TIDMHAMA
RNS Number : 6164K
Hamak Gold Limited
22 December 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR
POSSESSION THEREOF OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC
LAW IN THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND
("UK") PURSUANT TO THE MARKET ABUSE (AMMENT) (EU EXIT) REGULATIONS
(SI 2019/310) ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED
IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS
CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN
PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK
MAR).
UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY
INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION
(AS DEFINED IN UK MAR) IN A MARKET SOUNDING ARE NO LONGER IN
POSSESSION OF SUCH INSIDE INFORMATION, WHICH IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
22 December 2022
Hamak Gold Limited
("Hamak Gold" or the "Company")
Subscription and Placing for new shares to raise GBP295,750
Issue of shares in lieu of drilling contract fees
Total Voting Rights
Subscription for new Shares
Hamak Gold Limited (LSE: HAMA) is pleased to announce that it
has raised gross proceeds of GBP295,750 (before expenses), from
Directors, existing shareholders and new investors (the
"Subscription") for 3,380,000 new ordinary shares of no par value
("Ordinary Shares") at a price of 8.75 pence each (the
"Subscription Price") (the "Subscription Shares"), which is a
discount of 5.4% to the closing price of 9.25 pence per Ordinary
Share traded on the main market for listed securities (the "Main
Market") of London Stock Exchange plc (the "LSE") on 20 December
2022. The Company has utilised existing shareholder authorities for
the subscription.
The Subsciption is conditional only on admission of the
Subscription Shares to listing on standard segment of the Official
List ("Standard Listing") of the Financial Conduct Authority (the
"FCA") and to trading on the Main Market of the LSE
("Admission").
Use of Net Proceeds
The Company intends to use the net proceeds of the Subscription
to fund ongoing exploration in Liberia and in particular at its
Nimba licence, where an initial drilling programme has intersected
near surface gold mineralization of 20m @ 7g/t Au including 5m @
22g/t Au that is associated with a mineralized and outcropping
metadolerite unit that returned rock chip sample grades of 37g/t Au
and 45g/t Au and over which channel sampling identified a
mineralized zone over 55m in length, including a higher grade zone
of 14m @ 2g/t Au. The net proceeds will also be used for general
working capital.
Issue of Shares in Lieu of Directors' Fees
The Company further announces that it has issued new ordinary
shares to the following Directors in respect of fees earned for the
most recent quarter since admission to the London Stock Exchange on
1 March 2022.
The above fees are in line with the 2,520,000 Fee Shares
arrangement that is set out in the Company's Prospectus, and are
based on a price of 10 pence per share.
Name No. of Shares
Amara Kamara 145,000
--------------
Karl Smithson 125,000
--------------
Julius Baiden 50,000
--------------
Niall Young 50,000
--------------
Walter McCarthy 50,000
--------------
Martin Lampshire 45,472
--------------
Total 465,472
--------------
Issue of Shares in Lieu of Drilling Contract Fees
The Company further announces that it has issued 781,250 new
ordinary shares to a director of Cestos Drilling in lieu of the
recently completed 450m drilling programme at Nimba, as announced
on 13 November 2022, issued at a price of 10 pence per share.
All the newly issued Subscription Shares, Director Fee Shares
and Drilling Fee Shares are expected to be admitted to trading on
the 4 January 2022. Following Admission the enlarged share capital
of the Company will be 44,330,666 shares. The Subscription Shares,
Director Fee Shares and Drilling Fee Shares when issued, will be
credited as fully paid and rank pari passu in all respects with the
existing Ordinary Shares of the Company.
Admission and Total Voting Rights
The Company has made applications to the FCA and the LSE to have
4,626,722 shares admitted to the Standard Listing and to trading on
the Main Market with Admission expected to occur on or around 4
January 2023.
On Admission, the Company's issued share capital will comprise
44,330,666 Ordinary Shares, with each Ordinary Share carrying the
right to one vote. Accordingly, the total number of voting rights
in the Company will be 44,330,666 and this figure may be used by
shareholders as the denominator for the calculations by which they
will 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.
For the purposes of UK MAR, the person responsible for arranging
release of this announcement on behalf of Hamak Gold is Karl
Smithson, Executive Director.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Nicholas Karl Smithson
2. Samuel Julius Baiden
3. Kenneth Niall Young
4. Walter Seward McCarthy
5. Amara Kamara
6. Martin Lampshire
---------------------------- -------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status 1. Executive Director
2. Non-Executive Director
3. Non-Executive Director
4. Non-Executive Director
5. Chairman
6. Non-Executive Director
---------------------------- -------------------------------------------------
b) Initial notification Amendment
/Amendment
---------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Hamak Gold Limited
---------------------------- -------------------------------------------------
b) LEI 213800NL4ICLKYSYU749
---------------------------- -------------------------------------------------
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 Ordinary Shares of no par value each
of the financial
instrument,
type of instrument ISIN: VGG4256S1048
Identification
code
---------------------------- -------------------------------------------------
b) Nature of Issue of Fee Shares (as applicable)
the transaction
---------------------------- -------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 1. N/A 1. 125,000
2. N/A 2. 50,000
3. N/A 3. 50,000
4. N/A 4. 50,000
5. N/A 5. 145,000
6. N/A 6. 45,472
------------
---------------------------- -------------------------------------------------
d) Aggregated 465,472
information
Price N/A
---------------------------- -------------------------------------------------
e) Date of the 21.12.2022
transaction
---------------------------- -------------------------------------------------
f) Place of the Outside a trading venue
transaction
---------------------------- -------------------------------------------------
4. Details of the transaction(s): section to be repeated
(cont,) 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 Ordinary Shares of no par value each
of the financial
instrument,
type of instrument ISIN: VGG4256S1048
Identification
code
----------------------- ---------------------------------------------
b) Nature of Issue of Placing Shares (as applicable)
the transaction
----------------------- ---------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) Martin Lampshire
8.75 pence 470,999
----------
----------------------- ---------------------------------------------
d) Aggregated 470,999
information
Price GBP41,212.41
----------------------- ---------------------------------------------
e) Date of the 21.12.2022
transaction
----------------------- ---------------------------------------------
f) Place of Outside a trading venue
the transaction
----------------------- ---------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
----------------------------------------------------------------------
a) Name Sara Jane Smithson
----------------------- ---------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Person closely associated with (i.e., spouse
of) Nicholas Karl Smithson
----------------------- ---------------------------------------------
b) Initial notification Amendment
/Amendment
----------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Hamak Gold Limited
----------------------- ---------------------------------------------
b) LEI 213800NL4ICLKYSYU749
----------------------- ---------------------------------------------
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 Ordinary Shares of no par value each
of the financial
instrument,
type of instrument ISIN: VGG4256S1048
Identification
code
----------------------- ---------------------------------------------
b) Nature of Issue of Placing Shares (as applicable)
the transaction
----------------------- ---------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) 8.75 pence 294,286
----------
----------------------- ---------------------------------------------
d) Aggregated 294,286 Placing Shares
information
Price GBP25,750.03
----------------------- ---------------------------------------------
e) Date of the 21.12.2022
transaction
----------------------- ---------------------------------------------
f) Place of Outside a trading venue
the transaction
----------------------- ---------------------------------------------
- Ends -
For further information please contact:
Hamak Gold Limited
Amara Kamara +231 (0) 77 005 0005
Karl Smithson +44 (0) 77 837 07971
Peterhouse Capital Limited (Broker)
Lucy Williams
Guy Miller +44 (0) 20 7469 0930
Yellow Jersey PR
Tom Randell
Annabelle Wills + 44 (0) 7948 758 681
About Hamak Gold Limited
Hamak Gold Limited (LSE: HAMA) is a UK listed company focussed
on gold exploration of a portfolio of licences in highly
prospective areas of Liberia and having a growth strategy that
considers other exploration and development opportunities in the
wider West Africa region.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOEPPGWPPUPPUBP
(END) Dow Jones Newswires
December 22, 2022 04:27 ET (09:27 GMT)
Hamak Gold (LSE:HAMA)
Historical Stock Chart
From Apr 2024 to May 2024
Hamak Gold (LSE:HAMA)
Historical Stock Chart
From May 2023 to May 2024