TIDMJAY
RNS Number : 6457H
Bluejay Mining PLC
31 July 2023
31 July 2023
Bluejay Mining plc ('Bluejay' or the 'Company')
Director Equity Subscriptions
Bluejay Mining plc, the AIM, FSE-listed and OTCQB traded
exploration and development company with projects in Greenland and
Finland, is pleased to announce that certain of the Directors of
the Company have subscribed for a total of 1,714,285 new ordinary
shares of 0.01 pence each in the Company ("Subscription Shares") at
a price of 1.75 pence per share ("Subscription Price") to raise
gross proceeds of GBP30,000 for Bluejay (altogether the
"Subscription").
As previously announced on 28 June 2023, Directors and senior
management were prohibited from dealing in the shares of the
Company at the time of the equity placing in June 2023, as the
Company was in a close period pending the release of the audited
accounts for the year ended 31 December 2023. The Subscription has
been executed at the same price as the placing price in June 2023
of 1.75 pence per share, a premium of 28% to the mid-market closing
price of the Company's ordinary shares on 28 July 2023.
Shareholdings of Directors
Details for the Directors participating in the Subscription are
as follows:
Director Resulting % interest
Existing Subscription interest in the issued
interest Shares to in issued Ordinary
in Ordinary be acquired Ordinary Share capital
Shares Share capital
Robert Edwards 0 285,714 285,714 0.03
-------------- --------------- --------------- ---------------
Michael Hutchinson 142,857 1,142,857 1,285,714 0.11
-------------- --------------- --------------- ---------------
Peter Waugh 211,652 285,714 497,366 0.04
-------------- --------------- --------------- ---------------
Further details of the Subscriptions by Directors are set out at
the end of this notification. Director of the Company, Bo Møller
Stensgaard, acted as Director independent of the Subscription for
AIM Rule 13 purposes and was consequently restrained from
participation in the Subscription. His shareholding in the Company
is unchanged.
Related Party Transaction
The participation of Robert Edwards, Michael Hutchinson and
Peter Waugh, Directors of the Company, in the Subscription is
considered a related party transaction for the purposes of AIM Rule
13 of the AIM Rules for Companies. The Director independent of the
transaction, being Bo Møller Stensgaard, having consulted with SP
Angel Corporate Finance LLP, the Company's Nominated Adviser,
considers that the participation by the aforementioned Directors in
the Subscription is fair and reasonable in so far as Bluejay's
shareholders are concerned.
Admission and Total Voting Rights
Application has been made for the 1,714,285 Subscription Shares
to be admitted to trading on the AIM market of the London Stock
Exchange ("Admission"). It is expected that Admission will occur on
or around 4 August 2023. The Subscription Shares will be credited
as fully paid and rank pari passu with existing ordinary shares of
0.01 pence each in the capital of the Company ("Ordinary
Shares").
Following the issue of the Subscription Shares, the total issued
share capital of the Company will consist of 1,135,885,079 Ordinary
Shares. The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of voting rights in the Company is
1,135,885,079 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
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018.
For further information please visit
http://www.bluejaymining.com or contact:
Kevin Sheil Bluejay Mining plc enquiry@bluejaymining.com
SP Angel Corporate Finance
Ewan Leggat LLP
/ (Bluejay Mining Nominated
Adam Cowl Adviser and Broker) +44 (0) 20 3470 0470
--------------------------------- --------------------------
Tim Blythe
/ BlytheRay
Megan Ray (Bluejay Mining Press Contact) +44 (0) 20 7138 3205
--------------------------------- --------------------------
About Bluejay Mining Plc
Bluejay is listed on the London AIM market and Frankfurt Stock
Exchange and its shares also trade on the OTCQB Market in the US.
The Company holds multiple exploration and development projects in
Greenland and Finland, providing its shareholders both portfolio
and commodity diversification in high quality jurisdictions.
Bluejay's Dundas Ilmenite Project in northwest Greenland is
fully permitted and undergoing further optimisation studies. The
Company has agreed a Master Distribution Agreement with a major
Asian conglomerate for up-to 340k tonnes per annum ('tpa') of its
designed 440ktpa annual output.
Bluejay, through its wholly owned subsidiary Disko Exploration
Ltd., has signed a definitive Joint Venture Agreement with KoBold
Metals to guide exploration for new deposits rich in the critical
materials required for the green energy transition and electric
vehicles (The Disko-Nuussuaq nickel-copper-cobalt-PGE Project).
Disko Exploration Ltd holds two additional projects in Greenland -
the 692 sq km Kangerluarsuk zinc-lead- silver Project, where
historical work has recovered grades of up to 45.4% zinc, 12.4%
lead and 596 g/t silver; and the 920 sq km Thunderstone Project
which has the potential to host base metal and gold deposits.
In Finland, Bluejay currently holds three large scale
multi-metal projects through its wholly owned subsidiary FinnAust
Mining Finland Oy. The Company has identified multiple drill ready
targets at the Enonkoski nickel-copper-cobalt Project in East
Finland. Bluejay's drill ready Hammaslahti copper-zinc-gold-silver
Project hosts high-grade VMS mineralisation and extensions of
historical ore lodes have been proven. The drill ready Outokumpu
copper-nickel-cobalt-zinc-gold-silver Project is located in a
prolific geological belt that hosts several high-grade former
mines. Bluejay has also signed a conditional agreement for a
partial divestment in a fourth Finnish project.
Notification of transaction by Person Discharging Managerial
Responsibilities ("PDMR")
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name 1. Robert Edwards
2. Michael Hutchinson
3. Peter Waugh
------------------------------- ---------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status 1. Chairman
2. Non-executive Director
3. 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 Bluejay Mining plc
------------------------------- ---------------------------------------
b) LEI 213800E9AEFEHFLOVJ19
------------------------------- ---------------------------------------
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 Ordinary Shares of 0.01 pence each
instrument, type of
instrument
GB00BLFJ1613
Identification code
------------------------------- ---------------------------------------
b) Nature of the transaction Issue of 1,714,285 new ordinary shares
of 0.01 pence for cash
------------------------------- ---------------------------------------
c) Price(s) and volume(s) 1. Price: 1.75 pence
Volume: 285,714
2. Price: 1.75pence
Volume: 1,142,857
3. Price: 1.75 pence
Volume: 285,714
------------------------------- ---------------------------------------
d) Aggregated information Price: 1.75 pence
Aggregated volume: 1,714,285
------------------------------- ---------------------------------------
e) Date of the transaction 2023-07-31
------------------------------- ---------------------------------------
f) Place of the transaction Outside a Trading Venue
------------------------------- ---------------------------------------
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END
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