Business
Directors’ Subscriptions; Issue of Equity
Directors’ Subscriptions; Issue of Equity.
About this update from Firering Strategic Minerals Plc
[{"type":"text","content":"\n\n Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining\n28 June 2024\nFirering Strategic Minerals Plc\n(\"Firering\", the \"Company\" or the \"Group\")\n \nDirectors' Subscriptions; Issue of Equity\n \nFirering Strategic Minerals Plc (AIM:FRG), an exploration and development company focusing on strategic minerals, announces that, further to the recent Placing and Subscription announced on 28 May 2024, Youval Rasin (non-executive chairman), Yehoshua Shai Kol (chief financial officer), Remy Welschinger (independent non-executive director) and Vassilios Carellas (independent non-executive director) (together the \"Subscribing Directors\"), have subscribed for, in aggregate, 7,931,035 new ordinary shares of €0.001 each in the Company (the \"Ordinary Shares\") at a price of 2.9 pence per Ordinary Share (the \"Director Subscription Shares\"), raising additional gross cash proceeds of £230,000 (\"the Directors' Subscriptions\"). In total, the Placing, the Subscription and the WRAP Retail Offer, together with the Directors' Subscriptions, raised £2.319 million (gross).\n \nPursuant to MAR, the directors of the Company, together with their related parties, were not permitted to enter into the subscription agreement until after publication of the Final Results, which took place at 700 a.m. on 27 June 2024: https://bit.ly/3ztei6x.\n \nRelated Party Transactions\nThe Subscriptions by each of Youval Rasin, Yehoshua Shai Kol, Remy Welschinger and Vassilios Carellas constitute related party transactions under AIM Rule 13 of the AIM Rules for Companies. \n \nYuval Cohen, the Independent Director for this purpose, having consulted with the Company's Nominated Adviser, considers the terms of the subscriptions by the Subscribing Directors to be fair and reasonable insofar as the Company's shareholders are concerned.\n \nIssue of Equity\n1,986,349 Ordinary Shares (\"Fee Shares\") have been issued, at an issue price of 2.9 pence per share to certain advisors and suppliers to the Company in settlement of fees due of £57,604.\n \nAdmission and Total Voting Rights\nApplication will be made to the London Stock Exchange for admission of the 7,931,035 Subscription Shares and 1,986,349 Fee Shares, making a total of 9,917,384 shares to trading on AIM. It is expected that admiss...