Business
Issue of Final Shares for Leigh Creek Copper Mine
Issue of Final Shares for Leigh Creek Copper Mine.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 6712R Strategic Minerals PLC 04 March 2019 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n4th March 2019\nStrategic Minerals plc\n(\"Strategic Minerals\", \"SML\" or the \"Company\")\nIssuance of Final Shares for Leigh Creek Copper Mine Acquisition\nStrategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, is pleased to announce that further to the announcement dated 10 April 2018, the Company has arranged the issuance of the remaining 2,866,730 shares due to Resilience Mining Australia Limited (\"RMA\"), in respect of the acquisition of Leigh Creek Copper Mine Pty Ltd (\"LCCM\"). \nUnder the Share Purchase Agreement (\"SPA\"), signed on 5 March 2018, the Company provided RMA shares in Strategic Minerals to the value of AUD 1,450,000 based on the March 2018 volume weighted average price and the relevant exchange rate as quoted by the Reserve Bank of Australia. As per the SPA, and to provide warranties associated with the acquisition, shares representing AUD 100,000 of the total amount were not to be issued until the first anniversary of the signing of the contract, provided no warranty claim was made during this one year period.\nThe boards of SML and RMA agreed that the total number of SML shares to be issued was 41,567,630, of which 38,700,900 were issued in March 2018 and the remaining 2,866,730 were be issued on 5 March 2019, subject to no warranty claim having been made. \n \nAdmission to AIM and Total Voting Rights\nApplication has been made for admission of these 2,866,730 new Ordinary Shares to trading on AIM (\"Admission\") and it is expected that Admission will take place and that trading will commence on AIM at 8.00 a.m. on 6 March 2019.\nFollowing Admission, there will be a total of 1,404,059,857 Ordinary Shares in issue. The Company does not hold any shares in treasury. Consequently, 1,404,059,857 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest ...