Hancon Share Payment and Issue of Ordinary Shares

RNS Number : 2911Q

Rambler Metals & Mining PLC

27 June 2022

 

Rambler Metals and Mining PLC / AIM: RMM / Sector: Natural Resources

27 June 2022

Rambler Metals and Mining PLC ('Rambler' or the 'Company')

Hancon Share Payment and Issuance of Ordinary Shares

London, England, Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a copper and gold producer, explorer and developer, is pleased to announce that the Board of Directors has today authorised the issuance of 2,102,400 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to Hancon Construction Co. Ltd ("Hancon") at a deemed price of 29 pence per share. Hancon a member of the Alliance Agreement as previously announced on 9 June 2022, in lieu of a cash payment for services provided in 2021.

Admission to trading on AIM and Total Voting Rights

Application will be made for 2,102,400 new Ordinary Shares which will rank pari passu with the existing Ordinary Shares of the Company, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective, and dealings will commence at 8:00 a.m. on or around 1 July 2022.

Following the issue of the new Ordinary Shares, the total issued share capital of the Company will consist of 161,577,033 ordinary shares of 1 pence each.  The Company does not hold any Ordinary Shares in Treasury. Therefore, t he total current voting rights  in the Company following Admission will be 161,577,033and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development company that in November 2012 brought its first mine into commercial production.  Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

Rambler's focus is to regain its production profile at 1,350 metric tonnes per day at a targeted grade of 2% Cu in 2022 and evaluate expansion opportunities from that base.

Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer/Whalesback copper mines.

Rambler is listed in London under AIM:RMM.

For further information, please contact:

Toby Bradbury President and CEO Rambler Metals & Mining Plc Tel No: [phone] Fax No: [phone]	Celeste van Tonder CFO Rambler Metals & Mining Plc Tel No: [phone] Fax No: [phone]	Tim Sanford. P. Eng. Vice President and Corporate Secretary Rambler Metals & Mining Plc Tel No: [phone] Fax No: [phone]
Nominated Advisor (NOMAD)
Ewan Leggat, Caroline Rowe SP Angel Corporate Finance LLP Tel No: [phone]

 Website:   www.ramblermines.com  

 

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