TIDMURAH

RNS Number : 2638A

URA Holdings PLC

23 May 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMMENT) (EU EXIT) REGULATIIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

URA Holdings plc

('URA' or 'the Company')

Placing and Subscription to raise GBP280,000 in ordinary shares and GBP50,000 by way of a convertible loan note (the "Fundraise")

URA is pleased to announce that it has raised GBP280,000 (before expenses) through a placing and subscription, issuing in aggregate 14,000,000 new ordinary shares in the capital of the Company ("New Ordinary Shares") at an issue price of 2p per New Ordinary Share. The placing and subscription elements of the Fundraise were oversubscribed and were limited by the maximum amount the Company can currently place within its existing disapplication of pre-emption rights authority.

In addition, the Company has also raised GBP50,000 by way of a convertible loan note (the "CLN") with Austin Acquisitions 1 Limited that will convert automatically following the next annual general meeting ("AGM") of the Company (expected to be held on or before 30 June 2023) subject to the approval by shareholders at the AGM of a resolution to disapply pre-emption rights in respect of the shares to be issued on conversion of the CLN . The CLN was utilised to allow additional new investors to participate in the overall Fundraise, which the Board considered an important development in diversifying the Company's shareholder base and facilitating participation by new investors.

The Fundraise was conducted at a 10% discount to the mid-market closing price on 19 May 2023 and is within the existing authority to issue shares for cash on a non pre-emptive basis.

The proceeds of the Fundraise will be used to place orders for critical equipment required for the restart of mining operations at the Gravelotte Emerald Mine and for general working capital. The main item that will be ordered is the Tomra optical sorter that needs to be custom manufactured in Germany to the specification required based on test work already conducted on material from the Gravelotte mine. The new equipment will take some time to manufacture and commission but will then enable the Company to bring Gravelotte quickly back into production.

Ed Nealon, Chairman of URA Holdings Plc commented:-

"I am pleased to announce a successful Fundraise which has been oversubscribed in difficult market conditions. We welcome the participation of new shareholders and participation in the CLN by Austin Acquisitions 1 Limited, a personal investment company of Mr Andrew Austin, which we believe speaks highly of confidence in our strategy and plans. We look forward to progressing into the next phase of mine development to bring forward our planned early move back into production. We remain extremely excited for the future of the Company."

Additional information

CLN

Austin Acquisitions 1 Limited have subscribed for GBP50,000 of CLNs convertible into ordinary shares in the Company. The CLNs are convertible at GBP0.02 per share into 2,500,000 ordinary shares and will be converted automatically immediately following the next AGM of the Company (expected to be held on or before 30 June 2023 subject to the approval by shareholders resolution to disapply pre-emption rights in respect of the shares to be issued on conversion of the CLN.. In the event that such resolution is not approved by shareholders, the CLN will be immediately repayable and carry interest at a rate of 15% per annum from the date of issue, if no conversion takes place before 30 June 2023. The CLN will be non-interest bearing in the event that conversion occurs following shareholder approval.

Application for Admission

Application will be made for the Placing and Subscription Shares to be admitted to trading on the Main Market of the London Stock Exchange. It is expected that admission will become effective on 29 May 2023.

The New Ordinary Shares will, on admission, rank pari passu in all respects with the ordinary shares currently in issue and will rank in full for all dividends and other distributions hereafter declared, paid or made on the ordinary share capital of the Company.

Total Voting Rights

Following the issue of the New Ordinary Shares, the Company will have 155,845,590ordinary shares in issue, each share carrying the right to one vote.

This figure of 155,845,590 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Guidance Disclosure and Transparency Rules.

-Ends-

 
 URA Holdings plc                     +44 (0)746 368 6497 
 
 
  CEO 
  Bernard Olivier 
                                info@uraholdingsplc.co.uk 
  COO 
  Jeremy Sturgess-Smith 
 Peterhouse Capital Limited 
 
 
  Corporate Broker 
  Lucy Williams 
  Duncan Vasey                        +44 (0)20 7469 0930 
 
 
       Notification and public disclosure of transactions by persons 
         discharging managerial responsibilities and persons closely 
                            associated with them. 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
     ---------------------------------------------------------------------- 
 a)   Name                   Edward Nealon 
     ---------------------  ----------------------------------------------- 
 2    Reason for the notification 
     ---------------------------------------------------------------------- 
 a)   Position/status        Chairman 
     ---------------------  ----------------------------------------------- 
 b)   Initial notification   Initial 
       /Amendment 
     ---------------------  ----------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer, or auction monitor 
     ---------------------------------------------------------------------- 
 a)   Name                   URA Holdings plc 
     ---------------------  ----------------------------------------------- 
 b)   LEI                    213800U6Z250COBY7781 
     ---------------------  ----------------------------------------------- 
 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        Ordinary Shares 
       instrument, 
       type of instrument 
       Identification          ISIN: GB00BD2B4T80 
       code 
     ---------------------  ----------------------------------------------- 
 b)   Nature of              Subscription for ordinary shares 
       the transaction 
     ---------------------  ----------------------------------------------- 
 c)   Price(s)               2,825,000 Ordinary Shares at GBP0.02 per share 
       and volume(s) 
     ---------------------  ----------------------------------------------- 
 d)   Aggregated             N/A 
       information 
       - Aggregated 
       volume 
       - Price 
     ---------------------  ----------------------------------------------- 
 e)   Date of the            22 May 2023 
       transaction 
     ---------------------  ----------------------------------------------- 
 f)   Place of               Off Market 
       the transaction 
     ---------------------  ----------------------------------------------- 
       Notification and public disclosure of transactions by persons 
         discharging managerial responsibilities and persons closely 
                            associated with them. 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
     ---------------------------------------------------------------------- 
 a)   Name                   Peter Redmond 
     ---------------------  ----------------------------------------------- 
 2    Reason for the notification 
     ---------------------------------------------------------------------- 
 a)   Position/status        Non-Executive Director 
     ---------------------  ----------------------------------------------- 
 b)   Initial notification   Initial 
       /Amendment 
     ---------------------  ----------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer, or auction monitor 
     ---------------------------------------------------------------------- 
 a)   Name                   URA Holdings plc 
     ---------------------  ----------------------------------------------- 
 b)   LEI                    213800U6Z250COBY7781 
     ---------------------  ----------------------------------------------- 
 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        Ordinary Shares 
       instrument, 
       type of instrument 
       Identification          ISIN: GB00BD2B4T80 
       code 
     ---------------------  ----------------------------------------------- 
 b)   Nature of              Subscription for ordinary shares 

       the transaction 
     ---------------------  ----------------------------------------------- 
 c)   Price(s)               750,000 Ordinary Shares at GBP0.02 per share 
       and volume(s) 
     ---------------------  ----------------------------------------------- 
 d)   Aggregated             N/A 
       information 
       - Aggregated 
       volume 
       - Price 
     ---------------------  ----------------------------------------------- 
 e)   Date of the            22 May 2023 
       transaction 
     ---------------------  ----------------------------------------------- 
 f)   Place of               Off Market 
       the transaction 
     ---------------------  -----------------------------------------------

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END

IOESEWFAEEDSEII

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May 23, 2023 02:00 ET (06:00 GMT)

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