TIDMEDR
RNS Number : 3003M
Egdon Resources PLC
13 September 2023
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY
JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE
THIS ANNOUNCEMENT.
RECOMMED ACQUISITION OF
EGDON RESOURCES PLC ("Company")
by
PETRICHOR PARTNERS, LP ("Petrichor")
Rule 2.9 Amended Announcement - Relevant Securities in Issue
Update
The Company announced that, following the Court sanctioning the
Scheme relating to the recommended cash offer by Petrichor today,
an application was made for admission to trading on AIM
("Admission") of 21,134,000 new ordinary shares of GBP0.01 each in
the Company ("New Ordinary Shares"). The New Ordinary Shares will
be issued pursuant to the exercise of Options and Warrants in
accordance with proposals made to the holders of those Options and
Warrants pursuant to Rule 15 of the Code, as described in the
scheme document published in relation to the Acquisition (the
"Scheme Document") and it was expected that the New Ordinary Shares
were to be admitted to trading at 8am on 13 September 2023.
For administrative reasons, it is now expected that the
Admission will take place at 8am on 14 September 2023. An amended
timetable for the Acquisition is set out in this announcement.
Amended notifications by the PDMRs of the Company in accordance
with the UK Market Abuse Regulation are set out in the Appendix to
this announcement.
In accordance with Rule 2.9 of the City Code on Takeovers and
Mergers, the Company announces that, following Admission, it will
have 565,367,031 ordinary shares in issue.
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 Guidance and Transparency Rules.
There are still 26,524,000 outstanding Warrants for the issue of
ordinary shares. These are held by Petrichor and will not be
exercised ahead of the Scheme Effective Date.
Amended Scheme Timetable
The expected amended timetable is set out below:
Scheme Record Time 6.00pm on 14 September
2023
Last day of dealings in, and for registration 14 September 2023
of transfers of, Egdon Shares
-----------------------
Effective Date of the Scheme 15 September 2023
-----------------------
Suspension of Dealings 7:30am on 15 September
2023
-----------------------
Last Date for Payment of Consideration 29 September 2023
to Scheme Shareholders
-----------------------
The International Securities Identification Number (ISIN) of
Egdon's ordinary shares is GB00B28YML29.
Capitalised terms used in this announcement, unless otherwise
defined, have the same meanings as set out in the Scheme Document,
a copy of which is available, subject to certain restrictions
relating to persons in Restricted Jurisdictions, on the Company's
website.
For further information, please contact:
Egdon Resources Plc Tel +44 1256 702292
Mark Abbott
VSA Capital Limited Tel +44 203 005
Financial Adviser, Joint Broker and Rule 3 5000
Adviser to Egdon
Andrew Raca and Matthew Harker (Corporate
Finance)
--------------------
WH Ireland Limited Tel +44 207 220
Nominated Adviser and Joint Broker to Egdon 1666
Antonio Bossi and James Bavister
--------------------
Appendix
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 Mark Abbott
--- --------------------------------------------------------- ------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--- --------------------------------------------------------- ------------------------------------------------------
b) Initial notification /Amendment Initial Notification
--- --------------------------------------------------------- ------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Egdon Resources Plc
--- --------------------------------------------------------- ------------------------------------------------------
b) LEI 213800WWGH4S9GYSPL77
--- --------------------------------------------------------- ------------------------------------------------------
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 Ordinary Shares
instrument
Identification code GB00B28YML29
--- --------------------------------------------------------- ------------------------------------------------------
b) Nature of the transaction Exercise of Options and Warrants
--- --------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Date Security Exercise Volume(s)
Price(s)
14 September
2023 Option GBP0.0225 4,444,444
---------- ----------- ----------
14 September
2023 Warrant GBP0.0250 800,000
---------- ----------- ----------
--- --------------------------------------------------------- ------------------------------------------------------
d) Aggregated information:
Aggregated volume 5,244,444 Ordinary Shares
Aggregated total GBP119,999.99
Aggregated price GBP0.0229
--- --------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 14 September 2023
--- --------------------------------------------------------- ------------------------------------------------------
f) Place of the transaction London Stock Exchange
--- --------------------------------------------------------- ------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
-----------------------------------------------------------------------------------------------------------------
a) Name Martin Durham
--- --------------------------------------------------------- ------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status Technical Director
--- --------------------------------------------------------- ------------------------------------------------------
b) Initial notification /Amendment Initial Notification
--- --------------------------------------------------------- ------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Egdon Resources Plc
--- --------------------------------------------------------- ------------------------------------------------------
b) LEI 213800WWGH4S9GYSPL77
--- --------------------------------------------------------- ------------------------------------------------------
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 Ordinary Shares
instrument
Identification code GB00B28YML29
--- --------------------------------------------------------- ------------------------------------------------------
b) Nature of the transaction Exercise of Options and Warrants
--- --------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Date Security Exercise Volume(s)
Price(s)
14 September
2023 Option GBP0.0225 3,555,556
---------- ----------- ----------
14 September
2023 Warrant GBP0.0250 100,000
---------- ----------- ----------
--- --------------------------------------------------------- ------------------------------------------------------
d) Aggregated information:
Aggregated volume 3,655,556 Ordinary Shares
Aggregated total GBP82,500.01
Aggregated price GBP0.0226
--- --------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 14 September 2023
--- --------------------------------------------------------- ------------------------------------------------------
f) Place of the transaction London Stock Exchange
--- --------------------------------------------------------- ------------------------------------------------------
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END
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