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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Karelian Diamond Resources Plc | LSE:KDR | London | Ordinary Share | IE00BD09HK61 | ORD EUR0.00025 (CDI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.25 | -7.69% | 3.00 | 2.70 | 3.00 | 3.35 | 2.85 | 3.25 | 955,957 | 16:35:01 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Misc Nonmtl Minrls, Ex Fuels | 10k | -291k | 0.0000 | N/A | 208.09M |
Hot Features
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TIDMKDR
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ("MAR"). With the publication of this announcement via a
Regulatory Information Service, this inside information is now considered to be
in the public domain.
11 June 2018
Karelian Diamond Resources plc (the "Company")
CAPITAL RAISING
TOTAL VOTING RIGHTS
Placing and subscription to raise GBP500,000 (EUR569,390)
* Placing and subscription for a total of 11,111,111 new ordinary
shares at 4.5 pence per share to raise GBP500,000 (EUR569,390) before expenses and
issue of 388,889 Broker Warrants
* The proceeds will be applied primarily for exploration drilling
programmes and the advancement of the Company's diamond projects and for other
general working capital
Karelian Diamond Resources plc (AIM: KDR), the diamond exploration company
focused on Finland, is pleased to announce that it has conditionally raised GBP
500,000 (EUR569,390), prior to expenses, through a placing and subscription (the
"Placing") of a total of 11,111,111 new ordinary shares of EUR0.00025 in the
capital of the Company (the "Placing Shares"), at a price of 4.5 pence per
Placing Share (the "Placing Price").
The Placing is conditional, inter alia, on admission of the Placing Shares to
trading on AIM. The Placing Shares will rank pari passu with the existing
issued ordinary shares of EUR0.00025 in the capital of the Company ("Ordinary
Shares").
Use of Proceeds
The Company intends to use the proceeds of the Placing to fund the further
advancement of the Company's principal diamond opportunities including:
* Drilling to discover the source of the green diamond recently discovered in
a till sample at Kuhmo
* Drilling of the Riihivaarä kimberlite which the Company has also recently
discovered to test for micro diamonds;
* Micro diamond test work on drill core from the recently acquired Lahtojoki
Diamond deposit;
* Undertake further till sampling to explore for diamond potential adjacent
to the Lahtojoki diamond deposit; and
* initiate environmental studies and for working capital generally.
Directors participation
As part of the Placing, certain of the Directors have agreed to subscribe for
an aggregate of 2,222,222 Placing Shares. The Directors' participation in the
Placing and their resultant shareholding following admission of the Placing
Shares to trading ("Admission") is as follows:
Placing Percentage
Shares interest in the
Placing subscribed Resultant enlarged issued
Director participation for Shareholding share capital
GBP No. No.
Professor Richard 25,000 555,556 5,338,912 15.48
Conroy*
Maureen Jones 5,000 111,111 639,990 1.86
Séamus FitzPatrick 20,000 444,444 481,341 1.40
Dr Sor?a Conroy 50,000 1,111,111 1,129,911 3.28
100,000 2,222,222 7,590,154 22.01
* Of the 5,338,912 Ordinary Shares beneficially held by Professor Richard
Conroy, 1,232,601 are held by Conroy Plc a company in which Professor Conroy
has a controlling interest.
The participation of Professor Richard Conroy, Maureen Jones, Séamus
FitzPatrick and Dr Sor?a Conroy in the Placing is a related party transaction
pursuant to Rule 13 of the AIM Rules for Companies. The independent director of
the Company (being Louis Maguire), having consulted with the Company's
Nominated Adviser, consider the terms of the Placing to be fair and reasonable
insofar as the Shareholders are concerned.
Admission to AIM
Application has been made to AIM for the Placing Shares to be admitted to
trading. It is expected that admission will become effective on 15 June 2018.
Following the issue of the Placing Shares, and for the purposes of the
Disclosure and Transparency Rules, the Company's total issued share capital on
Admission will consist of 34,489,178 Ordinary Shares.
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.
In conjunction with the Placing the Company is issuing 388,889 Broker Warrants,
which are exercisable at the Placing Price until 11 December 2020, to Brandon
Hill.
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:
"We are pleased to be able to fund an additional drilling programme and
undertake further exploration work at Kuhmo. Following the recent discovery of
the green diamond in the till sample at Kuhmo we are very enthusiastic about
the opportunities for the Company and look forward to updating shareholders in
due course. Moreover, the Board of the Company are contributing to the placing
and the Company thanks them for their support. "
Further Information:
Professor Richard Conroy, Chairman, Karelian Diamond Tel: +353-1-479-6180
Resources plc
Virginia Bull / Nick Harriss, Allenby Capital Limited Tel: +44-20-3328-5656
(Nomad)
Jonathan Evans, Brandon Hill Capital Tel: +44-20-3463-5000
Michael Padley, Lothbury Financial Services Tel: +44-20-3290-0707
Don Hall, Hall Communications Tel: +353-1-660-9377
http://www.kareliandiamondresources.com
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No 596/2014. The information set out below is
provided in accordance with the requirements of Article 19(3) of that
Regulation.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Professor Richard Thomas Walter
Lawrence Conroy
2 Reason for the notification
a) Position/status Director of the Company
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Karelian Diamond Resources plc
b) LEI N/A
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 EUR0.00025 each
instrument, type of instrument ("Ordinary Shares")
Identification code ISIN for Karelian Diamond Resources plc
Ordinary Shares:
IE00BD09HK61
b) Nature of the transaction Purchase of shares via a placing
c) Price(s) and volume(s) Price - 4.5 pence per ordinary share
Volume - 555,556 Ordinary Shares
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 June 2018
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Maureen Theresa Anne Jones
2 Reason for the notification
a) Position/status Director of the Company
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Karelian Diamond Resources plc
b) LEI N/A
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 EUR0.00025 each
instrument, type of instrument ("Ordinary Shares")
Identification code ISIN for Karelian Diamond Resources plc
Ordinary Shares:
IE00BD09HK61
b) Nature of the transaction Purchase of shares via a placing
c) Price(s) and volume(s) Price - 4.5 pence per ordinary share
Volume - 111,111 Ordinary Shares
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 June 2018
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Séamus Philip FitzPatrick
2 Reason for the notification
a) Position/status Director of the Company
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Karelian Diamond Resources plc
b) LEI N/A
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 EUR0.00025 each
instrument, type of instrument ("Ordinary Shares")
Identification code ISIN for Karelian Diamond Resources plc
Ordinary Shares:
IE00BD09HK61
b) Nature of the transaction Purchase of shares via a placing
c) Price(s) and volume(s) Price - 4.5 pence per ordinary share
Volume - 444,444 Ordinary Shares
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 June 2018
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Dr Sor?a Catriona Conroy
2 Reason for the notification
a) Position/status Director of the Company
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Karelian Diamond Resources plc
b) LEI N/A
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 EUR0.00025 each
instrument, type of instrument ("Ordinary Shares")
Identification code ISIN for Karelian Diamond Resources plc
Ordinary Shares:
IE00BD09HK61
b) Nature of the transaction Purchase of shares via a placing
c) Price(s) and volume(s) Price - 4.5 pence per ordinary share
Volume - 1,111,111 Ordinary Shares
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 June 2018
f) Place of the transaction Outside a trading venue
END
(END) Dow Jones Newswires
June 11, 2018 02:00 ET (06:00 GMT)
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