.1p 114,030,134
Issue of Warrants: Price(s) Volume(s)
0.2p 30,000,000
-----------
Issue of Interest
Shares Price(s) Volume(s)
0.1p 6,811,000
----------
--------------------------------- ------------------------------------------
e) Date of the transaction: 16 May 2019
--------------------------------- ------------------------------------------
f) Place of the transaction: Outside a trading
venue
--------------------------------- ------------------------------------------
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 rns@lseg.com or visit www.rns.com.
END
MSCAFMMTMBABBFL
(END) Dow Jones Newswires
May 16, 2019 07:10 ET (11:10 GMT)
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