Kendrick Resources PLC Update on issue of equity to EMX (2506X)
24 Abril 2023 - 6:19AM
UK Regulatory
TIDMKEN
RNS Number : 2506X
Kendrick Resources PLC
24 April 2023
24 April 2022
Kendrick Resources Plc
("Kendrick" or the "Company")
Update on issue of equity to EMX
Kendrick Resources Plc (LSE: KEN), a mineral exploration and
development company with projects in Scandinavia announces that the
number of new ordinary shares being issued in relation to the
Company's acquisition of the Espedalen, Hosanger, and Sigdal
nickel-copper-cobalt exploration projects in Norway from EMX
Scandinavia AB ("EMX") is 4,144,395 not 26,341,952 as previously
announced on 20 April 2023.
Lock up arrangements: 50% of these shares shall be subject to a
three-month voluntary escrow and the balance of 50% subject to a
six-month voluntary escrow.
3,683,906 of the new ordinary shares will be issued to EMX
Scandinavia AB which will increase the combined shareholding of EMX
Scandinavia AB and EMX Royalty Corporation to 21,663,284 shares
represent 8.9% of the enlarged share capital with the balance of
the new ordinary shares to be issued to a business partner of
EMX.
Application to trading: Applications have been made to the
Financial Conduct Authority ("FCA") and the London Stock Exchange
for the 4,144,395 new ordinary shares, to be admitted to the
Official List and to trading on the London Stock Exchange's main
market for listed securities (the "Admission"). It is expected that
Admission will become effective and that dealings in the New
Ordinary Shares will commence at 8.00 a.m. on or around 26 April
2022.
Issued Share Capital: Following the issue of the new ordinary
shares, the Company's total issued share capital will consist of
243,882,767 ordinary shares with voting rights. The Company does
not hold any ordinary shares in treasury and accordingly there are
no voting rights in respect of any treasury shares.
Total Voting Rights On Admission : The above mentioned figure of
243,882,767 ordinary shares 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, Kendrick under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
Further information on the Norwegian projects can be found on
the Company's website at:
https://www.kendrickresources.com/nickel/
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended).
For additional information please contact:
Kendrick Resources Tel: +44 203 961 6086
Plc: Colin Bird
Chairman
Novum Securities Tel: +44 7399 9400
Financial Adviser David Coffman / George Duxberry
Joint Broker Jon Bellis
Shard Capital Partners Tel: +44 207 186 9952
LLP Damon Heath / Isabella Pierre
Joint Broker
About Kendrick Resources Plc
Kendrick Resources Plc is a mineral exploration and development
company with projects primarily based across Scandinavia. The
principal of its business is to explore the opportunities within
the natural resources sector with a focus on battery, base, and
precious metals including but not limited to vanadium and nickel.
In doing so, the Company is looking to build a long-term energy
metals business in Scandinavia which delivers energy metals to
Europe to help enable its renewable energy transformation by
building a top tier energy metals production business.
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END
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(END) Dow Jones Newswires
April 24, 2023 07:19 ET (11:19 GMT)
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