29 November 2021
Galileo Resources Plc
("Galileo" or the "Company")
Issue of Equity & TVR
The Board of Galileo (AIM: GLR) confirms that, the Company has issued a total of 18,591,363 shares, which includes the 17,358,363 shares ("Fee Shares") which was approved by shareholders at the last AGM, to settle contractually accrued but unpaid fees due to directors and consultants in respect of the period from October 2018 to March 2021, amounting to £118,750 (the "Accrued Fees") as well as 1,233,000 shares ("Consultant Fee Shares") issued at an issue price of 2.68p per share, to a consultant of the Company in relation to fees amounting to £22,030.
The Accrued Fees includes accrued fees owed to directors totalling £106,250 (£65,000 owed to Mr Bird and £41,250 to Mr Wollenberg). Accordingly Mr Bird has been issued 10,570,862 Ordinary Shares and Mr Wollenberg 5,854,170 Ordinary Shares, following which Mr Bird will be interested in a total of 78,605,862 Ordinary Shares representing 7.22% of the Company's enlarged issued share capital and Mr Wollenberg will be interested in a total of 13,575,511 Ordinary Shares representing 1.25% of the Company's enlarged issued share capital.
Application will be made for admission of the Fee Shares and Consultant Fee Shares to trading on AIM ("Admission"), with Admission expected to occur on or around 3 December 2021. Following the issue of the Fee Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 1,089,134,344 ordinary shares in issue, all of which have voting rights. Shareholders in the Company may use this figure as the denominator for the calculation, by which they would determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
You can also follow Galileo on Twitter: @GalileoResource
For further information, please contact: Galileo Resources PLC
| Colin Bird, Chairman Edward Slowey, Executive Director | Tel +44 (0) 20 7581 4477 Tel +353 (1) 601 4466 |
| Beaumont Cornish Limited - Nomad Roland Cornish/James Biddle | Tel +44 (0) 20 7628 3396 |
| Novum Securities Limited - Joint Broker Colin Rowbury /Jon Belliss | +44 (0) 20 7399 9400 |
| Shard Capital Partners LLP - Joint Broker Damon Heath | Tel +44 (0) 20 7186 9952 |
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Colin Bird
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Richard Wollenberg
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