THE DIRECTORS OF
IMC EXPLORATION GROUP PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN
INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU)
NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF
16 APRIL 2014 ON MARKET ABUSE AS IT
FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 (THE "MARKET ABUSE REGULATION"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
IMC Exploration
Group Public Limited Company
(“IMC” or the
“Company”)
Award of New
Ordinary Shares In lieu of Monetary Compensation
IMC announces that the Board of
Directors has resolved to issue as follows in lieu of monetary
remuneration an aggregate of 14,794,916 new ordinary shares of
€0.001 each in the capital of the Company at 0.63 pence Sterling per share (the “Remuneration
Shares”), being the mid-market closing price on 16th
December 2022 on the main market of
the London Stock Exchange of the Company’s shares:
Allottee |
Position |
No. of Remuneration
Shares |
Eamon P. O'Brien: |
Executive Chairman |
8,219,398 |
Lisa McDonnell |
Senior Administrator |
6,575,518 |
Total |
14,794,916 |
Application shall be made to the
Financial Conduct Authority (“FCA”) for the Remuneration Shares,
which rank pari passu in all respects with the Company
existing ordinary shares in issue, to be admitted to the standard
segment of FCA’s Official List and to the London Stock Exchange for
admission to trading on main market (together, “Admission”). A
further announcement in this connection shall be made shortly.
Directors’ and
other notifiable Interests
Prior to the allotment and Admission
of the Remuneration Shares, Eamon P. O’Brien, a Director and the
Executive Chairman of IMC, held 6,240,000 shares equating to 2.00%
(two per cent.) of the voting rights in the capital of the Company.
Following Admission of the Remuneration Shares he will hold
14,459,398 share or 4.43% (four point four three per cent.) of the
voting rights in the capital as it shall have been enlarged by the
14,794,916 Remuneration Shares.
Lisa
McDonnell previously held 12,290,000 shares equating to
3.95% (three point nine five per cent.) of the voting rights.
Following Admission of the Remuneration Shares, Ms. McDonnell will
hold 18,865,518 shares representing 5.78% (five point seven eight
per cent.) of IMC’s enlarged share capital.
Following the allotment and
Admission of the Remuneration Shares, the Company’s issued ordinary
share capital shall consist of 326,290,907 shares (311,495,991
shares) and, upon Admission, the former figure should be used by
shareholders as the denominator to determine whether or not they
need to notify IMC of a change in their own interests in the
capital of the Company.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 19th December 2022
The Directors of IMC, after due and
careful enquiry, accept responsibility for the content of this
announcement.
REGULATORY ANNOUNCEMENT ENDS.
Enquiries:
Keith, Bayley, Rogers & Co.
Limited
Graham Atthill-Beck: +44 7506 43
41 07 / Graham.Atthill-Beck@kbrl.co.uk;
blackpearladvisers@gmail.com
Brinsley Holman: +44 7776 30 22
28/ Brinsley.Holman@kbrl.co.uk
IMC Exploration Group plc
Kathryn Byrne: +353 85 233
6033