Placing to Raise £270,000

About this update from Arkle Resources Plc

    2 May 2024   Arkle Resources PLC   ("Arkle" or the "Company")   Placing to Raise £270,000   Arkle Resources PLC (AIM:ARK), the Irish Gold and Zinc resources discovery company, is pleased to announce that it has raised £270,000  (before expenses) through a placing of 108,000,000  new ordinary shares at a price of 0.25p per share (the "Placing Shares") (the "Placing"). Each Placing Share has one warrant attached with the right to subscribe for one new ordinary share at 0.35p for a period of two years.   USE OF FUNDS The net funds received from the Placing will be used for the recently announced Lithium exploration programme as well as for general corporate activities.   DIRECTOR PARTICIPATION John Teeling and David Cockbill, both directors of the Company, have participated in the Placing on the same terms as described above as follows:   No. of Placing Shares subscribed for Resultant shareholding % of enlarged share capital John Teeling 10,000,000 51,947,202 9.20 David Cockbill 6,000,000 13,435,408 2.34                             RELATED PARTY TRANSACTION The participation of John Teeling and David Cockbill in the Placing is a related party transaction for the purposes of AIM Rule 13 of the AIM Rules for Companies. The Director independent of the Placing (being James Finn) considers, having consulted with SP Angel Corporate Finance LLP, the Company's Nominated Adviser, that the participation in the Placing by Mr Teeling and Mr Cockbill is fair and reasonable in so far as Arkle's shareholders are concerned.   ADMISSION AND TOTAL VOTING RIGHTS An application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Placing Shares on AIM will commence on or around 9 May 2024.   In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that on completion of the Placing and following Admission, the Company's enlarged issued ordinary share capital will comprise 564,810,997 Ordinary Shares.   The Company does not hold any Ordinary Shares in Treasury.  Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.   Market Abuse Regulation (MAR) Disclosure   This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.     ENDS   Enquiries:   Arkle Resources PLC John Teeling, Chairman +353 (0) 1 833 2833 Jim Finn, Finance Director +353 (0) 1 833 2833 SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker Matthew Johnson   +44 (0) 203 470 0470 Adam Cowl Kasia Brzozowska First Equity Limited Joint Broker Jason Robertson   +44 (0) 207 374 2212 BlytheRay   +44 (0) 207 138 3204 Megan Ray Teneo   Luke Hogg   +353 (0) 1 661 4055 Alan Tyrrell Fia Long Alan Reynolds   Dealings by Persons Discharging Managerial Responsibilities    1   Details of the person discharging managerial responsibilities / person closely associated   a)   Name 1)    John Teeling 2)    David Cockbill 2   Reason for the notification   a)   Position/status 1)    Chairman 2)    Director b)   Initial notification /Amendment  Initial Notification 3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)   Name  Arkle Resources plc b)   LEI   213800CTOO8MOLMNEQ44   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 €0.0025 each.   Identification code ISIN: IE00B2357X72   b)   Nature of the transaction   Participation in Placing c)   Price(s) and volume(s)         Director Price Volume John Teeling                0.25p 10,000,000 David Cockbill 0.25p 6,000,000                           d)   Aggregated information - Aggregated volume N/A - Price 0.25 pence e)   Date of the transaction 2 May 2024 f)   Place of the transaction Off-market    1   Details of the person discharging managerial responsibilities / person closely associated   a)   Name 1)    John Teeling 2)    David Cockbill 2   Reason for the notification   a)   Position/status 1)    Chairman 2)    Director b)   Initial notification /Amendment  Initial Notification 3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)   Name  Arkle Resources plc b)   LEI   213800CTOO8MOLMNEQ44   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 €0.0025 each.   Identification code ISIN: IE00B2357X72   b)   Nature of the transaction   Grant of warrants c)   Price(s) and volume(s)         Director Price Volume John Teeling               0.35p 10,000,000 David Cockbill 0.35p 6,000,000                           d)   Aggregated information - Aggregated volume N/A - Price 0.35 pence e)   Date of the transaction 2 May 2024 f)   Place of the transaction Off-market  

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