Results of Extraordinary General Meeting

RNS Number : 5073K

Arkle Resources PLC

22 April 2020

 

22 April 2020

Arkle Resources PLC

("Arkle" or the "Company")

Results of Extraordinary General Meeting

Resolutions relating to capital reorganisation passed and placing complete

Arkle Resources PLC (LON: ARK), the Irish gold and zinc exploration and development company, is pleased to announce that all special resolutions were duly passed at an Extraordinary General Meeting held earlier today in Dublin.

The share capital reorganisation has now been approved to allow the placing announced on 27 March 2020 to be completed.  Admission of the 50,400,000 Placing Shares to trading on AIM ("Admission") and the share capital reorganisation is expected on or around 24 April 2020.

Following Admission, Arkle will have a total of 182,711,593 ordinary shares of €0.0025 in issue with each ordinary share carrying the right to one vote.  This 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.

John Teeling, Chairman of Arkle, commented, " The recently announced placement is now complete and Arkle has announced plans to get back on the ground at Stonepark after restrictions are lifted, which we believe will begin to happen soon.  Work is also ongoing on our 100% owned gold projects at Mine River and Inishowen, trying new interpretation techniques, re-examining the data, we look forward to applying those findings in the field.

The impact of the Covid-19 pandemic is causing enormous loss of life but the economic costs are also important - economies need to get back to work.  We hope to see the zinc price strengthen when demand starts to return.  The future gold price is hard to predict but we are glad to have gold exploration assets."

Information for Editors

Arkle is a diversified exploration company with principal assets in gold and zinc exploration licences across Ireland.  The Company currently has two 100% owned gold projects (Mine River and Inishowen) and is in joint venture with Teck Ireland Ltd. at the Oldcastle Zinc Project and with Group Eleven Resources Corp. at the Stonepark Zinc Project.

ENDS

Enquiries:

Arkle Resources PLC
John Teeling, Chairman	[phone]
Patrick Cullen, CEO	[phone]
	[phone]
SP Angel Corporate Finance LLP
(Nominated Adviser and Joint Broker)
Matthew Johnson/Soltan Tagiev	[phone]
First Equity Limited	[phone]
Jason Robertson
Blytheweigh
Megan Ray	[phone]
Rachael Brooks
Teneo	[phone]
Luke Hogg	[phone]
Alan Tyrrell

 

END

 

 

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