TIDMABM
RNS Number : 0267Z
African Battery Metals PLC
28 August 2018
African Battery Metals plc / EPIC: ABM / Market: AIM
28 August 2018
African Battery Metals plc ("ABM" or the "Company")
Result of General Meeting
Director Dealing
Appointment of Director, Issue of Options & Confirmation of
Directors' Shareholdings
African Battery Metals plc, the AIM quoted African focused
exploration company, announces that at its General Meeting held
earlier today all Resolutions were duly passed by the Company's
shareholders.
Following the passing of the Resolutions, the Directors
anticipate that the admission to trading of the 64,555,364 Capital
Reorganisation Shares, the 63,690,447 Consideration Shares, the
6,666,666 Placing Shares and the 1,666,666 Settlement Shares will
occur at 8.00am on Wednesday 29 August 2018 ("Admission").
Accordingly, on Admission, the enlarged issued share capital of
the Company will be 136,579,143 Ordinary Shares of 0.1 pence each.
The above figure of 136,579,143 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 ABM under the FCA's
Disclosure and Transparency Rules.
As a result of the issue of the 1,666,666 settlement shares to
Roger Murphy and Matthew Wood on Admission in respect of deferred
salary their resulting shareholdings will be as follows:
Current Current holding Settlement Total number % of Enlarged
Director holding of Shares to of New Ordinary Share Capital
of Existing Ordinary be issued Shares on held on
Existing Shares (as on Admission Admission Admission
Ordinary adjusted by
Shares the Capital
reorganisation)
Roger
Murphy 88,275,927* 882,759 833,333 1,716,092 1.3%
------------ ------------------- -------------- ----------------- ---------------
Matthew
Wood 41,763,725 417,637 833,333 1,250,970 0.9%
------------ ------------------- -------------- ----------------- ---------------
*This is the correct total holding of Ordinary Shares as at 27
August 2018. Please note the shareholding of Roger Murphy has
previously been misstated due to an administrative error.
Appointment of Non-Executive Director
The Company is pleased to announce the appointment of Mr Scott
Richardson Brown to the board of the Company with immediate effect
as Non-Executive Director. Additionally, as detailed in the
circular sent to shareholders on 08 August 2018, it is proposed
that a non-executive director will be appointed to the Board as a
representative of RRCC as a shareholder in the Company. A further
announcement regarding such appointment will be made in due
course.
Mr Richardson Brown is a Fellow of the Institute of Chartered
Accountants in England and Wales. He began his career at Coopers
& Lybrand (later PricewaterhouseCoopers) in the banking and
capital markets division, he later became a partner in the
corporate broking/finance division of Oriel Securities Limited
covering a range of sectors. Since leaving Oriel Securities
Limited, Mr Richardson Brown has held a number of directorships of
AIM-quoted companies operating within the natural resources
sector.
Issue of options
In line with the Company's intention to preserve its cash
resources, Mr Richardson Brown has today been granted unapproved
options over 1,000,000 ordinary shares of 0.1 pence each in the
Company with an exercise price of 5 pence per ordinary share
("Options"). Each option is exercisable for a period of five years
from the date of grant, with 500,000 of the Options vesting on the
first-year anniversary of their grant and the balance of 500,000
Options vesting on the second anniversary of their grant. The
Options represent approximately 0.7% of the Company's issued
ordinary share capital. Other than the Options, Mr Richardson Brown
does not hold any interest share capital of the Company.
As Scott Richardson Brown is a director of the Company, the
issue of the Options to Scott Richardson Brown constitutes a
related party transaction pursuant to AIM Rule 13. The directors of
the Company, other than Scott Richardson Brown, consider, having
consulted with the Company's Nominated Adviser, SP Angel Corporate
Finance LLP, that the terms of the related party transaction are
fair and reasonable insofar as the shareholders of the Company are
concerned.
Further information in relation to the appointment of Mr
Richardson Brown pursuant to paragraph (g) of Schedule Two of the
AIM Rules for Companies appears below.
Scott James Richardson Brown (aged 42)
Current Directorships / Partnerships Past Directorships / Partnerships
(last 5 years)
Genius Concepts Limited Newmogul Plc
Jersey E & P Ltd Moguldom Limited
Jersey Exploration Ltd
Jersey North Sea Holdings Ltd
Jersey Oil and Gas plc
Jersey Oil Ltd
Pathfinder Minerals Plc
Sodington Hall Limited
Sodington Limited
There is no other information that is required to be disclosed
pursuant to paragraph (g) of Schedule Two of the AIM Rules for
Companies.
PDMR Disclosure
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail on the director's share dealing.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name
1. Roger Murphy
2. Matthew Wood
------------------------------------- --------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------
a) Position/status
1. Chief Executive Director
2. Finance Director
------------------------------------- --------------------------------------------------
b) Initial notification
/Amendment Initial Notification
------------------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a) Name
African Battery Metals Plc
------------------------------------- --------------------------------------------------
b) LEI
213800VNXOUPHTX53686
------------------------------------- --------------------------------------------------
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 0.1p each
instrument, type of
instrument
Identification code ISIN: GB00BYWJZ743
b) Nature of the transaction
1. Issue of shares in respect of deferred
salary
2. Issue of shares in respect of deferred
salary
------------------------------------- --------------------------------------------------
c) Price(s) and volume(s)
------------------ --------------------
Price(s) Volume(s)
------------------ --------------------
1 3 pence 833,333
------------------ --------------------
2 3 pence 833,333
------------------ --------------------
d) Aggregated information
- Aggregated volume 1,666,666
- Price 3 pence
e) Date of the transaction 28 August 2018
------------------------------------- --------------------------------------------------
f) Place of the transaction London
------------------------------------- --------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name
Scott Richardson Brown
--------------------------------------- ------------------------------------------
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
African Battery Metals Plc
--------------------------------------- ------------------------------------------
b) LEI
213800VNXOUPHTX53686
--------------------------------------- ------------------------------------------
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 0.1p each
instrument, type of
instrument
Identification code ISIN: GB00BYWJZ743
b) Nature of the transaction
Issue of options
--------------------------------------- ------------------------------------------
c) Price(s) and volume(s)
------------------- ------------------
Price(s) Volume(s)
------------------- ------------------
5p 1,000,000
------------------- ------------------
d) Aggregated information
- Aggregated volume 1,000,000
- Price 5p
e) Date of the transaction 28 August 2018
--------------------------------------- ------------------------------------------
f) Place of the transaction London
--------------------------------------- ------------------------------------------
Capitalised terms used in this announcement shall have the same
meaning as set out in the Circular issued by the Company dated 08
August 2018.
**Ends**
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information please visit https://www.abmplc.com/ or
contact:
African Battery Metals plc
Roger Murphy (CEO) +44 (0) 20 7583 8304
SP Angel Corporate Finance (Nomad and Broker)
Ewan Leggat +44 (0) 20 3470 0470
St Brides Partners Ltd (Public Relations)
Isabel de Salis/Juliet Earl +44 (0) 20 7236 1177
Madini Minerals (Financial and Technical Adviser)
Iain Macpherson / Ilja Graulich +27 (0) 11 469 0629
Notes to Editors:
ABM is an AIM listed, Africa focused, resource company exploring
for the key metals used in next generation batteries that fuel the
new electric vehicle revolution. The Board and team of advisors,
who have proven expertise in African exploration, mining and
project generation, have identified an opportunity to utilise the
Company's position to become a leader in the London market for
investors to gain exposure to the battery metal commodity suite,
particularly cobalt, lithium, copper and nickel.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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