Hummingbird Resources PLC Result of Open Offer and Director Dealing (1588Z)
January 10 2024 - 1:00AM
UK Regulatory
TIDMHUM
RNS Number : 1588Z
Hummingbird Resources PLC
10 January 2024
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
10 January 2024
Hummingbird Resources pl c
("Hummingbird" or the "Company")
Result of Open Offer and Director Dealing
Further to the announcement on 21 December 2023, Hummingbird
(AIM: HUM) provides the following update on the results of its open
offer to its existing shareholders to raise up to c.US$5.0 million
(GBP4.0 million) (the "Open Offer").
The Open Offer is additional to the conditional placement of
c.US$22.2 million, which includes a conditional investment by the
Company's largest shareholder and strategic investor CIG SA ("CIG")
(the "CIG Subscription") of US$20.2 million, and the US$5.5 million
already raised pursuant to the first tranche of this
fundraising.
The issue of the CIG Second Tranche Shares, the Second Tranche
Subscription Shares and the Open Offer Shares are all conditional
on the passing of Resolutions at the General Meeting to be held
later today, 10 January 2024. The Company will announce the result
of the General Meeting, and an updated total voting rights figure,
after it has concluded.
Results of Open Offer
The Company announces the closing of the Open Offer, and that it
has received valid applications, including those received under the
Excess Application Facility, in respect of a total of 2,369,119 new
Ordinary Shares, totalling c.GBP0.27 million ( c.US$0.34 million ).
Qualifying Shareholders who have validly applied for Open Offer
Shares pursuant to their Basic and Excess Shares Entitlement, will
receive their application in full assuming the Resolutions are
passed at the General Meeting.
Should the Resolutions be passed at the General Meeting, the sum
of the CIG Subscription, the Subscription and the Open Offer would
result in total gross proceeds for the Company of c.US$28.1 million
(c. GBP22.2 million).
Director Dealing
The Company also announces that Tom Hill, Finance Director of
the Company, has participated in the Open Offer and has
conditionally applied for 150,000 Open Offer Shares.
Following this participation, and on the basis that the
Resolutions are passed at the General Meeting, Tom Hill will be
beneficially interested in 641,574 Ordinary Shares, representing
approximately 0.08 per cent. of the Company's issued share capital
as enlarged by the fundraising.
Unless otherwise defined, capitalised terms have the same
meaning as per the Company's circular dated 21 December 2023.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
q Details of the person discharging managerial responsibilities / person closely associated
a) Name Tom Hill
-------------------------------------------------------- -------------------------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Finance Director
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Hummingbird Resources Plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800PBYMQ6Z2D7UZ96
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary Shares of 1 penny each
instrument
-------------------------------------------------------- -------------------------------------------------------
Identification code GB00B60BWY28
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the Transaction Conditional subscription for new Ordinary Shares
pursuant to open offer participation
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
11.2625 150,000
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information N/A
Aggregated volume Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 10 January 2024
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London
-------------------------------------------------------- -------------------------------------------------------
**ENDS**
Notes to Editors:
Hummingbird Resources plc (AIM: HUM) is a leading multi-asset,
multi-jurisdiction gold producing Company, member of the World Gold
Council and founding member of Single Mine Origin
(www.singlemineorigin.com). The Company currently has two core gold
projects, the operational Yanfolila Gold Mine in Mali, and the
Kouroussa Gold Mine in Guinea, which will more than double current
gold production once at commercial production. Further, the Company
has a controlling interest in the Dugbe Gold Project in Liberia
that is being developed by joint venture partners, Pasofino Gold
Limited. The final feasibility results on Dugbe showcase 2.76Moz in
Reserves and strong economics such as a 3.5-year capex payback
period once in production, and a 14-year life of mine at a low AISC
profile. Our vision is to continue to grow our asset base,
producing profitable ounces, while central to all we do being our
Environmental, Social & Governance ("ESG") policies and
practices.
For further information, please visit hummingbirdresources.co.uk or contact:
Daniel Betts, CEO Hummingbird Resources Tel: +44 (0) 20 7409
Thomas Hill, FD plc 6660
Edward Montgomery,
CD
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer Nominated Adviser 3494
-------------------------- ----------------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523
Broker 8000
-------------------------- ----------------------------
Bobby Morse Buchanan Tel: +44 (0) 20 7466
Oonagh Reidy Financial PR/IR 5000
George Pope Email: HUM@buchanan.uk.com
-------------------------- ----------------------------
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MSCGZGGMRLDGDZM
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