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