Blencowe Resources PLC Director Warrant Exercise and Purchase of Shares (0901G)
November 23 2020 - 2:00AM
UK Regulatory
TIDMBRES
RNS Number : 0901G
Blencowe Resources PLC
23 November 2020
Date: 23 November 2020
Blencowe Resources Plc
("Blencowe" or the "Company")
Director Warrant Exercise and Purchase of Shares
Blencowe Resources, the natural resources company focused on
development of the Orom-Cross Graphite Project in Uganda, is
pleased to announce that Directors Cameron Pearce and Sam Quinn
have increased their holdings in the Company through the purchase
of 500,000 shares and 250,000 shares respectively, pursuant to the
exercise of warrants at 4p per share. Following the acquisition of
shares Mr Pearce now has a shareholding of 6,500,000 Ordinary
Shares (6.4% of the enlarged share capital ) and Mr Quinn has a
shareholding of 4,250,000 Ordinary Shares (4.1% of the enlarged
share capital ). In addition, the Company has received warrant
exercise notices in respect of a further 1,000,000 ordinary shares
at 4p per share from other warrant holders (together, the "Warrant
Shares"). The aggregate proceeds from the exercise of the Warrant
Shares are GBP70,000.
An application has been made for the 1,750,000 ordinary shares
of 0.5p to be admitted to trading on the London Stock Exchange with
effect from 8.00 a.m. on 27 November 2020 ("Admission").
In accordance with the FCA's Disclosure Guidance and
Transparency Rules, the Company confirms that following the issue
of the Warrant Shares, the Company's enlarged issued ordinary share
capital will comprise 103,423,132 Ordinary Shares. The Company does
not hold any Ordinary Shares in Treasury. Therefore, following
Admission, the above figure may be used by shareholders in the
Company as the denominator for the calculations to 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.
PDMR Notification Form
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Cameron Pearce
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Chairman
--------------------------------------- --------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Blencowe Resources PLC
--------------------------------------- --------------------------------------------
b) LEI 213800UXIHBIRK36GG11
--------------------------------------- --------------------------------------------
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 Ordinary shares
financial instrument,
type of instrument
Identification code GB00BFCMVS34
b) Nature of the transaction Purchase of shares following exercise
of warrants
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
GBP0.04 500,000
----------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume 500,000
- Price GBP20,000
e) Date of the transaction 23/11/2020
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Sam Quinn
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
--------------------------------------- --------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Blencowe Resources PLC
--------------------------------------- --------------------------------------------
b) LEI 213800UXIHBIRK36GG11
--------------------------------------- --------------------------------------------
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 Ordinary shares
financial instrument,
type of instrument
Identification code GB00BFCMVS34
b) Nature of the transaction Purchase of shares following exercise
of warrants
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
GBP0.04 250,000
----------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume 250,000
- Price GBP10,000
e) Date of the transaction 23/11/2020
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- --------------------------------------------
For further information please contact:
Blencowe Resources Plc
Sam Quinn (London Director)
www.blencoweresourcesplc.com
Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Brandon Hill Capital Limited Tel: +44 (0)20 3463 5000
Jonathan Evans (Corporate Finance) jonathan.evans@brandonhillcapital.com
Background
Orom-Cross is a potential world class graphite project both by
size and end-product quality, with a high component of larger
flakes identified from previous work performed. A 21-year Mining
Licence was issued by the Ugandan Government in 2019 following
extensive historical work on the deposit.
Orom-Cross presents as a large, shallow open pitable deposit,
with an estimated resource in excess of 3 billion tonnes of
graphite. Development of the resource is expected to benefit from a
low strip ratio and free dig operations, thereby ensuring lower
operating and capital costs.
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END
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