15 November 2021
W Resources Plc
("W" or the "Company")
Placing to Raise
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining Company with assets in
Following the award of the mining licence at the Régua tungsten mine in
The Company will also use part of the funds at the La Parrilla mine in
Symmall Pty Limited, as trustee of the Masterman Superannuation Fund of which Mr Michael Masterman (Chairman of the Company) is both a beneficiary and trustee, and Mr James Argalas, a Non-Executive director of the Company are investing
Related Party Transactions
The participations in the Placing by Symmall Pty Limited and Mr James Argalas fall to be treated as a related party transactions under Rule 13 of the AIM Rules for Companies. The independent W directors, being the W directors other than Mr Michael Masterman and Mr James Argalas consider, having consulted with the Company's nominated adviser Grant Thornton
Settlement and Dealings
Application has been made for the 12,500,000 Ordinary Shares being issued in connection with the Placing to be admitted to trading on AIM ("Admission"), with Admission expected to occur on or around 29 November 2021.
Total Voting Rights
Following Admission, the Company's enlarged issued share capital will comprise 133,058,257 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 133,058,257 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 Disclosure Guidance and Transparency Rules.
Michael Masterman, Chairman of W Resources, commented: "We are delighted to have recently been awarded two licences from the Directorate General for Energy and Geology in
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "
Enquiries:
W Resources Plc Paul Hailes, CFO |
Grant Thornton Colin Aaronson / Harrison Clarke / Lukas Girzadas T: +44 (0) 20 7383 5100 |
Broker Alternative Resource Capital / Shard Capital Alex Wood T:+44 (0) 20 7186 9004 Damon Heath T:+44 (0) 20 7186 9952 |
Alma PR Justine James T: +44 (0) 20 3405 0205 M: +44 (0) 7525 324431 |
Notifications of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them
1
|
Details of the person discharging managerial responsibilities / person closely associated |
||||
a) |
Name |
Michael Masterman (Legal person: Symmall Pty Ltd) |
|||
2 |
Reason for the notification |
||||
a) |
Position / status |
Chairman |
|||
b) |
Initial notification / Amendment |
Initial notification |
|||
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||
a) |
Name |
W Resources Plc |
|||
b) |
LEI |
213800H66EK87TAOS666 |
|||
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 |
Ordinary shares of |
|||
Identification code |
GB00BKQN5R41 |
||||
b) |
Nature of the transaction |
Subscription for shares |
|||
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
1,666,666 |
|
|
|
|
|
|
|
|
d) |
Aggregated information |
N/A Single transaction |
|||
|
|
||||
- Price |
|
||||
e) |
Date of the transaction |
15 November 2021 |
|||
f) |
Place of the transaction |
Outside of a trading venue |
1
|
Details of the person discharging managerial responsibilities / person closely associated |
||||
a) |
Name |
Michael Masterman (Legal person: Symmall Pty Ltd) |
|||
2 |
Reason for the notification |
||||
a) |
Position / status |
Chairman |
|||
b) |
Initial notification / Amendment |
Initial notification |
|||
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||
a) |
Name |
W Resources Plc |
|||
b) |
LEI |
213800H66EK87TAOS666 |
|||
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 |
Warrants to subscribe for ordinary shares of |
|||
Identification code |
For ordinary shares: GB00BKQN5R41 |
||||
b) |
Nature of the transaction |
Issue of warrants pursuant to a subscription for shares |
|||
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
Nil |
1,666,666 |
|
|
|
|
|
|
|
|
d) |
Aggregated information |
N/A Single transaction |
|||
|
|
||||
- Price |
|
||||
e) |
Date of the transaction |
15 November 2021 |
|||
f) |
Place of the transaction |
Outside of a trading venue |
1
|
Details of the person discharging managerial responsibilities / person closely associated |
||||
a) |
Name |
James Argalas |
|||
2 |
Reason for the notification |
||||
a) |
Position / status |
Non-Executive Director |
|||
b) |
Initial notification / Amendment |
Initial notification |
|||
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||
a) |
Name |
W Resources Plc |
|||
b) |
LEI |
213800H66EK87TAOS666 |
|||
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 |
Ordinary shares of |
|||
Identification code |
GB00BKQN5R41 |
||||
b) |
Nature of the transaction |
Subscription for shares |
|||
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
833,333 |
|
|
|
|
|
|
|
|
d) |
Aggregated information |
N/A Single transaction |
|||
|
|
||||
- Price |
|
||||
e) |
Date of the transaction |
15 November 2021 |
|||
f) |
Place of the transaction |
Outside of a trading venue |
1
|
Details of the person discharging managerial responsibilities / person closely associated |
||||
a) |
Name |
James Argalas |
|||
2 |
Reason for the notification |
||||
a) |
Position / status |
Non-Executive Director |
|||
b) |
Initial notification / Amendment |
Initial notification |
|||
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||
a) |
Name |
W Resources Plc |
|||
b) |
LEI |
213800H66EK87TAOS666 |
|||
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 |
Warrants to subscribe for ordinary shares of |
|||
Identification code |
For ordinary shares: GB00BKQN5R41 |
||||
b) |
Nature of the transaction |
Issue of warrants pursuant to a subscription for shares |
|||
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
Nil |
833,333 |
|
|
|
|
|
|
|
|
d) |
Aggregated information |
N/A Single transaction |
|||
|
|
||||
- Price |
|
||||
e) |
Date of the transaction |
15 November 2021 |
|||
f) |
Place of the transaction |
Outside of a trading venue |
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