Result of General Meeting
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The General Meeting of the Shareholders of Mendell Helium was held today at 11.00 am (UK) at Arran House, Arran Road, Perth, Perthshire PH1 3DZ. The Company is pleased to confirm that all resolutions were duly passed.
Full details of the poll results are set out below:
| Resolution | For | Against | Discretion to Chairman | Percentage of Voting Rights | Withheld | Total |
|---|---|---|---|---|---|---|
| 01 | 15,080,057 | Nil | Nil | 18.02% | Nil | 15,080,057 |
| 02 | 15,080,057 | Nil | Nil | 18.02% | Nil | 15,080,057 |
| 03 | 15,080,057 | Nil | Nil | 18.02% | Nil | 15,080,057 |
| 04 | 15,080,057 | Nil | Nil | 18.02% | Nil | 15,080,057 |
The number of shares in issue at 6:30 p.m. (UK) on 12 May 2025 was 83,693,444. The Company does not hold any shares in treasury.
Issue of Equity & Warrants
Further to the announcement on 25 April 2025, the Company has issued 1,941,691 new Ordinary Shares ("Follow On Fundraise Shares") and a corresponding number of warrants pursuant to the Follow On Fundraise (as defined in the 25 April 2025 announcement). During April 2025, Mendell Helium raised, in aggregate, approximately £834,000 through the combined fundraise. Following the General Meeting, the Company now has allotment authorities in respect of investor warrants over 41,749,650 new Ordinary Shares exercisable at a price of 3 pence per share and broker warrants over 675,000 new Ordinary Shares exercisable at a price of 2 pence per share, each exercisable for a period of two years from the 14 April 2025.
Admission
Application will be made for the Follow On Fundraise Shares to be admitted to trading on the Aquis Stock Exchange AQSE Growth Market ("Admission"). Admission is expected to occur at 8:00 am on or around 16 May 2025. The New Ordinary Shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
Following Admission, the Company's enlarged share capital will comprise 85,635,135 ordinary shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 85,635,135. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The Directors of the Company are responsible for the release of this announcement.
Mendell Helium announced on 27 June 2024 that it has entered into an option agreement to acquire the entire issued share capital of M3 Helium through the issue of 57,611,552 new ordinary shares in Mendell Helium to M3 Helium's shareholders. The exercise of the option will constitute a reverse takeover pursuant to AQSE Rule 3.6 of the Access Rule Book and is subject to, inter alia, publication of an admission document.
The ninth well, Rost, is in Fort Dodge, just to the east of Dodge City, Kansas. It was tested in July 2024 as containing 5.1% helium composition and a previous drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. M3 Helium owns a mobile Pressure Swing Adsorption production plant which has been installed on site and will be used to purify the produced helium. The plant is capable of processing up to 800 Mcf per day of raw gas and purifying it up to 99.999% helium.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.