Directors’ Subscriptions; Issue of Equity

Firering Strategic Minerals PLC

28 June 2024

 

 Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

28 June 2024

Firering Strategic Minerals Plc

("Firering", the "Company" or the "Group")

Directors' Subscriptions; Issue of Equity

Firering Strategic Minerals Plc (AIM:FRG), an exploration and development company focusing on strategic minerals, announces that, further to the recent Placing and Subscription announced on 28 May 2024, Youval Rasin (non-executive chairman), Yehoshua Shai Kol (chief financial officer), Remy Welschinger (independent non-executive director) and Vassilios Carellas (independent non-executive director) (together the "Subscribing Directors"), have subscribed for, in aggregate, 7,931,035 new ordinary shares of €0.001 each in the Company (the "Ordinary Shares") at a price of 2.9 pence per Ordinary Share (the "Director Subscription Shares"), raising additional gross cash proceeds of £230,000 ("the Directors' Subscriptions").  In total, the Placing, the Subscription and the WRAP Retail Offer, together with the Directors' Subscriptions, raised £2.319 million (gross).

Pursuant to MAR, the directors of the Company, together with their related parties, were not permitted to enter into the subscription agreement until after publication of the Final Results, which took place at 700 a.m. on 27 June 2024: https://bit.ly/3ztei6x.

Related Party Transactions

The Subscriptions by each of Youval Rasin, Yehoshua Shai Kol, Remy Welschinger and Vassilios Carellas constitute related party transactions under AIM Rule 13 of the AIM Rules for Companies. 

Yuval Cohen, the Independent Director for this purpose, having consulted with the Company's Nominated Adviser, considers the terms of the subscriptions by the Subscribing Directors to be fair and reasonable insofar as the Company's shareholders are concerned.

Issue of Equity

1,986,349 Ordinary Shares ("Fee Shares") have been issued, at an issue price of 2.9 pence per share to certain advisors and suppliers to the Company in settlement of fees due of £57,604.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the 7,931,035 Subscription Shares and 1,986,349 Fee Shares, making a total of 9,917,384 shares to trading on AIM. It is expected that admission will become effective and dealings in the Subscription Shares will commence on AIM at 8.00 a.m. on or around 4 July 2024.

The Subscription Shares and Fee Shares have been issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 183,791,532 with voting rights. 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 a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Company's announcement made at 4.33 p.m. on 28 May 2024, unless the context requires otherwise.

Revised shareholdings following Admission

On Admission, the revised shareholdings of the following PDMR's will be:

Name	Position	Holding of Ordinary Shares	% of Enlarged issued share capital
Youval Rasin	Non-Executive Chairman	16,442,891	8.95%
Yehoshua Shai Kol	Chief Financial Officer	8,867,984	4.83%
Vassilios Carellas	Independent Non-Executive Director	1,188,329	0.65%
Remy Welschinger	Independent Non-Executive Director	2,689,138	1.46%
Yuval Cohen	Chief Executive Officer	2,067,000	1.12%

For further information on the Company, please visit www.fireringplc.com  or contact:

Firering Strategic Minerals Yuval Cohen	Tel: [phone]
SPARK Advisory Partners Limited (Nominated Adviser) Neil Baldwin / James Keeshan / Adam Dawes	T: [phone]
Optiva Securities Limited (Joint Broker) Christian Dennis / Daniel Ingram	T: [phone]
Shard Capital Partners LLP (Joint Broker) Damon Heath / Erik Woolgar	T: 020 7186 9950
St Brides Partners Limited (Financial PR) Isabel de Salis / Susie Geliher / Isabelle Morris	E: [e-mail]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Youval Raisin
2	Reason for the notification
a)	Position/status	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	Firering Strategic Minerals PLC
b)	LEI	213800WAVVOPS85N2205
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	Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC
	Identification code
b)	Nature of the transaction	Subscription for Ordinary Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			2.9 pence	3,448,276
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	27 June 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Remy Welschinger
2	Reason for the notification
a)	Position/status	Independent Non-Executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Firering Strategic Minerals PLC
b)	LEI	213800WAVVOPS85N2205
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	Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC
	Identification code
b)	Nature of the transaction	Subscription for Ordinary Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			2.9 pence	1,724,138
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	27 June 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Yehoshua Shai Kol
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Firering Strategic Minerals PLC
b)	LEI	213800WAVVOPS85N2205
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	Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC
	Identification code
b)	Nature of the transaction	Subscription for Ordinary Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			2.9 pence	1,724,138
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	27 June 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Vassilios Carellas
2	Reason for the notification
a)	Position/status	Independent Non-Executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Firering Strategic Minerals PLC
b)	LEI	213800WAVVOPS85N2205
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	Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC
	Identification code
b)	Nature of the transaction	Subscription for Ordinary Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			2.9 pence	1,034,483
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	27 June 2024
f)	Place of the transaction	Outside a trading venue

 

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