Business
Issue of Equity in lieu of Remuneration
Issue of Equity in lieu of Remuneration.
About this update from Imc Exploration Group Plc
[{"type":"text","content":"\n \n THE DIRECTORS OF IMC EXPLORATION GROUP PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE \"MARKET ABUSE REGULATION\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n IMC Exploration Group Public Limited Company\n (“IMC” or the “Company”)\n \n Award of New Ordinary Shares In lieu of Monetary Compensation\n \n IMC announces that the Board of Directors has resolved to issue as follows in lieu of monetary remuneration an aggregate of 14,794,916 new ordinary shares of €0.001 each in the capital of the Company at 0.63 pence Sterling per share (the “Remuneration Shares”), being the mid-market closing price on 16th December 2022 on the main market of the London Stock Exchange of the Company’s shares:\n \n \n \n Allottee\n \n \n Position\n \n \n No. of Remuneration Shares\n \n \n \n Eamon P. O'Brien:\n Executive Chairman\n 8,219,398\n \n \n Lisa McDonnell\n Senior Administrator\n 6,575,518\n \n \n \n Total\n \n \n \n 14,794,916\n \n \n \n \n Application shall be made to the Financial Conduct Authority (“FCA”) for the Remuneration Shares, which rank pari passu in all respects with the Company existing ordinary shares in issue, to be admitted to the standard segment of FCA’s Official List and to the London Stock Exchange for admission to trading on main market (together, “Admission”). A further announcement in this connection shall be made shortly.\n Directors’ and other notifiable Interests\n Prior to the allotment and Admission of the Remuneration Shares, Eamon P. O’Brien, a Director and the Executive Chairman of IMC, held 6,240,000 shares equating to 2.00% (two per cent.) of the voting rights in the capital of the Company. Following Admission of the Remuneration Shares he will hold 14,459,398 share or 4.43% (four point four three per cent.) of the voting rights in the capital as it shall have been enlarged by the 14,794,916 Remuneration Shares.\n Lisa McDonnell previously held 12,290,000 shares equating to 3.95% (three point nine five per cent.) of the voting rights. Following Admission of the Remuneration Shares, Ms. M...