TIDMREE
RNS Number : 2864Z
Altona Rare Earths PLC
10 January 2024
10 January 2024
ALTONA RARE EARTHS PLC
("Altona" or "the Company")
PDMR Dealings and Issue of Equity
Altona (LSE: REE), a resource exploration and development
company focused on Rare Earths in Africa, announces that it has
issued new ordinary shares to certain Directors and senior
management in lieu of salaries and changes in contracts. It also
announces that it has been notified of an acquisition of ordinary
shares by a Director as detailed below.
Notification of PDMR acquisition of shares
In accordance with Article 19 of UK Market Abuse Regulation, the
Company was notified on 9 January 2024 that, Cedric Simonet, CEO,
acquired Ordinary Shares in the Company on 8 and 9 January
2024.
PDMR Purchase Number of Total Holding Percentage
price Shares Acquired following acquisition Holding following
of Shares acquisition
of Shares and
issue of equity
Cedric Simonet 2.0/2.1 pence 20,000/50,000 925,711 1.08%
--------------- ----------------- ----------------------- -------------------
Payments to Directors and Senior Management
The Company has issued 416,373 new ordinary shares of GBP0.01
each in lieu of cash salary payments for certain directors and
senior management. This was in accordance with the cash
conservation measures agreed, as an ongoing monthly arrangement, as
part of the Company's London Stock Exchange Listing arrangements.
The number of issued shares was calculated by dividing the amount
of quarterly salary or fees to be paid in shares by the volume
weighted average price ("VWAP") of the ordinary shares during the
last 10 days of the calendar period that the services were provided
(9 June 2023 - 31 August 2023), being 4.7663 pence per share.
The Company has also issued Christian Taylor-Wilkinson with
305,000 ordinary shares at a price of 5 pence per share, in lieu of
cash consideration for services provided up to 8 June 2023 and a
further 800,000 ordinary shares at a price of 3.125 pence per share
in lieu of cash consideration for a change in contract terms.
Of the total number of shares issued, 1,521,373 were issued to
PDMRs as shown in the table below:
PDMR Number of Total Holding Percentage Holding
Shares Issued following Issue following Issue
of Shares of Shares
Martin Wood 191,594 1,580,056 1.84%
--------------- ----------------- -------------------
Louise Adrian 105,306 405,306 0.47%
--------------- ----------------- -------------------
Christian Taylor-Wilkinson 1,224,473 6,086,844 7.08%
--------------- ----------------- -------------------
Admission and Total Voting Rights
Application is being made for the new ordinary shares to be
admitted to trading on the Main Market of the London Stock Exchange
which is expected to be on or around 16 January 2024. Following
this issue of 1,521,373 shares, which will rank pari passu with the
Company's existing ordinary shares, the Company's enlarged share
capital and total voting rights in the Company will comprise
85,967,107. The Company has no shares held in Treasury. This figure
of 85,967,107 ordinary shares 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.
Notification and public disclosure of transactions by Persons
Discharging Managerial Responsibilities (PDMR) and persons closely
associated with them.
1. Details of the person discharging managerial responsibilities/person closely associated
a) Name: Christian Taylor-Wilkinson
2. Reason for the notification
a) Position/status: Business Development Officer
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Altona Rare Earths Plc
b) LEI: 2138002A5GU9BFS2I491
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 GBP0.01
Identification code: ISIN Code: GB00BFZNKV91
b) Nature of the transaction: Ordinary Shares issued in lieu of salary
c) Price(s) and volume(s): Price(s) Volume(s)
GBP 0.047663 119,473
GBP0.05 305,000
GBP0.03125 800,000
d) Aggregated information: Volume 1,224,473
--Aggregated volume:
--Price:
e) Date of the transaction: 9 January 2024
f) Place of the transaction: Outside of a trading venue
Responsibilities (PDMR) and persons closely associated with
them.
1. Details of the person discharging managerial responsibilities/person closely associated
a) Name: Louise Adrian
2. Reason for the notification
a) Position/status: Chief Finance Officer
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Altona Rare Earths Plc
b) LEI: 2138002A5GU9BFS2I491
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 GBP0.01
Identification code: ISIN Code: GB00BFZNKV91
b) Nature of the transaction: Ordinary Shares issued in lieu of salary
c) Price(s) and volume(s): Price(s) Volume(s)
GBP 0.047663 105,306
d) Aggregated information: N/A
--Aggregated volume:
--Price:
e) Date of the transaction: 9 January 2024
f) Place of the transaction: Outside of a trading venue
Responsibilities (PDMR) and persons closely associated with
them.
1. Details of the person discharging managerial responsibilities/person closely associated
a) Name: Martin Wood
2. Reason for the notification
a) Position/status: Non-Executive Director - Chairman
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Altona Rare Earths Plc
b) LEI: 2138002A5GU9BFS2I491
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 GBP0.01
Identification code: ISIN Code: GB00BFZNKV91
b) Nature of the transaction: Ordinary Shares issued in lieu of salary
c) Price(s) and volume(s): Price(s) Volume(s)
GBP 0.047663 191,594
d) Aggregated information: N/A
--Aggregated volume:
--Price:
e) Date of the transaction: 9 January 2024
f) Place of the transaction: Outside of a trading venue
Responsibilities (PDMR) and persons closely associated with
them.
1. Details of the person discharging managerial responsibilities/person closely associated
a) Name: Cedric Simonet
2. Reason for the notification
a) Position/status: Executive Director - CEO
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Altona Rare Earths Plc
b) LEI: 2138002A5GU9BFS2I491
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 GBP0.01
Identification code: ISIN Code: GB00BFZNKV91
b) Nature of the transaction: Acquisition of shares in market place
c) Price(s) and volume(s): Price(s) Volume(s)
GBP0.021 20,000
GBP0.020 50,000
d) Aggregated information: GBP0.020
--Aggregated volume: 70,000
--Price:
e) Date of the transaction: 8 and 9 January 2024
f) Place of the transaction: London Stock Exchange
-ends-
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Altona Rare Earths Plc
Cedric Simonet, CEO +44 (0) 7778 866 108
Christian Taylor-Wilkinson, Business Development +44 (0) 7795
168 157
Novum Securities Ltd (Corporate Finance) +44 (0) 20 7399
9400
David Coffman
Daniel Harris
Allenby Capital Ltd (Joint Broker) +44 (0)20 3328 5656
Kelly Gardiner / Guy McDougall (Sales)
Nick Athanas (Corporate Finance)
Optiva Securities (Joint Broker) +44 (0) 20 3411 1882
Daniel Ingram
Yellow Jersey PR (Financial PR) +44 (0) 20 3004 9512
Sarah Hollins
Annabelle Wills
About Altona Rare Earths Plc
Altona is a resource exploration and development company focused
on Rare Earths in Africa. The Company is listed on the Main Market
of the London Stock Exchange.
Rare Earths are a group of 17 chemical elements, many of which
are critical to the W orld's on-going transition from carbon-based
to renewable energies, and to the defence and communication
sectors.
The Company currently focuses on the development of Monte
Muambe, its flagship Magnet Rare Earths Project, located in
Northwest Mozambique. The Project was acquired in June 2021, and
the Company has so far drilled over 7,800m, and defined a maiden
JORC Mineral Resource Estimate of 13.6 million tons at 2.42%
TREO.
A Competent Person Report including the Scoping Study for Monte
Muambe was published on 18 October 2023 and can be read here:
https://www.altonare.com/investors/reports/
Altona continues to take advantage of its position in Africa to
assess other possible Rare Earths opportunities on the
Continent.
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END
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