TIDMURAH
RNS Number : 0560U
URA Holdings PLC
21 November 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSE OF
ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF UNITED KINGDOM
("UK") DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMMENT) (EU EXIT)
REGULATIONS (SI 2019/310) ("UK MAR"). MARKET SOUNDINGS WERE TAKEN
FROM CERTAIN PERSONS IN RELATION TO THE PLACING AND THE
SUBSCRIPTION. THIS INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN
POSSESSION OF INSIDE INFORMATION.
21 November 2023
URA Holdings plc
("URA" or the "Company")
Result of Accelerated Bookbuild
Strong support from directors
Net proceeds to facilitate be used restart the Gravellotte
Emerald Mine
URA is pleased to announce that, further to following
yesterday's announcement of the launch of the placing via the
bookbuild, it has successfully raised GBP1,000,000 (before
expenses) through the placing and subscription (together the
"Fundraise"), issuing in aggregate 80,000,000 new ordinary shares
in the capital of the Company ("New Ordinary Shares") at an issue
price of 1.25p per New Ordinary Share.
Closing of the Fundraise is conditional upon the publication of
a new secondary prospectus and upon shareholder approval. A
prospectus in connection with the Fundraise has been lodged with
the FCA and will be published in due course. The Fundraise is also
subject to a shareholder approval at a general meeting (further
details of which are set out below).
The proceeds of the Fundraise will be used to restart the
Gravellotte Emerald Mine and includes the purchase and installation
of the remaining capital items, primarily relating to the
proceesing plant and commissioning of the processing plant as well
as general working capital. The restart of mining and processing
operations and first emerald production is expected to occur in Q1
2024.
The issue price of 1.25p represents a discount of 24% to the mid
market closing price of the ordinary shares on the London Stock
Exchange plc at 4pm on 20 November 2023.
The following Directors participated in the Subscription:
Director Subscription Amount Number of New Ordinary Shares
Edward Nealon GBP58,333.32 4,666,666
Peter Redmond GBP45,000 3,600,000
Bernard Olivier GBP21,666.64 1,833,331
Sam Mulligan GBP12,500 1,000,000
As a further component of the Fundraise, the Company will issue
a total of 3,184,000 warrants to the bookrunners each entitling the
holder to subcribe for one new ordinary share at a price of 1.25
pence for a period of three years.
Ed Nealon, Chairman of URA Holdings Plc commented:
"We would like to welcome all our new investors including the
new institutional investors as well as thank everybody for their
support in completing this placement despite the unusually
challenging market environment. Following the completion of the
placement we can now focus on completing the mine and processing
plant refurbishment and commissioning and restarting emerald mining
and processing at Gravelotte."
Additional information
Posting of Circular
The issue of the New Ordinary Shares, as well as the authority
to issue the shares into which the Warrants may covert, are
conditional, inter alia, on the passing by the Company's
shareholders of certain resolutions at a General Meeting. A
circular containing a notice of general meeting (the "Circular")
will be posted to shareholders later this week. A further
announcement containing the details of the general meeting will be
made upon publication of the Circular.
Applications for Admission
Applications will be made for the New Ordinary Shares to be
admitted to the standard segment of the official list and to
trading on the Main Market for listed securities of the London
Stock Exchange plc. It is expected that admission will become
effective on or about 12 December 2023 (subject to the satisfaction
of the conditions described above). Any changes to the anticapted
timeframe will be notified by RNS.
Rights of the New Orinary Shares
The New Ordinary Shares will, on admission, rank pari passu in
all respects with the ordinary shares currently in issue and will
rank in full for all dividends and other distributions hereafter
declared, paid or made on the ordinary share capital of the
Company.
Total Voting Rights
Following the issue of the New Ordinary Shares, which is
expected to occur on or about 12 December 2023, the Company will
have 252,345,590 ordinary shares in issue, each share carrying the
right to one vote.
This figure of 252,345,590 ordinary shares may then 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.
-Ends-
URA Holdings plc +44 (0)746 368 6497
CEO info@uraholdingsplc.co.uk
Bernard Olivier
COO
Jeremy Sturgess-Smith
Director
Peter Redmond
Peterhouse Capital Limited
Corporate Broker
Lucy Williams
Duncan Vasey +44 (0)20 7469 0930
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
----------------------------------------------------------------------------------------------------------------
a) Name Edward Nealon
------------------------------------------------------------ --------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
a) Position/status Chairman
------------------------------------------------------------ --------------------------------------------------
b) Initial notification /Amendment Initial
------------------------------------------------------------ --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer, or auction monitor
----------------------------------------------------------------------------------------------------------------
a) Name URA Holdings plc
------------------------------------------------------------ --------------------------------------------------
b) LEI 213800U6Z250COBY7781
------------------------------------------------------------ --------------------------------------------------
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 financial instrument, type of instrument
Identification code Ordinary Shares
ISIN: GB00BD2B4T80
------------------------------------------------------------ --------------------------------------------------
b) Nature of the transaction Subscription for ordinary shares
------------------------------------------------------------ --------------------------------------------------
c) Price(s) and volume(s) 4,666,666 Ordinary Shares at GBP0.0125 per share
------------------------------------------------------------ --------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------------------------------ --------------------------------------------------
e) Date of the transaction 21 November 2023
------------------------------------------------------------ --------------------------------------------------
f) Place of the transaction Off Market
------------------------------------------------------------ --------------------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
----------------------------------------------------------------------------------------------------------------
a) Name Peter Redmond
------------------------------------------------------------ --------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------------------------------------ --------------------------------------------------
b) Initial notification /Amendment Initial
------------------------------------------------------------ --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer, or auction monitor
----------------------------------------------------------------------------------------------------------------
a) Name URA Holdings plc
------------------------------------------------------------ --------------------------------------------------
b) LEI 213800U6Z250COBY7781
------------------------------------------------------------ --------------------------------------------------
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 financial instrument, type of instrument
Identification code Ordinary Shares
ISIN: GB00BD2B4T80
------------------------------------------------------------ --------------------------------------------------
b) Nature of the transaction Subscription for ordinary shares
------------------------------------------------------------ --------------------------------------------------
c) Price(s) and volume(s) 3,600,000 Ordinary Shares at GBP0.0125 per share
------------------------------------------------------------ --------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------------------------------ --------------------------------------------------
e) Date of the transaction 21 November 2023
------------------------------------------------------------ --------------------------------------------------
f) Place of the transaction Off Market
------------------------------------------------------------ --------------------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
----------------------------------------------------------------------------------------------------------------
a) Name Bernard Olivier
------------------------------------------------------------ --------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
a) Position/status CEO
------------------------------------------------------------ --------------------------------------------------
b) Initial notification /Amendment Initial
------------------------------------------------------------ --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer, or auction monitor
----------------------------------------------------------------------------------------------------------------
a) Name URA Holdings plc
------------------------------------------------------------ --------------------------------------------------
b) LEI 213800U6Z250COBY7781
------------------------------------------------------------ --------------------------------------------------
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 financial instrument, type of instrument
Identification code Ordinary Shares
ISIN: GB00BD2B4T80
------------------------------------------------------------ --------------------------------------------------
b) Nature of the transaction Subscription for ordinary shares
------------------------------------------------------------ --------------------------------------------------
c) Price(s) and volume(s) 1,833,331 Ordinary Shares at GBP0.0125 per share
------------------------------------------------------------ --------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------------------------------ --------------------------------------------------
e) Date of the transaction 21 November 2023
------------------------------------------------------------ --------------------------------------------------
f) Place of the transaction Off Market
------------------------------------------------------------ --------------------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
----------------------------------------------------------------------------------------------------------------
a) Name Sam Mulligan
------------------------------------------------------------ --------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
a) Position/status Director
------------------------------------------------------------ --------------------------------------------------
b) Initial notification /Amendment Initial
------------------------------------------------------------ --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer, or auction monitor
----------------------------------------------------------------------------------------------------------------
a) Name URA Holdings plc
------------------------------------------------------------ --------------------------------------------------
b) LEI 213800U6Z250COBY7781
------------------------------------------------------------ --------------------------------------------------
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 financial instrument, type of instrument
Identification code Ordinary Shares
ISIN: GB00BD2B4T80
------------------------------------------------------------ --------------------------------------------------
b) Nature of the transaction Subscription for ordinary shares
------------------------------------------------------------ --------------------------------------------------
c) Price(s) and volume(s) 1,000,000 Ordinary Shares at GBP0.0125 per share
------------------------------------------------------------ --------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------------------------------ --------------------------------------------------
e) Date of the transaction 21 November 2023
------------------------------------------------------------ --------------------------------------------------
f) Place of the transaction Off Market
------------------------------------------------------------ --------------------------------------------------
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END
DSHMZMZMMGRGFZZ
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November 21, 2023 02:00 ET (07:00 GMT)
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