This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement via
a Regulatory Information Service, this inside information is now
considered to be in the public domain.
26 July
2024
Rome Resources
Plc
("Rome" or
the "Company")
Completion of acquisition of
Rome Resources Ltd
and
Enlarged share capital
admitted to trading on AIM
Rome Resources Plc (AIM: RMR) is
pleased to announce the completion of its acquisition of Rome
Resources Ltd ("Rome
Resources") ("Completion") and the admission of its
enlarged share capital to trading on AIM effective from 8.00
a.m. on 26 July 2024 ("Admission") under the Company's new
name "Rome Resources Plc", which has now become effective, and the
TIDM code "RMR".
Allenby Capital Limited
("Allenby Capital") is
acting as Nominated Adviser and Joint Broker to the Company
alongside Oak Securities (a trading name of
Merlin Partners LLP) who are acting as Joint Broker to the
Company.
Admission Highlights
· Successful fundraise of approximately £4.0 million (before
expenses) through the issue of 1,333,333,330 new ordinary
shares with a nominal value of 0.1 pence each ("Ordinary Shares") at an issue price of
0.30 pence per new Ordinary Share (the "Issue Price").
· On
Admission and based on the Issue Price, the Company will have a
market capitalisation of approximately £14.6 million.
· Acquisition of Rome Resources:
o Exploration
potential: Rome Resources has
identified three prospective areas located in the Projects with
high-grade tin in soil anomalies identified.
o Proximity to world class
resource: Alphamin's Mpama North
mine, located 8km away from the Projects, is reported by
the Edison Group in 2023 as the world's highest-grade tin mine, producing 4 per cent.
of the world's tin from analogous geology to the
Projects.
o Exploration
team: Rome Resources' exploration
team discovered Alphamin's tin resources.
o Defined roadmap to resource
definition: Immediate
near-term drilling is anticipated to advance the
Projects from the outset.
o The current global price of
tin is 37 per cent. higher than the lowest price during the last 12
months: The demand for tin has been
influenced by a number of factors including but not limited to: (i)
the energy transition; (ii) disruptions to countries that have
traditionally contributed to the global market share of tin
production; and (iii) growth of the global artificial intelligence
(AI) sector which is expected to contribute to an increase in
demand in electronics and electrification.
Paul Barrett, Chief Executive Officer of Rome Resources Plc,
commented:
"Today marks a new beginning and we are hugely pleased to have
successfully delivered Rome Resources to London's AIM market whilst
raising approximately £4.0 million. The fundraise demonstrates the
appetite amongst investors for the Projects in the Democratic
Republic of Congo and enables us to advance exploration
workstreams, as we seek to move the Projects up the value chain.
Our firm view is that Bisie North has the potential to be a highly
strategic tin project to global supply. I look forward with much
enthusiasm to updating shareholders in the months
ahead."
Following Admission, the Company
will have 4,871,864,607 Ordinary Shares in issue. The Company's
ISIN and SEDOL remains unchanged and is GB00BYY0JQ23 and BYY0JQ2
respectively. A copy of the Admission Document as well as the
information required to be disclosed pursuant to AIM Rule 26 is
available on the Company's new website, www.romeresources.com.
It is anticipated that the
Consideration Shares will be distributed by Link Group on or prior
to 7 August 2024 to shareholders of Rome Resources Ltd as at the
Effective Time.
Notification and public disclosure
of transactions by persons discharging managerial responsibilities
and persons closely associated with them is set out at the end of
this announcement.
The
same definitions apply throughout this announcement as those set
out in the Admission Document published on 8 July 2024, a copy of
which is available to view at www.romeresources.com,
unless the context requires otherwise.
For further information please
contact:
Rome Resources Plc
Mark Gasson, Executive
Chairman
Paul Barrett, Chief Executive
Officer
Tel. +44 (0)20 3143 6748
Allenby Capital Limited (Nominated Adviser and Joint
Broker)
John Depasquale / Vivek Bhardwaj /
Lauren Wright (Corporate Finance)
Stefano Aquilino / Joscelin
Pinnington (Sales & Corporate Broking)
Tel. +44 (0)20 3328 5656
OAK
Securities (Joint Broker)
Jerry Keen, Head of Corporate
Broking (jerry.keen@oak-securities.com)
Henry Clarke, Head of Sales
(henry.clarke@oak-securities.com)
Tel. +44 (0)20 3973 3678
Camarco (Financial PR)
Gordon Poole / Emily Hall / Sam
Morris
Tel. +44 (0) 20 3757 4980
OAK Securities is a trading name of
Merlin Partners LLP. Merlin Partners LLP is authorised and
regulated by the Financial Conduct Authority (Reference Number:
449191). Merlin Partners LLP is registered in England and Wales
(Registered Partnership Number: OC317265).
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Mark Gasson
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Executive Chairman
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Rome Resources Plc
|
|
b)
|
LEI
|
2138009YG6AG3K86TN77
|
|
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
instrument, type of instrument
Identification code
|
Ordinary shares of 0.1p each in Rome
Resources Plc ("Ordinary Shares")
Identification code (ISIN) for
Ordinary Shares: GB00BYY0JQ23
|
|
b)
|
Nature of the transaction
|
Receipt of Ordinary Shares in the
form of consideration shares as part of Rome Resources Plc's
acquisition of Rome Resources Ltd
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
0.30p
|
401,351,600
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
- see above
- see above
|
|
e)
|
Date of the transaction
|
26 July 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
|
Name
|
Position
|
|
Paul Barrett
|
Chief Executive Officer
|
|
Mark Gasson
|
Executive Chairman
|
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
See 1 a) above
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Rome Resources Plc
|
|
b)
|
LEI
|
2138009YG6AG3K86TN77
|
|
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
instrument, type of instrument
Identification code
|
Ordinary shares of 0.1p each in Rome
Resources Plc ("Ordinary Shares")
Identification code (ISIN) for
Ordinary Shares: GB00BYY0JQ23
|
|
b)
|
Nature of the transaction
|
Grant of options and warrants over
Ordinary Shares
|
|
c)
|
Price(s) and volume(s)
|
|
Name
|
Instrument
|
Price(s)
|
Volume(s)
|
|
Paul Barrett
|
Director Warrants
|
0.30p
|
121,796,615
|
|
Mark Gasson
|
Director Warrants
|
0.30p
|
121,796,615
|
|
Mark Gasson
|
Replacement Warrants
|
0.72p
|
9,770,000
|
|
Mark Gasson
|
Replacement Warrants
|
0.86p
|
9,770,000
|
|
Mark Gasson
|
Replacement Options
|
1.10p
|
9,770,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
- see above
- see above
|
|
e)
|
Date of the transaction
|
26 July 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|