10 October 2024
East Star Resources
Plc
("East Star" or the
"Company")
Publication of
Prospectus
East Star Resources Plc (LSE:EST),
which is exploring for copper in Kazakhstan, announces it has today
published a prospectus (the "Prospectus") in connection with the
issuance of 145,791,220 new ordinary shares of £0.01 each ("Ordinary Shares") in the
capital of the Company.
As announced on 4 October 2024, the
Company raised gross proceeds of approximately £1.16 million from
an oversubscribed subscription for, and placing of, 100,926,292 new
ordinary shares of £0.01 each in the capital of the Company at a
price of 1.15 pence per share ("Fundraise").
A copy of the Prospectus has been
submitted to the National Storage Mechanism and will shortly be
available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
A copy will also be made available on East Star's website
at: www.eaststarplc.com
Additional share issuances
In addition to certain directors
subscribing for Ordinary Shares as part of the Fundraise, Sandy
Barblett and Anthony Eastman have agreed to be issued with a total
of 1,739,130 new Ordinary Shares in lieu of deferred fees owed to
each of them (the "Fee Shares") which is further testament to their
commitment. The Fee Shares being issued are as follows:
|
Recipient of Fee Shares
|
Role
|
Number of Fee Shares
|
|
Mr Sandy Barblett
|
Non-Executive Chair
|
869,565
|
|
Mr Anthony Eastman
|
Non-Executive Director
|
869,565
|
In addition, as announced on 15 July
2024, the balance of 43,125,798 Performance Shares due to be issued
to the remaining DVK Vendors (such terms as defined in the 8 July
2024 announcement), excluding Alex Walker, will be issued and
allotted pursuant to the publication of the Prospectus.
All of the above share issuances are
conditional inter alia on
admission as defined below.
Application to listing and trading
Applications will be made for the
New Ordinary Shares to be admitted to trading on the London
Exchange ("Admission") and it expected that Admission will become
effective at 8.00 a.m. on 16 October 2024. The expected timetable
of principal events for the Admission is set out below. All
references to time in this announcement are to London time. Any
changes to the expected timetable will be notified by the Company
though an RIS.
Total Voting Rights
The Company hereby notifies the
market, in accordance with the FCA's Disclosure Guidance and
Transparency Rule 5.6.1, that on Admission, the Company's expected
issued share capital will consist of 397,515,919 Ordinary Shares,
each with one vote. The Company does not hold any Ordinary Shares
in Treasury. On Admission, the total number of voting rights in the
Company is expected to be 397,515,919 and this 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 FCA's
Disclosure Guidance and Transparency Rules.
Unless otherwise defined,
capitalised terms used in this announcement shall have the same
meaning as set out in the Prospectus.
Expected Timetable of Events
|
Publication of Prospectus
|
10 October
2024
|
|
Expected date of admission and
commencement of unconditional dealings in the New Ordinary
Shares
|
8.00 a.m.
on 16 October 2024
|
|
CREST members' accounts credited in
respect of the New Ordinary Shares (where appliable)
|
16 October
2024
|
|
Share certificates despatched in
respect of the New Ordinary Shares (where applicable)
|
14 days
from the date of Admission
|
East Star
Resources Plc
Alex Walker, Chief Executive
Officer
Tel: +44 (0)20 7390 0234 (via Vigo
Consulting)
SI
Capital (Corporate Broker)
Nick Emerson
Tel: +44 (0)1483 413 500
Peterhouse Capital Limited (Corporate
Broker)
Tel: +44 (0) 20 7469 0930
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
Tel: +44 (0)20 7390 0234
About East
Star Resources Plc
East Star Resources is focused on the discovery
and development of copper and other strategic minerals required for
the energy revolution. With eight licences covering >1,000 km²
in three mineral rich districts of Kazakhstan, East Star is
undertaking an intensive exploration programme, applying modern
geophysics to discover minerals in levels that were not previously
explored. East Star's most advanced project is a copper deposit on
the world-class Rudny Altai VMS Belt where the Company delivered a
JORC compliant inferred resource of 20.3Mt @ 1.16% copper, 1.54%
zinc and 0.27% lead close to infrastructure, within trucking
distance of third-party mills with excess capacity. East Star's
management are based permanently on the ground, supported by local
expertise, and a joint venture with the state mining company on
certain projects. In 2024, East Star was selected to receive grant
funding through the BHP Xplor programme for copper porphyry
exploration.
Visit our
website:
www.eaststarplc.com
Follow us on
social media:
LinkedIn: https://www.linkedin.com/company/east-star-resources/
X (formerly Twitter): https://x.com/EastStar_PLC
Subscribe to
our email alert service to be notified whenever East Star releases
news:
www.eaststarplc.com/newsalerts
The person who
arranged for the release of this announcement was Alex Walker, CEO
of the Company.
This announcement contains inside information
for the purposes of Article 7 of Regulation 2014/596/EU which is
part of domestic UK law pursuant to the Market Abuse (Amendment)
(EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the
publication of this announcement, this inside information (as
defined in UK MAR) is now considered to be in the public
domain.