Directors' subscriptions and issue of Fee Shares
Directors subscribed for 735,577 shares at 1.3p; 543,269 Fee Shares issued to advisers.
- Subscription Shares subscribed by Directors 735,577
- Subscription Price per share 1.3 pence
- Total subscription value £9,562.50
- Fee Shares issued 543,269
- Total issued share capital post-Admission 252,618,786 ordinary shares
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GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce the subscription of shares in the Company by two GreenRoc directors. 735,577 new ordinary shares of 0.1 pence each (the "Subscription Shares") have been subscribed for at a price of 1.3 pence per Share (the "Subscription Price") for a total of £9,562.50.
In addition, the Company has issued 543,269 new ordinary shares in the Company ("Fee Shares") at a value of 1.3 pence per Fee Share in respect of £6,000 payable to certain external advisers.
| GROC Directors | Fees paid (£) | Shares Allotted |
|---|---|---|
| Lars Brünner | 2,500.00 | 192,308 |
| Mark Rachovides | 7,062.50 | 543,269 |
| Subscription Shares | 9,562.50 | 735,577 |
| External advisers (Fee Shares) | 6,000.00 | 543,269 |
| Total | 15,562.50 | 1,197,115 |
GROC Directors
The table below provides details of the purchase of Shares by Directors of the Company under the Subscription and their resulting interests following the purchase. The PDMR forms are set out at the bottom of this announcement.
| Name | Interest in Shares prior to the Subscription | Number of Subscription Shares subscribed for | Interest in Shares following completion of the Subscription | % of Enlarged Share Capital |
|---|---|---|---|---|
| Mark Rachovides | 472,308 | 543,269 | 1,015,577 | 0.40% |
| Lars Brünner | 125,000 | 192,308 | 317,308 | 0.13% |
Related Party Transactions
The subscriptions by the above-named GreenRoc directors constitute related party transactions as defined by the AIM Rules. The independent directors of the Company in relation to the subscriptions by the GreenRoc directors, being all of the directors of the Company other than Mr Brünner and Mr Rachovides, consider, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser, that the terms of the subscriptions by the above-named GreenRoc directors are fair and reasonable insofar as the Company's shareholders are concerned.
Admission to Trading on AIM and Total Voting Rights
Application has been made for the Subscription Shares and the Fee Shares (together, the "New Ordinary Shares") which will rank pari passu with the existing ordinary shares of 0.1 pence each, to be admitted to trading on AIM ("Admission"). It is expected that Admission of the 1,197,115 New Ordinary Shares, will become effective and that dealings will commence at 8:00 a.m. on or around 20 March 2025.
Following the issue of the New Ordinary Shares, the total issued share capital of the Company will consist of 252,618,786 ordinary shares of 0.1 pence each. The Company does not hold any ordinary shares in Treasury, therefore the total voting rights in the Company following Admission will be 252,618,786. This figure 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
PDMR Disclosures
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a. | Name | Mr Lars Brünner |
| 2 | Reason for notification | |
| a. | Position/Status | Director |
| b. | Initial notification/ Amendment | Initial notification |
| a. | Name | GreenRoc Strategic Materials Plc |
| b. | LEI | 213800OAVF2KQAD11380 |
| a. | Description of the financial instrument, type of instrument Identification Code | Ordinary shares of £0.001 each GB00BLD3C518 |
| b. | Nature of the transaction | Subscription for Ordinary shares of £0.001 each |
| c. | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 1.30 pence | 192,308 | |
| d. | Aggregated information | N/A |
| f. | Place of the transaction | London, UK |
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a. | Name | Mr Mark Rachovides |
| 2 | Reason for notification | |
| a. | Position/Status | Director |
| b. | Initial notification/ Amendment | Initial notification |
| a. | Name | GreenRoc Strategic Materials Plc |
| b. | LEI | 213800OAVF2KQAD11380 |
| a. | Description of the financial instrument, type of instrument Identification Code | Ordinary shares of £0.001 each GB00BLD3C518 |
| b. | Nature of the transaction | Subscription for Ordinary shares of £0.001 each |
| c. | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 1.30 pence | 543,269 | |
| d. | Aggregated information | N/A |
| f. | Place of the transaction | London, UK |
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