Source - RNS
RNS Number : 9023G
Strategic Minerals PLC
01 June 2017
 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

1 June 2017

 

Strategic Minerals plc

("Strategic Minerals" or the "Company" or "SML")

 

Issue of Equity and PDMR Dealing

 

Strategic Minerals PLC (AIM: SML; USOTC; SMCDY), the diversified mineral production and development company, announces that the Company has issued 19,000,000 new ordinary shares of 0.1p each in the Company ("New Ordinary Shares") to shareholders in Rarus Limited ("Rarus"), pursuant to its agreement to acquire the balance of Rarus' shares in Central Australian Rare Earths Pty Ltd, as announced on 5 May 2017. 

 

Application has been made for the New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission").  Admission is expected to occur on or around 6 June 2017.

 

PDMR Dealing

Alan Broome, Chairman of SML and a non-executive director of Rarus, has today been issued with 147,319 ordinary shares of 0.1 p each ("Ordinary Shares") by Rarus, in lieu of consideration due to Alan Broome in his capacity as a director of Rarus.  Further details of this share dealing are set out below.

 

Total voting rights

Following the issue of the New Ordinary Shares, the total issued share capital of the Company consists of 1,245,825,560 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 1,245,825,560 and this figure 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 Disclosure and Transparency Rules.

 

Market Abuse Regulation (MAR) Disclosure

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:

Alan Broome

2.     

Reason for the notification

a)

Position/status:

Non-Executive Chairman

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Strategic Minerals plc

b)

LEI:

213800DICA5NPVOJT776

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:

Identification code:

Ordinary shares of 0.1p each

 

GB00B4W8PD74

b)

Nature of the transaction:

Consideration in lieu of fees

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

2.75 pence

147,319



d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

2.75 pence

147,319



 

e)

Date of the transaction:

1 June 2017

10:00 am GMT

f)

Place of the transaction:

Outside a trading venue

 

 

For further information, please contact:

 

Strategic Minerals plc                                                                                                                 +61 (0) 414 727 965

John Peters

Managing Director

www.strategicminerals.net

 

Follow Strategic Minerals on:
Vox Markets: 
www.voxmarkets.co.uk/company/SML

Twitter:           @SML_Minerals                                                           
LinkedIn:        
www.linkedin.com/company/strategic-minerals-plc

Facebook:       https://www.facebook.com/search/top/?q=strategic%20minerals%20plc

 

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

Ewan Leggat

 

   +44 (0)20 3470 0470

Optiva Securities Limited

Joint Broker

Graeme Dickson

 

  +44 (0)20 3411 1880

Yellow Jersey PR

Financial PR

Alistair de Kare-Silver

Felicity Winkles

Joe Burgess

 

  +44 (0)7825 916 715 

 

Notes to Editors

 

Strategic Minerals Plc is an AIM-quoted, diversified mineral development and production company with projects in the United States of America, the UK and Australia. The Company is focused on acquiring and developing cash generative, high quality projects which meet local market demand for commodities and utilising this cash flow to undertake value added exploration. 

 

In September 2011, Strategic Minerals purchased its first cash generating asset; the Cobre magnetite tailings dam project in New Mexico, USA which it brought into production in 2012 and which continues to provide a revenue stream for the Company. The portfolio was expanded in January 2016 with the acquisition of shares in Central Australian Rare Earths Pty Ltd, which holds tenements in Western Australia and the Northern Territory that are prospective for cobalt, gold, nickel sulphides and rare earths. The Company has since acquired all shares in Central Australian Rare Earths Pty Ltd. In May 2016, an additional exploration asset was acquired when the company entered into an agreement with New Age Exploration Limited to acquire up to 50% of the Redmoor Tin/Tungsten project in Cornwall, UK. This 50% acquisition has now been completed and drilling at the project has commenced.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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