Last checked at 15 Aug 2017 07:15
15th August 2017
Connemara Mining Company plc
("Connemara" or "the Company")
Director/PDMR Shareholding
Total Voting Rights
Following the announcement released earlier today, Connemara is pleased to announce that John Teeling and James Finn have now subscribed for 2,906,977 and 872,093 new Ordinary Shares respectively for a total of 3,779,070 Ordinary Shares, amounting to £65,000, on the same terms as the Placing.
As a result, the Company has now raised £200,000 by the issue of 11,627,907 Ordinary Shares. The Placing Shares represent 13.3 per cent of the enlarged issued share capital of the Company.
Application for Admission
The Placing Shares will rank paripassu with the existing Ordinary Shares. Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will be effective on 18th August 2017.
Directors' shareholdings
As a result of the Placing the shareholdings of John Teeling and James Finn will be as set out in the table below:
Director | Shareholding prior to the placing | Number of placing shares | Shareholding following the placing | % of enlarged share capital |
John Teeling | 5,270,001 | 2,906,977 | 8,176,978 | 9.35% |
James Finn | 5,283,001 | 872,093 | 6,155,094 | 7.04% |
Furthermore, as a result of the Warrants attached to the Placing Shares, the Company's directors hold warrants and/or options over the Company's ordinary shares as set out below:
Director | Share Options | Warrants |
John Teeling | 0 | 2,906,977 |
James Finn | 0 | 872,093 |
Gavin Berkenheger | 300,000 | 0 |
Vivion Byrne | 0 | 0 |
Danish Varma | 0 | 0 |
Related Party Transaction
The subscription for placing shares and warrants by John Teeling and James Finn (the "Directors' Participation") is a related party transaction under the AIM Rules for Companies. Gavin Berkenheger, Vivion Byrne and Danish Varma, the independent directors, having consulted with the Company's Nominated Adviser, Northland Capital Partners Limited, consider the terms of the Directors' Participation to be fair and reasonable in so far as the shareholders are concerned.
Significant Shareholder
Paul and Michelle Johnson have subscribed for 1,453,488 of the Placing Shares and as a result have a beneficial interest in 8,603,488 ordinary shares of 1 cent each, representing 9.84 per cent of the Company's issued share capital as enlarged by the Placing.
Total Voting Rights
Following the Admission of the Placing Shares, there will be a total of 87,417,618 Ordinary Shares in issue with each share carrying the right of one vote. The above 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 change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Connemara is an active exploration company with principal assets in gold, zinc and lead exploration licences in Ireland. The company holds interests in 35 licences and has joint ventures with Teck and Hendrick Resources.
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
ENDS
Enquiries:
Connemara Mining Company Plc | |
John Teeling, Chairman | +353 (0) 1 833 2833 |
Jim Finn, Director | |
Northland Capital Partners Limited | |
Matthew Johnson / Gerry Beaney | +44 (0) 203 861 6625 |
John Howes | |
Blytheweigh | +44 (0) 207 138 3204 |
Nick Elwes | +44 (0) 783 185 1855 |
Camilla Horsfall | +44 (0) 781 784 1793 |
Teneo PSG | |
Ciaran Flynn | +353 (0) 1 661 4055 |
Alan Tyrrell | +353 (0) 1 661 4055 |
www.connemaramining.com
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | John Teeling | ||||||
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 | Connemara Mining Company plc | ||||||
b) | LEI | |||||||
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 | (A) Ordinary shares of €0.01 each (B) Warrants over ordinary shares of €0.01 each
IB00B2357X72 | ||||||
b) | Nature of the transactions | |||||||
c) | Price(s) and volume(s) |
2,906,977 warrants with an exercise price of 3.4p | ||||||
d) | Aggregated information - Aggregated volume - Price |
N/A
| ||||||
e) | Date of the transaction | 15 August 2017 | ||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | James Finn | ||||||
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 | Connemara Mining Company pl c | ||||||
b) | LEI | |||||||
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 | (a) Ordinary Shares of €0.01 (b) Warrants over ordinary shares of €0.01 each
IB00B2357X72 | ||||||
b) | Nature of the transactions | |||||||
c) | Price(s) and volume(s) |
872,096 warrants with an exercise price of 3.4p | ||||||
d) | Aggregated information - Aggregated volume - Price |
N/A
| ||||||
e) | Date of the transaction | 15 August 2017 | ||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||