We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Richland Resources Ltd | LSE:RLD | London | Ordinary Share | BMG7567C1304 | COM SHS USD0.003 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.625 | 2.50 | 2.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMRLD
RNS Number : 7868T
Richland Resources Ltd
06 July 2018
6 July 2018
Richland Resources Ltd
("Richland" or the "Company")
Fee Conversions, Directors' Dealings and Issue of Equity
Richland (AIM: RLD), the gemstones producer and developer, announces, further to its announcement of 25 June 2018, the conversion by certain of the Company's existing Directors and senior management team, certain former directors and a former consultant of an aggregate amount of GBP207,537 (comprising US$275,215 at the USD:GBP exchange rate of 1.3261 on 22 June 2018) of fees accrued for periods ranging from December 2016 to 31 May 2018 into new common shares of US$0.0003 each in the capital of the Company ("Common Shares") (the "Fee Conversion"). Pursuant to the Fee Conversion, the Company is today issuing, in aggregate, 74,120,531 new Common Shares (the "Conversion Shares") at an issue price of 0.28 pence per share (the "Conversion Price"), representing a premium of approximately 27 per cent. to the Company's closing mid-market share price of 0.22 pence on 5 July 2018, being the latest practicable date prior to the date of this announcement.
The Fee Conversion will assist the Company in conserving its cash reserves whilst it seeks to procure sufficient longer-term financing during Q3 2018 to enable the recommencement of production at the Company's Capricorn Sapphire mine.
In addition, the Company is today issuing a further an additional 16,000,000 new Common Shares (the "Professional Fee Shares") at the Conversion Price in relation to professional fees due though to to 31 December 2018.
Application will be made for the abovementioned, in aggregate, 90,120,531 new Conversion Shares and Professional Fee Shares to be admitted to trading on AIM and admission is expected to take place on or around 12 July 2018 ("Admission"). Following Admission, the Company will have 568,353,850 Common Shares with voting rights in issue and holds a further 7,275,000 Common Shares in treasury.
The allocation of the Conversion Shares is set out below:
Existing Directors 16,324,599 Former Directors 19,609,173 Senior Management & Former Consultant 38,186,759 ---------------------- ----------- Total 74,120,531
Following Admission, the beneficial shareholdings of each existing Richland director receiving Conversion Shares will be as follows:
Director Position Number of Conversion Total Number of Common % of voting rights Shares to be received Shares held on held on Admission Admission ----------------- ------------------------ ----------------------- ----------------------- ----------------------- Anthony Brooke Chief Executive Officer 11,527,361 15,741,955 2.77 ----------------- ------------------------ ----------------------- ----------------------- ----------------------- Nicholas Sibley Non-Executive Director 4,797,238 65,287,741 11.49 ----------------- ------------------------ ----------------------- ----------------------- -----------------------
Related Party Transactions
The conversions of accrued fees into new Common Shares by Anthony Brooke, Nicholas Sibley, and certain former directors, as detailed above, are deemed to be related party transactions pursuant to Rule 13 of the AIM Rules for Companies. Accordingly, the independent director for the purposes of the issue of the Conversion Shares to such individuals, being Edward Nealon, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, considers that the terms of the issue of the Conversion Shares to such individuals are fair and reasonable insofar as the Company's shareholders are concerned.
For further information please contact:
Edward Nealon Tony Brooke Mike Allardice Chairman Chief Executive Group Company +61 409 969 Officer Secretary 955 +66 81 854 1755 +852 91 864 854 Nominated Adviser Broker Strand Hanson Shore Capital Stockbrokers Limited Ltd James Harris Jerry Keen (corporate Matthew Chandler broking) James Dance Toby Gibbs / Mark +44 (0) 20 7409 Percy (corporate 3494 finance) +44 (0) 20 7408 4090
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
PDMR Notification Forms:
The notifications below are made in accordance with the requirements of MAR.
1. Details of the person discharging managerial responsibilities / person closely associated --- ------------------------------------------------------------ a) Name Nicholas Sibley --- ------------------------------- --------------------------- 2. Reason for the Notification --- ------------------------------------------------------------ a) Position/status 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 Richland Resources Ltd --- ------------------------------- --------------------------- b) LEI 213800ZBDLZC9TO5W864 --- ------------------------------- --------------------------- 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 Common shares of US$0.0003 Financial instrument, each type of instrument --- ------------------------------- --------------------------- Identification code BMG7567C1064 --- ------------------------------- --------------------------- b) Nature of the Transaction Conversion of unpaid fees --- ------------------------------- --------------------------- c) Price(s) and volume(s) Price(s) Volume(s) --------- ---------- 0.28p 4,797,238 --------- ---------- --- ------------------------------- --------------------------- d) Aggregated information N/A (Single transaction) Aggregated volume Price --- ------------------------------- --------------------------- e) Date of the transaction 6 July 2018 --- ------------------------------- --------------------------- f) Place of the transaction London Stock Exchange, AIM Market (XLON) --- ------------------------------- --------------------------- 1. Details of the person discharging managerial responsibilities / person closely associated --- ------------------------------------------------------------ a) Name Anthony Brooke --- ------------------------------- --------------------------- 2. Reason for the Notification --- ------------------------------------------------------------ a) Position/status Chief Executive Officer --- ------------------------------- --------------------------- b) Initial notification/amendment Initial notification --- ------------------------------- --------------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- ------------------------------------------------------------ a) Name Richland Resources Ltd --- ------------------------------- --------------------------- b) LEI 213800ZBDLZC9TO5W864 --- ------------------------------- --------------------------- 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 Common shares of US$0.0003 Financial instrument, each type of instrument --- ------------------------------- --------------------------- Identification code BMG7567C1064 --- ------------------------------- --------------------------- b) Nature of the Transaction Conversion of unpaid fees --- ------------------------------- --------------------------- c) Price(s) and volume(s) Price(s) Volume(s) --------- ----------- 0.28p 11,527,361 --------- ----------- --- ------------------------------- --------------------------- d) Aggregated information N/A (Single transaction) Aggregated volume Price --- ------------------------------- --------------------------- e) Date of the transaction 6 July 2018 --- ------------------------------- ---------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON) --- ------------------------------- ---------------------------
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
IOEMMGGNNKKGRZM
(END) Dow Jones Newswires
July 06, 2018 02:00 ET (06:00 GMT)
1 Year Richland Resources Chart |
1 Month Richland Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions