31st Oct 2023 7:00 am RNS Board Changes, Share Purchases and PDMR Dealings31 Oct 2023 11:29
31st Oct 2023 7:00 am RNS Board Changes, Share Purchases and PDMR Dealings
"Board Changes, On-Market Share Purchases
and PDMR Dealings
HIGHLIGHTS
• Approximately £455,000 of existing shares purchased at 1.25p per share price by a range of new investors.
• 78.5% premium to the mid-market price at 30 October 2023
• 25% premium to October 2022 IPO issue price
• New Directors appointed with exceptional track records in the international oil and gas sector.
BACKGROUND
Milton Capital Plc is pleased to announce that certain other investors (the "Buyers") have agreed, via Peterhouse Capital, to acquire 36,400,000 existing ordinary shares through on- market purchases, at 1.25 pence per share, from a group of existing shareholders (the "Share Sales"). The selling shareholders include Malcolm Burne, a director of the Company, who has agreed to sell 12,000,000 ordinary shares as part of the Share Sales. Two of the Buyers, Edward Dawson and Richard Mays, who will join the board as Executive Director and Non-Executive Director respectively of the Company, with immediate effect, have each agreed to buy 4,000,000 ordinary shares in the Share Sales.
Eran Zucker, Executive Director, of the Company has decided to resign from the board as a director with immediate effect. Eran is not participating in the Share Sales and retains 1,999,900 ordinary shares, representing approximately 2.0% of the issued share capital.
In addition to the shares purchased as part of the Share Sales, the Buyers will also receive from the selling shareholders the two for one Investor Warrants that were attached to each ordinary share issued at the time of the Company's October 2022 IPO, as further detailed in the Company's Prospectus dated 29 September 2022.
Edward Dawson, incoming Executive Director stated: "I would like to place on record my thanks to Eran as a founding director of the Company. We are delighted he will retain his current shareholding in Milton as we embark on a new direction. We are excited about the array of [oil and gas/energy] opportunities that are presenting themselves and believe that the board will be able to use its expertise and contacts to seek out value enhancing opportunities in the sector. We look forward to updating shareholders as progress gets made." ..."
https://www.lse.co.uk/rns/MII/board-changes-share-purchases-and-pdmr-dealings-nf794ufiobqej6k.html
LSE % Gainers Top Lists
EPIC Name %
HUI Hydrogen Utopia +56%
RGD Real Good Food +50%
MII Milton Capital +48%
MII are up 48.3% today, rising 0.35p to 1.075p (1p - 1.15p), third on the top risers board.