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KEN Kendrick Resources Plc

0.475
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kendrick Resources Plc LSE:KEN London Ordinary Share GB00BNBQZW49 ORD GBP0.0003
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.475 0.45 0.50 0.475 0.475 0.475 0.00 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc Nonmtl Minrls, Ex Fuels 0 -1.04M -0.0044 -1.07 1.13M

Kendrick Resources PLC Update on issue of equity to EMX (2506X)

24/04/2023 12:19pm

UK Regulatory


Kendrick Resources (LSE:KEN)
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TIDMKEN

RNS Number : 2506X

Kendrick Resources PLC

24 April 2023

24 April 2022

Kendrick Resources Plc

("Kendrick" or the "Company")

Update on issue of equity to EMX

Kendrick Resources Plc (LSE: KEN), a mineral exploration and development company with projects in Scandinavia announces that the number of new ordinary shares being issued in relation to the Company's acquisition of the Espedalen, Hosanger, and Sigdal nickel-copper-cobalt exploration projects in Norway from EMX Scandinavia AB ("EMX") is 4,144,395 not 26,341,952 as previously announced on 20 April 2023.

Lock up arrangements: 50% of these shares shall be subject to a three-month voluntary escrow and the balance of 50% subject to a six-month voluntary escrow.

3,683,906 of the new ordinary shares will be issued to EMX Scandinavia AB which will increase the combined shareholding of EMX Scandinavia AB and EMX Royalty Corporation to 21,663,284 shares represent 8.9% of the enlarged share capital with the balance of the new ordinary shares to be issued to a business partner of EMX.

Application to trading: Applications have been made to the Financial Conduct Authority ("FCA") and the London Stock Exchange for the 4,144,395 new ordinary shares, to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities (the "Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on or around 26 April 2022.

Issued Share Capital: Following the issue of the new ordinary shares, the Company's total issued share capital will consist of 243,882,767 ordinary shares with voting rights. The Company does not hold any ordinary shares in treasury and accordingly there are no voting rights in respect of any treasury shares.

Total Voting Rights On Admission : The above mentioned figure of 243,882,767 ordinary shares may be used by shareholders in the Company 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, Kendrick under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Further information on the Norwegian projects can be found on the Company's website at: https://www.kendrickresources.com/nickel/

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

 
   For additional information please contact: 
   Kendrick Resources       Tel: +44 203 961 6086 
    Plc:                     Colin Bird 
    Chairman 
 
   Novum Securities         Tel: +44 7399 9400 
   Financial Adviser        David Coffman / George Duxberry 
    Joint Broker             Jon Bellis 
 
   Shard Capital Partners   Tel: +44 207 186 9952 
    LLP                      Damon Heath / Isabella Pierre 
    Joint Broker 
 

About Kendrick Resources Plc

Kendrick Resources Plc is a mineral exploration and development company with projects primarily based across Scandinavia. The principal of its business is to explore the opportunities within the natural resources sector with a focus on battery, base, and precious metals including but not limited to vanadium and nickel. In doing so, the Company is looking to build a long-term energy metals business in Scandinavia which delivers energy metals to Europe to help enable its renewable energy transformation by building a top tier energy metals production business.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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(END) Dow Jones Newswires

April 24, 2023 07:19 ET (11:19 GMT)

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