Director/PDMR transactions

RNS Number : 7211T

URU Metals Limited

09 January 2017

 

URU Metals Limited

("URU Metals" or "the Company")

Director/PDMR transactions

Further issue of equity

Total voting rights

Following the announcement released earlier today in relation to the placing of 171,111,110 new Ordinary Shares by the Company, the Company is pleased to announce that:

·   David Subotic and John Zorbas have now each subscribed for 3,333,333 new Ordinary Shares for a total of 6,666,666 new Ordinary Shares (the "Subscription Shares"), on the same terms as the Placing; and

·   it has issued a further 22,222,224 Ordinary Shares in response to market demand, increasing the total number of Placing Shares to 193,333,334.

As a result, the Company has now conditionally raised £900,000 by the issue of 200,000,000 new Ordinary Shares. The Placing Shares and the Subscription Shares (together the "New Shares") represent 27.2 per cent. of the enlarged issued share capital of the Company.

Application for Admission

Application will be made for the New Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will be effective on 13 January 2017.

Following Admission, the interests of the Directors in the Company's enlarged share capital will be as follows:

	Subscription Shares	Total shareholding	Per cent.
David Subotic	3,333,333	21,663,333	2.9
John Zorbas	3,333,333	27,533,333	3.7

Following Admission, Niketo Co.Ltd will be interested in 114,826,897 Ordinary Shares, representing 15.6 per cent. of the Company's enlarged share capital.

Total voting rights

Following Admission, the Company's share capital will consist of 736,182,603 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 736,182,603. 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 under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

END

For further information, please contact:

URU Metals Limited John Zorbas (Chief Executive Officer)	[phone]
Northland Capital Partners Limited (Nominated Adviser and Joint Broker) Edward Hutton / Matthew Johnson	+ 44 (0) 203 861 6625
Beaufort Securities Limited (Joint Broker) Jonathan Belliss	+ 44 (0) 207 382 8300
SVS Securities Plc (Joint Broker) Tom Curran	[phone]

 

END

 

 

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