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20 Oct 2025 13:45
IMC Exploration Group Plc - Issue of EquityIMC Exploration Group Plc - Issue of Equity
PR Newswire
LONDON, United Kingdom, October 20
THE DIRECTORS OF IMC EXPLORATION GROUP PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "MARKET ABUSE REGULATION"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
20th October 2025
IMC Exploration Group PLC
Β
(βIMCβ, the βCompanyβ or the βGroupβ)
Financial and Management Restructuring
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IMC is pleased to announce certain management appointments and a restructuring of a loan provided to the Company.
Highlights
Armand Pinarbasi, former Managing Partner Grant Thornton Armenia, has been appointed to the Companyβs Board as an Executive Director with immediate effect and he has also been appointed as Chief Executive Officer of IMCβs Armenian mining subsidiary, ASSAT LLC. In addition, LumΓr VaΕ‘tΓk, a long-term partner in the Companyβs shareholder Mineral Ventures Invest s.r.o (βMVIβ) will become the Deputy Director of ASSAT LLC.Β
The conversion into ordinary shares in the Company of all loans provided by MVI to IMC up to the date of completion of the reverse take-over on 31 October 2023. The amount loaned up to 31 October 2023 by MVI totalled β¬702,286 (equivalent to Β£613,350) and is being converted on the basis of an IMC share price of 0.75p into 81,780,029 new ordinary shares in the Company.
Appointment of Armand Pinarbasi
IMC is delighted to welcome Armand to the Board.With over 30 years of executive experience in top international management, financial services, audit, and international business, Armand has led complex organisations, driven cross-border growth, and built global teams.
Armand served as Group CEO of SoftConstruct, a multinational technology group with 6,000+ employees. Before that, Armand spent more than 20 years at Grant Thornton, holding senior leadership roles including Managing Partner of Grant Thornton Armenia, Partner at Grant Thornton in France, where he also served as Managing Partner Grant Thornton PACA region (Nice, Provence-Alpes-CΓ΄te d'Azur) for nine years, and Executive Director for Network Member Relations at Grant Thornton International. His work spanned top international management including strategy, operations, M&A, and governance across multiple markets.
He has also been active in public and the diplomatic service, having served as Honorary Consul of the Kingdom of Denmark in Armenia, Foreign Trade Advisor to the French Government, and President and Founder of the French-Armenian Chamber of Commerce. He is a member of the French State Body of Chartered Accountants and Statutory Auditors and was honoured as a Knight of the French National Order of Merit for his contributions to international economic relations.
Armand, at IMC Board level, will undertake the role of business development, not only in Armenia, but in the South Caucasus countries and in Eastern Europe where a number of opportunities are opening up especially for those companies with a proven eco-mining solution. Currently, Armand is in discussions with the Armenian Stock Exchange, with regard to moving forward IMCβs application for a dual listing on that exchange.
Armand Pinarbasi has confirmed to the Company that he is the holder of 32,300,000 IMC ordinary shares.
Other than as set out in this announcement there are no further disclosures required in respect of Armand Pinarbasi under paragraph 6.4.8 of the Listing Rules.
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Loan Conversion
The amount loaned byMVI to IMC up to 31 October 2023 of β¬702,286, being equivalent to Β£613,350 is being converted on the basis of a share price of 0.75 pence into 81,780,029 new ordinary shares of β¬0.001 each in the capital of the Company (the βLoan Conversion Sharesβ). The closing mid-price of IMCβs shares on the London Stock Exchange on 17th October 2025, the last practicable date prior to the release of this announcement was 0.65 pence.
Application shall be made to the Financial Conduct Authority (βFCAβ) for the Loan Conversion Shares, which will rank pari passu in all respects with the Companyβs existing ordinary shares in issue, to be admitted to the FCAβs Official List and to trading on the London Stock Exchange (βAdmissionβ). Β Admission is expected to occur on or around 30th October 2025.
Total Voting Rights
Following Admission of the Loan Conversion Shares, the Companyβs issued ordinary share capital shall consist of 780,677,508 Ordinary Shares and, on Admission, this figure should be used by shareholders as the denominator to 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.
The Directors of IMC accept responsibility for the content of this announcement.
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Eamon P. OβBrien.
Executive Chairman.
Dublin 20 th October 2025.
Enquiries :
IMC Exploration Group plc
Eamon OβBrien
+353 87 6183024
Kathryn Byrne
+353 85 233 6033
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Keith Bayley Rogers & Co. Limited
Stephen Clayson
stephen.clayson@kbrl.co.uk
+44 (0)7771 871 847
Brinsley Holman
brinsley.holman@kbrl.co.uk
+44 (0)7776 302 228
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IFC Advisory Limited (Financial PR and IR)
Tim Metcalfe
Florence Chandler
+44 (0)203 934 6630
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