Settlement Agreement & Issue of Equity
Mendell Helium plc has entered into a settlement agreement with a former broker, resulting in the exercise of warrants for 500,000 new ordinary shares at 3 pence per share, totaling £15,000. This amount will be offset against an outstanding obligation owed to the broker. Application has been made for these 500,000 new ordinary shares to be admitted to trading on AIM, expected on or around July 31, 2026. Following admission, the Company's enlarged share capital will consist of 341,886,938 ordinary shares, representing the total number of voting rights.
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Mendell Helium (LON: MDH) announces that further to disclosures made in the Company's admission document dated 11 June 2026, the Company has entered into a settlement agreement (the "Agreement") with a former broker to the Company.
Pursuant to the terms of the Agreement, the former broker has agreed to exercise warrants over 500,000 new ordinary shares at 3 pence per share. The £15,000 warrant exercise amount will be offset against part of an outstanding obligation owed by the Company to the former broker.
Admission
Application has been made for 500,000 new ordinary shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8:00 a.m. on or around 31 July 2026. 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 341,886,938 Ordinary Shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 341,886,938. 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.
| Mendell Helium plc Nick Tulloch, CEO | Via our website investors@mendellhelium.com |
| Cairn Financial Advisers LLP (Nominated Adviser) Ludovico Lazzaretti / Liam Murray | Tel: +44 (0) 20 7213 0880 |
| SI Capital Limited (Broker) Nick Emerson | Tel: +44 (0) 1483 413500 |
| Fortified Securities Guy Wheatley | Tel: +44 (0) 203 4117773 |
| OAK Securities Jerry Keen / Calvin Man | Tel: +44 (0) 20 3973 3678 |
| AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss | Tel: +44 (0) 207 4690930 |
| Brand Communications ( Public & Investor Relations) Alan Green | Tel: +44 (0) 7976 431608 |
Overview of Mendell Helium
M3 Helium's flagship well, Rost 1-26, is in Fort Dodge, just to the east of Dodge City, Kansas. It has been tested as containing 5.1% helium composition and a drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. Water removed from Rost 1-26 is delivered to Brobee, a nearby disposal well that has been permitted at 10,000 barrels of water per day at 1,200 psi. Production at Rost 1-26 commenced in early November 2025 and the most recently recorded flow rate in December 2025 was 250 Mcf per day equating to approximately $1.4 million of helium per year (at $300/Mcf helium).
M3 Helium has subsequently drilled a second well, Rost 2-26, which is currently being completed. It also owns additional leases in the Fort Dodge area capable of supporting up to eight new production wells. It has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13A, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.