ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

WRES W Resources Plc

2.65
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
W Resources Plc LSE:WRES London Ordinary Share GB00BKQN5R41 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.65 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

W Resources PLC Director Subscription and additional share issues (4032C)

18/06/2021 11:43am

UK Regulatory


W Resources (LSE:WRES)
Historical Stock Chart


From Mar 2021 to Mar 2024

Click Here for more W Resources Charts.

TIDMWRES

RNS Number : 4032C

W Resources PLC

18 June 2021

18 June 2021

W Resources Plc

("W" or the "Company")

Subscription by Michael Masterman

and additional issues of Shares

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining Company with assets in Spain and Portugal, announces that Symmall Pty Limited, as trustee of the Masterman Superannuation Fund of which Mr Michael Masterman (a director of the Company) is both a beneficiary and trustee, has subscribed for 3,125,000 ordinary shares of 0.1p per share ("Ordinary Shares") at 8p per Ordinary Share to raise GBP250,000 (the "Subscription") on the same terms as the placing announced on 17 May 2021, including 1 warrant for every 2 Ordinary Shares subscribed for. The warrants are exercisable at any time in the two years following admission of the Subscription shares to trading on AIM at an exercise price of 12p per share.

The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.

As announced on 17 May 2021, Mr Masterman was obliged to wait until the publication of annual results for the year ended 31 December 2020 as well as the subsequent announcement of progress in dewatering La Parrilla of 16 June 2021 before being able to subscribe for shares.

Related Party Transaction

The participation in the Placing by Symmall Pty Limited falls to be treated as a related party transaction under Rule 13 of the AIM Rules for Companies. The independent W directors, being the W directors other than Mr Masterman consider, having consulted with the Company's nominated adviser Grant Thornton UK LLP, that the terms of the share subscription are fair and reasonable insofar as the Company's shareholders are concerned.

In addition, the Company has issued 3,709,711 Ordinary Shares of 0.1p per share at 7.43993p per Ordinary Share, amounting to GBP276,000. Of these, 163,700 shares have been issued to Atlas Special Opportunities, LLC in full settlement of outstanding interest and a further 3,546,011 shares have been issued to a creditor.

Settlement and Dealings

Application has been made for the 6,834,711 Ordinary Shares being issued in connection with the Placing and the creditor settlement to be admitted to trading on AIM ("Admission"), with Admission expected to occur on or

around   25 June 2021 . 

Total Voting Rights

Following Admission, the Company's enlarged issued share capital will comprise 115,937,148 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 115,937,148 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

 
 W Resources Plc                  Grant Thornton UK LLP 
  Paul Hailes, CFO                 Colin Aaronson / Harrison Clarke 
  investor@wresources.com          / Lukas Girzadas 
  www.wresources.com               T: +44 (0) 20 7383 5100 
 Joint Broker                     Joint Broker 
  Turner Pope Investments (TPI)    Alternative Resource Capital / 
  Ltd                              Shard Capital 
  Andy Thacker / James Pope        Alex Wood 
  T: +44 (0) 203 657 0050          T:+44 (0) 20 7186 9004 
  www.turnerpope.com               www.altrescap.com 
                                   Damon Heath 
                                   T:+44 (0) 20 7186 9952 
                                   www.shardcapital.com 
 Alma PR 
  Justine James 
  T: +44 (0) 20 3405 0205 
  M: +44 (0) 7525 324431 
  wres@almapr.co.uk 
 

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                    Michael Masterman (Legal person: 
                                                Symmall Pty Ltd) 
      --------------------------------------  ---------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------------- 
 a)    Position / status                       Chairman 
      --------------------------------------  ---------------------------------------- 
 b)    Initial notification                    Initial notification 
        / Amendment 
      --------------------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------- 
 a)    Name                                    W Resources Plc 
      --------------------------------------  ---------------------------------------- 
 b)    LEI                                     213800H66EK87TAOS666 
      --------------------------------------  ---------------------------------------- 
 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                      Ordinary shares of 0.1 pence each 
        financial instrument, 
        type of instrument 
       Identification code                     GB00BKQN5R41 
 b)    Nature of the transaction               Subscription for shares 
 c)    Price(s) and volume(s) 
                                               ------------------  ----------------- 
                                                Price(s)            Volume(s) 
                                               ------------------  ----------------- 
    8.0 pence                                                       3,125,000 
   --------------------------------------------------------------  ----------------- 
 
 d)    Aggregated information                  N/A Single transaction 
 
  - Price 
 e)    Date of the transaction                 18 June 2021 
 f)    Place of the transaction                Outside of a trading venue 
      --------------------------------------  ---------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Michael Masterman (Legal person: 
                                               Symmall Pty Ltd) 
      -------------------------------------  --------------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------------ 
 a)    Position / status                      Chairman 
      -------------------------------------  --------------------------------------------------- 
 b)    Initial notification                   Initial notification 
        / Amendment 
      -------------------------------------  --------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------------ 
 a)    Name                                   W Resources Plc 
      -------------------------------------  --------------------------------------------------- 
 b)    LEI                                    213800H66EK87TAOS666 
      -------------------------------------  --------------------------------------------------- 
 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                     Warrants to subscribe for ordinary 
        financial instrument,                  shares of 0.1 pence each, expiring 
        type of instrument                     25 June 2023 
       Identification code                    For ordinary shares: GB00BKQN5R41 
 b)    Nature of the transaction              Issue of warrants pursuant to a subscription 
                                               for shares 
 c)    Price(s) and volume(s) 
                                              --------------------------  -------------------- 
                                               Price(s)                    Volume(s) 
                                              --------------------------  -------------------- 
    12.0 pence                                                             1,562,500 
   ---------------------------------------------------------------------  -------------------- 
 
 d)    Aggregated information                 N/A Single transaction 
 
  - Price 
 e)    Date of the transaction                18 June 2021 
 f)    Place of the transaction               Outside of 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.

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

DSHBVLFFFQLZBBB

(END) Dow Jones Newswires

June 18, 2021 06:43 ET (10:43 GMT)

1 Year W Resources Chart

1 Year W Resources Chart

1 Month W Resources Chart

1 Month W Resources Chart

Your Recent History

Delayed Upgrade Clock