Issue of Equity & TVR

RNS Number : 9495T

Galileo Resources PLC

29 November 2021

 

29 November 2021

Galileo Resources Plc

("Galileo" or the "Company")

Issue of Equity & TVR

The Board of Galileo (AIM: GLR) confirms that, the Company has issued a total of 18,591,363 shares, which includes the 17,358,363 shares ("Fee Shares") which was approved by shareholders at the last AGM, to settle contractually accrued but unpaid fees due to directors and consultants in respect of the period from October 2018 to March 2021, amounting to £118,750 (the "Accrued Fees") as well as 1,233,000 shares ("Consultant Fee Shares") issued at an issue price of 2.68p per share, to a consultant of the Company in relation to fees amounting to £22,030.

The Accrued Fees includes accrued fees owed to directors totalling £106,250 (£65,000 owed to Mr Bird and £41,250 to Mr Wollenberg). Accordingly Mr Bird has been issued 10,570,862 Ordinary Shares and Mr Wollenberg 5,854,170 Ordinary Shares, following which Mr Bird will be interested in a total of 78,605,862 Ordinary Shares representing 7.22% of the Company's enlarged issued share capital and Mr Wollenberg will be interested in a total of 13,575,511 Ordinary Shares representing 1.25% of the Company's enlarged issued share capital.

Application will be made for admission of the Fee Shares  and Consultant Fee Shares to trading on AIM ("Admission"), with Admission expected to occur on or around 3 December 2021. Following the issue of the Fee Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 1,089,134,344 ordinary shares in issue, all of which have voting rights. Shareholders in the Company may use this figure as the denominator for the calculation, by which they would determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules. 

You can also follow Galileo on Twitter: @GalileoResource

For further information, please contact: Galileo Resources PLC

Colin Bird, Chairman Edward Slowey, Executive Director	Tel [phone] Tel [phone]
Beaumont Cornish Limited - Nomad Roland Cornish/James Biddle	Tel [phone]
Novum Securities Limited - Joint Broker Colin Rowbury /Jon Belliss	[phone]
Shard Capital Partners LLP - J oint Broker Damon Heath	Tel [phone]

Colin Bird 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Colin Bird 2 Reason for notification a) Position / status CEO and Chairman b) Initial notification /Amendment Initial 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Galileo Resources plc b) LEI 213800KSRIVLX7BJSP45 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 Ordinary shares of 0.1 pence each in Galileo Resources plc Issue of Ordinary Shares ISIN GB00B115T142 Nature of the transaction Issue of ordinary shares  c) Price(s) and volumes(s) Price(s) Volumes(s) 0.615  pence 10,570,862 d) Aggregated information n/a e) Date of the transaction 29 November2021 f) Place of the transaction Off market

Richard Wollenberg 1 Details of the person discharging managerial  responsibilities  /  person  closely associated a) Name Richard Wollenberg 2 Reason for notification a) Position / status Non-Executive Director b) I nitial notification /Amendment Initial 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Galileo Resources plc b) LEI 213800KSRIVLX7BJSP45 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 I d e ntification code Ordinary shares of 0.1 pence each in Galileo Resources plc Issue of Ordinary Shares ISIN GB00B115T142 Nature of the transaction Issue of ordinary shares  c) Price(s) and volumes(s) Price(s) Volumes(s) 0.705  pence 5,854,170 d) Aggregated information n/a e) Date of the transaction 29 November 2021 f) Place of the transaction Off market

 

END

 

 

MSCPPGQCGUPGGRB