TIDMTHR
RNS Number : 9650A
Thor Mining PLC
02 October 2020
2 October 2020
THOR MINING PLC
NOTICE OF GENERAL MEETING
and
ISSUE OF EQUITY
Thor Mining PLC ("Thor" or "the Company") (AIM, ASX: THR) has
today posted the notice of the General Meeting to be held at the
office of Thor Mining, 58 Galway Avenue, Marleston, South Australia
on 20 October 2020 at 5.00 p.m. (Australian Central Daylight Time)
(the "General Meeting").
The difficulties with air transport, the need for quarantine and
allied matters means that the general meeting will be held in
Australia with only two directors or senior employees present each
of whom is either a shareholder, or a proxy, or a corporate
representative appointed by a shareholder. No other shareholder,
proxy or corporate representative should attend the general meeting
in person. The attendance by a shareholder (other than the ones
specifically required to form the quorum for that meeting) is not
essential.
All resolutions of the general meeting will be decided on a
poll. Shareholders will still be able to vote in advance of the
general meeting by proxy. To ensure that their vote counts,
shareholders should only appoint the chairman of the general
meeting to act as their proxy.
Should changes with regard to the impact of Covid-19 be
announced by either government before the general meeting, the
directors will consider those changes and the impact on the
proposed general meeting. Any proposed changes will be announced on
the website.
The purpose of the General Meeting is to consider, and if
thought fit, pass the resolutions contained in the notice of
meeting.
Resolutions 1 and 2 provide the directors with the appropriate
authorities, respectively, to issue shares and dis-apply
pre-emption rights for existing shareholders. Resolution 1 is a
requirement under English company law where the Company wishes to
allot new securities; resolution 2 is a requirement under English
company law where the Company wishes to do so for cash without
first offering those securities on a pro rata basis to existing
shareholders.
Resolutions 3 to 7 inclusive relate to a GBP1,065,000 placement,
announced on 15 September 2020. Each resolution is detailed further
below:
-- Resolution 3 seeks shareholder approval to ratify, under ASX
Listing Rule 7.4, the issue of 123,750,000 ordinary shares and
61,875,000 unlisted warrants (Tranche 1 Placement Securities) that
were previously issued within the Company's placement capacity
under ASX Listing Rule 7.1, on 28 September 2020. The ratification
under ASX Listing Rule 7.4 has the effect of refreshing the
Company's placement capacity under ASX Listing Rule 7.1.
-- Resolution 4 seeks shareholder approval, for the purposes of
ASX Listing Rule 7.1, to the issue and allotment of 25,500,000
Ordinary Shares and 12,750,000 unlisted warrants. The Ordinary
Shares and warrants are proposed to be issued on the same terms as
the Tranche 1 Placement Securities (the subject matter of
Resolution 3).
-- Resolution 5 seeks shareholder approval, for the purposes of
ASX Listing Rule 7.1, to the issue and allotment of 25,000,000
Ordinary Shares and 12,500,000 unlisted warrants to existing
Shareholder Metal Tiger PLC. The Ordinary Shares and warrants are
proposed to be issued on the same terms as the Tranche 1 Placement
Securities (the subject matter of Resolution 3).
-- Resolution 6 seeks shareholder approval, for the purposes of
ASX Listing Rule 10.11, for the issue of 2,500,000 Ordinary Shares
and 1,250,000 unlisted warrants to Mr Billing. The proposed issue
of these securities are on the same terms as the Tranche 1
Placement Securities (the subject matter of Resolution 3). However,
ASX Listing Rules requires separate shareholder approval for the
issue of these securities, as Mr Billing is a Director and,
therefore a Related Party of the Company.
-- Resolution 7 seeks shareholder approval, for the purposes of
ASX Listing Rule 10.11, for the issue of 833,333 Ordinary Shares
and 416,667 unlisted Options to Mark McGeough. The proposed issue
of these securities are on the same terms as the Tranche 1
Placement Securities (the subject matter of Resolution 3). However,
ASX Listing Rules requires separate shareholder approval for the
issue of these securities, as Mr McGeough is a Director and,
therefore a Related Party of the Company.
The terms of the Options referred to in each of Resolutions 3 to
7 inclusive, all have an exercise price of GBP0.01 (1 penny) and an
expiry date two years from the date of issue.
Resolution 8 seeks shareholder approval, for the purposes of ASX
Listing Rule 7.1, to the issue of 4,000,000 unlisted warrants to a
company providing investor relations services to Thor, as part
consideration for the services being provided. The proposed
warrants have an exercise price of GBP0.0054 (0.54 pence) and
expire three years from the date of issue.
A copy of the Notice of the General Meeting will also be
available on the Company's website, http://www.thormining.com/
Settlement and dealings
Application will be made to the AIM Market of the London Stock
Exchange ("AIM") for a total of 53,833,333 new Ordinary Shares,
pursuant to the Conditional Placing, which will rank pari passu
with the Company's existing issued Ordinary Shares, to be admitted
to trading. Dealings on AIM are expected to commence at 8:00am on
or around 23 October 2020 ("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission of
the Initial Placing ordinary shares, Thor will have 1,493,204,800
Ordinary Shares in issue with voting rights attached. Thor holds no
shares in treasury. This figure of 1,493,204,800 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 to their interest in the Company, under
the ASX Listing Rules or the DTRs.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining PLC Executive Chairman
1935
Ray Ridge +61 (8) 7324 Thor Mining PLC CFO/Company Secretary
1935
Samantha Harrison/ +44 (0) 207 383 Grant Thornton Nominated Adviser
Niall McDonald 5100 UK LLP
Nick Emerson +44 (0) 1483 SI Capital Ltd Broker
413 500
Upd ates on the C o m pan y 's activities are regular ly p o
sted on Thor's we bsite w w w.th o r m i n i ng .c o m , which
includes a facility to regi ster to receive these updates by email,
and on the Co m pan y's twitter page @ThorMining.
Ab o u t T hor M i n i ng PLC
Thor Mining P LC (AI M, A S X: THR) is a r esources comp any
quoted on the AIM M a rket of the London Stock Exchange and on ASX
in Austr alia.
Thor holds 1 0 0% of the ad v anced Molyhil t ungsten p r oject
in t he No rthe rn T e rr ito ry of Aust r alia, for w hich an
updated feasibility study in August 2018(1) suggest ed attr a ctive
retur ns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in
deposits of tungsten, copper, and vanadium, including Inferred
Resource estimates for the White Violet and Samarkand tungsten
deposits and the Bonya copper deposit (2).
Thor a lso holds 1 0 0% of t he Pilot Mountain tungst en p
roject in Nevada U SA which has a JORC 20 12 Indicated and Inferred
Res o u rces Estimate (3) on 2 of the 4 k nown deposits. The US
Department of the Interior has confirmed that tungsten, the primary
resource mineral at Pilot Mountain, has been included in the final
list of Critical Minerals 2018.
Thor holds a 25% in ter est Aust r alian copper d evelopment
company EnviroCopper Limited (with rights to increase its interest
to 30%). EnviroCopper Limited holds:
-- r ights to earn up to a 7 5% interest in the mineral rights
and claims over the resource on the p o r tion of the historic
Kapunda copper mi ne in South Aust r alia considered recover able
by way of in situ recove ry; and
-- rights to earn up to 75% of the Moonta copper project, also
in South Australia comprising the northern portion of exploration
licence EL5984 and includes a resource estimate for several
deposits considered recover able by way of in situ recove ry .
N ot e s
(1) Refer ASX and AIM an n o u ncement of 23 August 2 0 18
(2) Refer ASX and AIM an n o u ncements of 26 November 2 0 18 and 29 January 2020
(3) Refer AIM ann o un cement of 13 December 2018 and ASX ann o
unce ment of 14 December 2018
Refer AIM a nn o un c e m e nt of 10 F e b r u ary 2 0 18 a nd
ASX ann o uncement of 12 February 2 0 18
Refer ASX and AIM an n o u ncement of 15 August 2 0 19
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NOGUUARRRKURRAA
(END) Dow Jones Newswires
October 02, 2020 06:22 ET (10:22 GMT)
Thor Energy (LSE:THR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Thor Energy (LSE:THR)
Historical Stock Chart
From Jul 2023 to Jul 2024