TIDMPYX
RNS Number : 1574C
PYX Resources Limited
07 October 2022
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BEING MADE, AND HAS NOT BEEN APPROVED, BY AN AUTHORISED PERSON FOR
THE PURPOSES OF SECTION 21 OF THE UK FINANCIAL SERVICES AND MARKETS
ACT 2000.
PYX Resources Limited / EPIC: PYX / Market: Standard / Sector:
Mining
7 October 2022
PYX Resources Limited
Issue of Shares to L1 Capital Global Opportunities Master Fund
and Total Voting Rights
PYX Resources Ltd ("PYX" or the "Company") (NSX: PYX | LSE:
PYX), the second largest publicly listed zircon producing mining
company globally by zircon resources, advises that an Application
for Quotation of Additional Securities has been issued on the
NSX.
In March 2022, PYX received an initial investment of US$4.5
million from a US Institutional Investor, L1 Capital Global
Opportunities Master Fund ("Investor"), for US$5 million worth of
PYX shares ("Subscription Amount") via a share placement ("Share
Placement"), as announced on 11 March 2022.
Since the initial investment PYX has received two Subscription
Notices from the Investor in accordance with the Share Placement.
The first subscription notice, received in July 2022, was for
US$550,000. For details of the subscription notice and the
associated share issue, see the Company's announcement dated 7 July
2022.
PYX has now received a second subscription notice from the
Investor totalling US$500k in shares. As such, the Company has
issued and allotted 1,061,693 ordinary shares of no par value. The
price of the shares in connection with the second subscription
notice has been calculated at 95% of the average of 3 daily VWAPs
over the 15 trading days prior to the share issuance date, as per
the Share Subscription Agreement.
Following the second subscription notice, there is US$3.95
million of available Subscription Amount remaining.
The funds enable PYX to accelerate its previously announced
plans to grow its production volume at its Mandiri deposit and to
start planning operations at the Tisma deposit. Funds will be used
for capital expenditure and working capital purposes.
A full PDF version of the Application for Quotation of
Additional Securities is available from the NSX website (
https://pyxresources.com/investors-nsx-announcements/ )
Application will be made for the new Ordinary Shares to be
admitted to the standard segment of the Official List and to
trading on the Main Market of the London Stock Exchange, and
admission is expected to occur at 8:00 a.m. on or around 12 October
2022. The new Ordinary Shares will rank pari passu with the
existing Ordinary Shares of the Company.
Following Admission, the Company's issued share capital will
consist of 438,618,177 Ordinary Shares, no Ordinary Shares are held
in treasury. Therefore, the total number of Ordinary Shares with
voting rights in the Company will be 438,618,177.
The above figure of 438,618,177 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 share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
** ENDS ***
This announcement is authorised for release by Oliver B. Hasler,
Chairman and Chief Executive Officer.
For more information:
PYX Resources Limited T: +852 3519 2860
Oliver B. Hasler, Chairman and Chief Executive E: ir@pyxresources.com
Officer
WH Ireland Limited (Financial Adviser T: +44 (0)20 7220 1666
and Joint Broker)
Harry Ansell / Katy Mitchell / Megan Liddell
St Brides Partners Ltd (Financial PR) E: pyx@stbridespartners.co.uk
Ana Ribeiro/ Isabel de Salis / Isabelle
Morris
About PYX Resources
PYX Resources Limited (NSX: PYX | LSE: PYX) is a producer of
premium zircon dual listed on the National Stock Exchange of
Australia and on the Main Market of the London Stock Exchange.
PYX's key deposits, Mandiri and Tisma, are large-scale,
near-surface open pit deposits both located in the alluvium-rich
region of Central Kalimantan, Indonesia. PYX, whose Mandiri deposit
has been in production since 2015, is the 2nd largest publicly
traded producing mineral sands company by zircon resources
globally. Determined to mine responsibly and invest in the wider
communities where we operate, PYX Resources is committed to fully
develop its Mandiri and Tisma deposits, with the vision to
consolidate the mineral sands resources in Kalimantan and explore
and acquire mineral sands assets in Asia and beyond.
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END
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(END) Dow Jones Newswires
October 07, 2022 03:29 ET (07:29 GMT)
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