20 Jan 2021 07:45
20 January 2021
IronRidge Resources Limited
(AIM: IRR)
Director Dealings
Issue of Equity - Exercise of Warrants
Directors Neil Herbert and Vincent Mascolo
Major Shareholder Assore Limited
The Board of IronRidge Resources Limited (IronRidge or the Company) wishes to advise of the following Directors and Major Shareholder Dealings as a result of a conversion of warrants which occurred today.
IronRidge Resources Major Shareholder Assore Limited acquired 3,000,000 shares at a price of 12p each as a result of warrants conversions for a total consideration of £360,000.
IronRidge Resources Chairman Mr Neil Herbert acquired 338,572 shares at a price of 12p each as a result of warrant conversions for a total consideration of £40,629.
IronRidge Resources Managing Director Mr Vincent Mascolo acquired 500,000 shares at a price of 12p each as a result of warrants conversions for a total consideration of £60,000.
Following the transaction, Assore Limited and Messrs Herbert and Mascolo hold the following interests in the Company's shares:
Director/ Shareholder | Previous Shareholding | Shares Acquired | Current Holding | Current % Ownership |
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Assore Limited | 102,816,667 | 3,000,000 | 105,816,667 | 25.26% |
Neil Herbert | 1,877,143 | 338,572 | 2,215,715 | 0.53% |
Vincent Mascolo | 15,200,000 | 500,000 | 15,700,000 | 3.75% |
The allotment of the shares will occur immediately in accordance with the Block Listing Application for the warrants as made by the Company and advised to the market on 17 September 2020.
Following Admission, the Company will have a total of 418,911,460 Ordinary Shares in issue with each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
TABLE 1 - ISSUE OF ORDINARY SHARES
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | 1. Vincent Mascolo 2. Neil Herbert | ||||
2. | Reason for the notification | |||||
a) | Position/status: | 1. Director and CEO 2. Non-Executive Chairman | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | IronRidge Resources Limited | ||||
b) | LEI: | 213800H1JY3J7BB6BN06 | ||||
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: | Depositary Interests of no par value (Ordinary Shares) ISIN: AU0000XINEX3 | ||||
b) | Nature of the transaction: | Exercise of Warrants | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 20 January 2021 | ||||
f) | Place of the transaction: | Outside of a trading venue | ||||
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For any further information please contact:
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IronRidge Resources Limited Vincent Mascolo (Chief Executive Officer) Karl Schlobohm (Company Secretary) www.ironridgeresources.com.au | Tel: +61 7 3303 0610 | |||
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SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat | Tel: +4 (0)20 3470 0470 | |||
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SI Capital Limited Company Broker Nick Emerson Jon Levinson | Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038 | |||
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Yellow Jersey PR Limited Henry Wilkinson
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