Gunsynd PLC Placing and Issue of Warrants

RNS Number : 6160C

Gunsynd PLC

03 September 2024

 

Gunsynd Plc

("Gunsynd" or the "Company")

Placing and Issue of Warrants

Gunsynd (AIM: GUN) is pleased to announce that it has raised gross proceeds of £250,000 through the issue of 200,000,000 new ordinary shares of 0.085 pence ("Placing Shares") each at a price of 0.125 pence per Placing Share (the "Placing Price") (the "Placing"). Placees will also receive one warrant for every two ordinary shares subscribed for, exercisable at 0.2 pence from the date of Admission (defined below) and expiring on the one-year anniversary of the date of Admission (the "Placing Warrants"). In aggregate, 100,000,000 Placing Warrants will be issued.

The net proceeds of the Placing will be used to provide the Company with additional funding for general working capital, making investments in line with its stated investing policy and progressing its activities particularly with respect to its recent Canadian acquisitions being the Bear Twit, Falcon and West Dismal projects.

Certain directors of the Company have subscribed for, in aggregate, 24,000,000 new ordinary shares at the Placing Price ("Director Participation"). Details of the Director Participation are set out below:

Name	Amount	No. of Ordinary Shares to be issued	No. of Placing Warrants to be issued	Resulting shareholding following Director Participation	Resulting % shareholding following Director Participation
Donald Strang	£20,000	16,000,000	8,000,000	34,820,211	3.71%
Hamish Harris	£10,000	8,000,000	4,000,000	11,161,476	1.19%
Total	£30,000	24,000,000	12,000,000	45,981,687	4.90%

Related Party Transaction

The Director Participation in the Placing constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules by virtue of Donald Strang and Hamish Harris both being directors of the Company and therefore related parties (the "Transaction"). Peter Ruse, being the director of the Company independent of the Transaction considers, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser for the purposes of the AIM Rules, that the terms of the Transaction are fair and reasonable in so far as shareholders are concerned.

Admission of the New Ordinary Shares

Application will be made to the London Stock Exchange to admit the Placing Shares ("New Ordinary Shares") to trading on AIM ("Admission"). Admission of the new ordinary shares is expected to occur on or around 10 September 2024. The New Ordinary Shares will rank pari passu with the existing ordinary shares.

Total Voting Rights following Admission

For the purpose of the Disclosure and Transparency Rules, following Admission, the enlarged issued share capital of the Company will comprise 939,745,223 ordinary shares of 0.085p each. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events.  Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

Gunsynd plc Hamish Harris/ Peter Ruse	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray / James Western	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Donald Strang
2	Reason for the notification
a)	Position/Status	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	Gunsynd plc
b)	LEI	21380068N2D57QUG1L78
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 instrument, type of instrument   Identification code	Ordinary shares of 0.085 pence each     GB00BMD6PM55
b)	Nature of the transaction	Purchase of ordinary shares as part of the Placing
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.125p 16,000,000
d)	Aggregated information   -      Aggregated volume   -      Price
e)	Date of transaction	3 September 2024
f)	Place of transaction	London Stock Exchange

 

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Hamish Harris
2	Reason for the notification
a)	Position/Status	Executive Chairman
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gunsynd plc
b)	LEI	21380068N2D57QUG1L78
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 instrument, type of instrument   Identification code	Ordinary shares of 0.085 pence each     GB00BMD6PM55
b)	Nature of the transaction	Purchase of ordinary shares as part of the Placing
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.125p 8,000,000
d)	Aggregated information   -      Aggregated volume   -      Price
e)	Date of transaction	3 September 2024
f)	Place of transaction	London Stock Exchange

 

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Donald Strang
2	Reason for the notification
a)	Position/Status	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	Gunsynd plc
b)	LEI	21380068N2D57QUG1L78
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 instrument, type of instrument   Identification code	Warrants over new ordinary shares of 0.085 pence each    GB00BMD6PM55
b)	Nature of the transaction	Issue of 1 warrant for every 2 shares subscribed for in the Placing
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.125p 8,000,000
d)	Aggregated information   -      Aggregated volume   -      Price
e)	Date of transaction	3 September 2024
f)	Place of transaction	London Stock Exchange

 

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Hamish Harris
2	Reason for the notification
a)	Position/Status	Executive Chairman
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gunsynd plc
b)	LEI	21380068N2D57QUG1L78
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 instrument, type of instrument   Identification code	Warrants over new ordinary shares of 0.085 pence each     GB00BMD6PM55
b)	Nature of the transaction	Issue of 1 warrant for every 2 shares subscribed for in the Placing
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.2 p 4,000,000
d)	Aggregated information   -      Aggregated volume   -      Price
e)	Date of transaction	3 September 2024
f)	Place of transaction	London Stock Exchange

 

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