Director/PDMR Shareholding

RNS Number : 9713N

Connemara Mining Company plc

15 August 2017

 

15^th 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 18^th 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	[phone]
Jim Finn, Director
Northland Capital Partners Limited
Matthew Johnson / Gerry Beaney	[phone]
John Howes
Blytheweigh	[phone]
Nick Elwes	[phone]
Camilla Horsfall	[phone]
Teneo PSG
Ciaran Flynn	[phone]
Alan Tyrrell	[phone]

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)	(a)  Price(s) Volume(s) 1.72p 2,906,977 (b)  Price(s) 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)	(a)  Price(s) Volume(s) 1.72p 872,093 (b)  Price(s) 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

 

END

 

 

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