TIDMCGO

RNS Number : 7838M

Contango Holdings PLC

23 September 2021

23 September 2021

Contango Holdings Plc

("Contango Holdings" or the "Company")

Exercise of Warrants by Directors

Contango Holdings PLC ("Contango", the "Company") is pleased to advise it has received notices to exercise warrants, that were due to expire on 1 November 2021, from former and current directors of the Company. Proceeds of GBP382,767.70 have been received by the Company, which has in turn issued 12,564,464 new ordinary shares ("New Ordinary Shares"). The Directors of the Company have exercised their entire holding of warrants and no longer hold any further warrants in the Company.

In recent weeks the Company has raised over GBP500,000 through the exercise of warrants and these funds will now supplement the GBP1m convertible loan issued in June 2021. The funds will be deployed to advance the Lubu coking coal project and Garalo-Ntiela gold project towards production.

Carl Esprey, CEO of Contango, commented:

'I am pleased to see the founders and my co-directors continue to invest in the Company. I recently returned from Zimbabwe having reviewed our operations and met with potential customers. The Lubu project is making good progress and interest by strategic parties in Lubu has significantly increased given the positive movements and outlook for coking coal prices. I look forward to updating the market in the near term.'

Holdings in the Company

 
 Director             Current      Warrants Exercised   Revised Holding   % Enlarged 
                                                                           Share Capital 
 Oliver Stansfield    5,940,699    3,141,116            9,081,815         3.4% 
                     -----------  -------------------  ----------------  --------------- 
 Philip Richards*     30,040,699   3,141,116            33,181,815        12.9% 
                     -----------  -------------------  ----------------  --------------- 
 

*Philip Richards' interest is held through RAB Capital, a company that he controls.

Admission to Trading

An application has been made for the New Ordinary Shares to be admitted to the official list and to trading on London Stock Exchange with effect from 8.00 a.m. 28 September 2021 ("Admission").

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's enlarged issued ordinary share capital will comprise 257,841,605 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please visit www.contango-holdings-plc.co.uk or contact:

 
 Contango Holdings plc                         E: info@contango-holdings-plc.co.uk 
  Chief Executive Officer 
  Carl Esprey 
 
 Brandon Hill Capital Limited                  T: +44 (0)20 3463 5000 
  Financial Adviser & Broker 
  Jonathan Evans 
 
 St Brides Partners Ltd 
  Financial PR & Investor Relations 
  Susie Geliher/Selina Lovell 
                                                                                           -------- 
    1.       Details of the person discharging managerial responsibilities 
              / person closely associated 
    a.       Name                                              1. Oliver Stansfield 
                                                                2. Philip Richards 
            -------------------------------------  ------------------------------------------------ 
    2.       Reason for the notification 
            --------------------------------------------------------------------------------------- 
    a.       Position/status                        1. Non-executive Director 
                                                     2. 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                                   Contango Holdings PLC 
            -------------------------------------  ------------------------------------------------ 
    b.       LEI                                    213800WAVVOPS85N2205 
            -------------------------------------  ------------------------------------------------ 
    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 GBP0.01 
              instrument, type of instrument         each 
              Identification code                    GB00BF0F5X78 
            -------------------------------------  ------------------------------------------------ 
    b.       Nature of the transaction              Exercise of Warrants 
            -------------------------------------  ------------------------------------------------ 
    c.       Price(s) and volume(s)                   Director          Average        Volume 
                                                                          Price/share    (s) 
                                                       1.O Stansfield    3.046p         3,141,116 
                                                                        -------------  ---------- 
                                                       2.P Richards      3.046p         3,141,116 
                                                                        -------------  ---------- 
            -------------------------------------  ------------------------------------------------ 
    d.                Aggregated information 
                        *    Aggregated volume        N/A Single transaction 
 
 
                        *    Price 
            -------------------------------------  ------------------------------------------------ 
    e.       Date of the transaction                22 September 2021 
            -------------------------------------  ------------------------------------------------ 
    f.       Place of the transaction               London Stock Exchange 
            -------------------------------------  ------------------------------------------------ 
 
 

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

DSHFLFVIAVIVFIL

(END) Dow Jones Newswires

September 23, 2021 06:39 ET (10:39 GMT)

Contango (LSE:CGO)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Contango.
Contango (LSE:CGO)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Contango.