Business
Issue of Settlement Shares and TVR
Issue of Settlement Shares and TVR.
About this update from Harvest Minerals Limited
[{"type":"text","content":"\n\n \n30 June 2025\nHarvest Minerals Limited\n(\"Harvest\" or the \"Company\")\n \nIssue of Settlement Shares and TVR\n \nHarvest Minerals Limited, the AIM listed organic fertilizer producer, is pleased to announce the settlement of c. £342,000 of director / company secretary fees, through the issue of, in aggregate, 114,000,000 new ordinary shares of no par value at a price of 0.3p (\"Issue Price\") (the \"Equity Issue\"). The Equity Issue shares will be subject to a hard lock-in for six months from the date of Admission. The Issue Price is the same as the price at which the Company's fundraise as announced on 23 June 2025 was undertaken, and approximately equal to the current market price.\n \nIssue of Settlement Shares\n \nThe Equity Issue of 114,000,000 new Ordinary Shares is to three of the four Board members, and to Palisade Business Consulting (which provides the Company with accounting and company secretary services) as settlement for all fees outstanding to the various parties up until 30 June 2025. As has been previously disclosed, Jack James is a director and shareholder of Palisade Business Consulting:\n \n\n\n\n\nParty\n\n\nFees Owed (£)\n\n\nNo. of Settlement Shares issued\n\n\n\n\nBrian McMaster\n\n\n132,000\n\n\n44,000,000\n\n\n\n\nLuis Azevedo\n\n\n120,000\n\n\n40,000,000\n\n\n\n\nJack James\n\n\n29,594\n\n\n9,864,667\n\n\n\n\nPalisade Business Consulting (PBC)\n\n\n60,406\n\n\n20,135,333\n\n\n\n\nTotal\n\n\n342,000\n\n\n114,000,000\n\n\n\n\n \n \nFollowing the issue of the Settlement Shares, the Directors holdings will be as below:\n \n\n\n\n\n \n\n\n \n\n\nShareholdings\n\n\n \n\n\n\n\nDirector\n\n\nPosition\n\n\nCurrent\nHolding\n\n\nSettlement Shares\n\n\nHolding on Admission\n \n\n\n% on\nAdmission\n\n\n\n\nBrian McMaster\n\n\nExecutive Chairman\n\n\n35,842,996\n\n\n44,000,000\n\n\n79,842,996\n\n\n15.9%\n\n\n\n\nLuis Azevedo\n\n\nNon-Executive Director\n\n\n17,645,135\n\n\n40,000,000\n\n\n57,645,135\n\n\n11.5%\n\n\n\n\nJack James, inc. PBC\n\n\nNon-Executive Director\n\n\n13,135,200\n\n\n30,000,000\n\n\n43,135,200\n\n\n8.6%\n\n\n\n\n \nRelated Party Transaction\nThe issue of the Settlement Shares constitutes a related party transaction under AIM Rule 13 of the AIM Rules for Companies. Alex Penha, as the independent director of the Compan...