URU Metals Limited Director/PDMR transactions (8403P)
November 22 2016 - 6:15AM
UK Regulatory
TIDMURU
RNS Number : 8403P
URU Metals Limited
22 November 2016
URU Metals Limited
("URU Metals" or "the Company")
Director/PDMR transactions
Following the announcement released earlier today in relation to
the placing of 160,000,00 new Ordinary Shares (the "Placing
Shares") by the Company (the "Placing"), the Company is pleased to
announce that David Subotic and John Zorbas have now each
subscribed for 12.5 million new Ordinary Shares (the "Subscription
Shares"), on the same terms as the Placing.
As a result, the Company has now conditionally raised GBP740,000
by the issue of 185,000,000 new Ordinary Shares. The Placing Shares
and the Subscription Shares (together the "New Shares") represent
36 per cent. of the enlarged issued share capital of the
Company.
Application for Admission
Application will be made for the New Shares, which will rank
pari passu with the Company's existing Ordinary Shares, to be
admitted to trading on AIM ("Admission"). It is anticipated that
Admission will be effective on 6 December 2016.
Following Admission, the interests of the Directors in the
Company's enlarged share capital will be as follows:
Subscription Total shareholding %
Shares
David Subotic 12,500,000 18,330,000 3.6
John Zorbas 12,500,000 24,200,000 4.7
The subscription for a total of 25 million Subscription Shares
by David Subotic and John Zorbas (the "Directors' Subscriptions")
is a related party transaction under the AIM Rules for Companies.
The Independent Director not participating in the Placing, Mr Jay
Vieira, having consulted with the Company's nominated adviser,
Northland Capital Partners Limited, considers that the terms of the
Directors' Subscriptions are fair and reasonable so far as the
shareholders of the Company are concerned.
Total voting rights
Following Admission, the Company's share capital will consist of
513,960,379 Ordinary Shares with voting rights. The Company does
not hold any Ordinary Shares in treasury. Therefore, the total
number of voting rights in the Company is 513,960,379. 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.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
END
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer) +1 416 504 3978
Northland Capital Partners Limited
(Nominated Adviser and Joint Broker)
Edward Hutton / Matthew Johnson + 44 (0) 203 861 6625
Beaufort Securities
Limited
(Joint Broker)
Jonathan Belliss + 44 (0) 207 382 8300
SVS Securities Plc
(Joint Broker)
Tom Curran +44 (0) 203 700 0093
This information is provided by RNS
The company news service from the London Stock Exchange
END
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