17 October 2024
DUKEMOUNT CAPITAL
PLC
("Dukemount" or the "Company")
Board Changes, Placing, Issue
of Convertible Loan Notes, Issue of New Warrants and Re-Pricing of
Existing Warrants
The Directors of Dukemount are
pleased to announce a fundraise, issue of warrants and board
changes.
Highlights:
·
Peterhouse Capital ('Peterhouse") has raised
£150,000 for Dukemount from its investors.
·
Funds raised via a combination
of a placing of new shares, at a price of £0.00025, and an issue of
new Convertible Loan Notes ("CLNs"), with a mandatory conversion at
the same £0.00025 price.
·
Richard Edwards to join the Board, having invested
£37,500; £16,750 into the placing and £20,750 subscribed for
CLNs
Placing and Issue of Convertible Loan Notes
Dukemount announces that Peterhouse
Capital has raised £150,000; £98,500 through the issue of
394,000,000 new Ordinary Shares (the "Placing Shares") at a price
of £0.00025 each and the issue of £51,500 Convertible Loan
Notes.
The CLNs are convertible at £0.00025
into 206,000,000 new Ordinary Shares (the "CLN Shares") and will be
mandatorily converted at the end of a three-month period, unless
the Company elects to extend the conversion period by up to an
additional six months.
The Placing Shares and the CLN
Shares will have a one for one warrant attached (the "Warrants").
The Warrants are exercisable at £0.000375 per share for a period of
3 years from the date of admission of the Placing
Shares.
Outstanding Warrants
The Board have agreed to re-price
the exercise price of all DKE's outstanding warrants as of 17
October 2024 to £0.000375 per share.
Board Changes
Dukemount announces that Richard
Edwards has been appointed to the board as Executive Director, with
immediate effect.
Richard Edwards is an entrepreneur
and professional investor with many years of experience in
investing in small-cap companies across a wide range of sectors
including mining, oil and gas, IT, healthcare and green technology.
Richard has significant experience in investing in cash
shells.
Richard is also the Senior Partner
at a boutique firm of Chartered Accountants specialising in tax
advisory, compliance and accounting services for private
clients.
No information is required to be
disclosed pursuant to paragraph 9.6.13R of the Listing
Rules.
Richard, his wife Charlotte and
across their SIPPs currently hold 25.01% Ordinary Shares in
Dukemount and will subscribe for 67,000,000 new Ordinary Shares in
the Placing for £16,750 and £20,750 of CLNs with Warrants
attached.
As part of these Board Changes,
Geoffrey Dart will step down as non-executive director with
immediate effect and Paul Gazzard will move to become a
non-executive director.
Applications will be made for the
Admission of the Placing Shares and it is expected that Admission
will become effective and that dealing in the Placing Shares will
commence on or around 23 October 2024. Following Admission, the
Company will have 2,113,316,623 ordinary shares of £0.00001 each in
issue, none of which are held in treasury. Therefore, the total
number of voting rights in the Company will be
2,113,316,623.
For further information, please visit www.dukemountcapitalplc.com or contact:
Company
Dukemount Capital
PLC
info@dukemountplc.com
Richard Edwards (Executive
Director)
Corporate Broker
Peterhouse Capital Limited
+44 (0) 207 469 0930