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RNS Amur Minerals Corporation - AMC
Issue of Equity
Released 07:00 02-Dec-2019
RNS Number : 2408V
Amur Minerals Corporation
02 December 2019
2 December 2019
AMUR MINERALS CORPORATION
(AIM: AMC)
Issue of Equity
Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to announce that certain Directors and Executive Management have today been issued 9,485,828 new Ordinary Shares of the Company ("the Subscription") at a price of 2.06 pence per share for a total value of £195,408 as part satisfaction of salaries and fees in order to preserve cash. The Subscription price is at the closing price of Friday 29 November 2019.
The following Directors and Executive Management have participated in the subscription:
Director / Executive
No. Shares
GBP
Robert Schafer (Non-executive Chairman)
1,098,818
22,636
Robin Young (Director / CEO)
3,866,524
79,650
Paul Gazzard (Non-executive Director)
1,365,146
28,122
Paul McKay (CFO, non-board)
3,155,340
65,000
Total
9,485,828
195,408
Following the Subscription, the Directors and Executive Management participating in this subscription will have the following beneficial interest in the Company's issued Ordinary Capital:
Director / Executive
No. Shares
% of enlarged capital
Robert Schafer (Non-executive Chairman)
1,733,792
0.21%
Robin Young (Director / CEO)
6,369,318
0.75%
Paul Gazzard (Non-executive Director)
1,561,871
0.18%
Paul McKay (CFO, non-board)
3,477,016
0.41%
Application will be made to the London Stock Exchange plc for 9,485,828 new Ordinary Shares to be admitted to trading on the AIM market with admission expected to occur on or around 6 December 2019. The new Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares including the right to receive any dividend or other distribution thereafter declared, made or paid. There are no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Company, following the issue of 9,485,828 new Ordinary Shares is 845,441,101.
The participants of the subscription are Directors and Executive Management of the Company, and are therefore regarded as a related party as defined by the AIM Rules for Companies (the "AIM Rules"). The Subscription is therefore classified as a related party transaction for the purposes of Rule 13 of the AIM Rules. Tom Bowens, Brian Savage and Ljupco Naumovski, being the independent directors for the purposes of Rule 13, consider, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the C
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