Exercise of Warrants, Directors Dealings and TVR
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Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa announces that, following receipt of notices to exercise warrants over ordinary shares in the Company (the 'Exercise') by four of the Company's directors, application has been made for 17,444,445 new ordinary shares of 0.1p each ('Ordinary Shares') in the Company to be admitted to trading on AIM on 26 January 2024 ('Admission'). The exercise prices of the warrants are as set out below:
| Instrument | Exercise Price (pence) | Number of New Ordinary Shares to be admitted |
|---|---|---|
| Warrants | 0.25 | 17,444,445 |
The warrants are being exercised by four directors of the Company and details of these together with their resultant interests in the share capital of the Company are set out below:
| Name | No. of Existing Ordinary Shares | No. of Shares to be issued in respect of Warrant exercise | Number of Ordinary Shares held post Admission | Percentage of enlarged issued share capital following Admission | Total Warrant holdings post Admission | Total Option holdings post Admission |
|---|---|---|---|---|---|---|
| Eileen Carr | 152,672,969 | 9,500,000 | 162,172,969 | 4.18% | 1,611,111 | 24,300,000 |
| Tim Livesey | 38,308,323 | 2,777,778 | 41,086,101 | 1.06% | - | 76,479,940 |
| Robert Smeeton | 32,436,378 | 3,500,000 | 35,936,378 | 0.93% | 3,166,666 | 64,383,952 |
| Claire Bay | 9,739,901 | 1,666,667 | 11,406,568 | 0.29% | - | 47,530,000 |
Further details on the exercise are included in the notification below, made in accordance with the requirements of UK MAR.
The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.
Following Admission, a total of 171,444,443 warrants and 264,526,245 options over Ordinary Shares (representing approximately 11.2 per cent. of the Company's enlarged issued share capital) remain outstanding.
Total Voting Rights
Following Admission, the Company's issued share capital will be 3,881,983,450 Ordinary Shares. This figure of 3,881,983,450 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.
ANNEX - PDMR notifications
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Eileen Carr |
| 2 | Reason for the notification | |
| a) | Position/status | Chair |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Oriole Resources PLC |
| b) | LEI | 213800X32GJR5AGAR511 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.1 pence each in the capital of the Company |
| Identification code | Ordinary share ISIN: GB00B0T29327 | |
| b) | Nature of the transaction | Exercise of warrants |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 0.25p | 9,500,000 | |
| d) | Aggregated information | |
| - Aggregated volume | n/a | |
| - Price | ||
| e) | Date of the transaction | 22nd January 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Timothy Livesey |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Oriole Resources PLC |
| b) | LEI | 213800X32GJR5AGAR511 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.1 pence each in the capital of the Company |
| Identification code | Ordinary share ISIN: GB00B0T29327 | |
| b) | Nature of the transaction | Exercise of warrants |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 0.25p | 2,777,778 | |
| d) | Aggregated information | |
| - Aggregated volume | n/a | |
| - Price | ||
| e) | Date of the transaction | 22nd January 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Robert Smeeton |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Oriole Resources PLC |
| b) | LEI | 213800X32GJR5AGAR511 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.1 pence each in the share capital of the company |
| Identification code | Ordinary share ISIN: GB00B0T29327 | |
| b) | Nature of the transaction | Exercise of warrants |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 0.25p | 3,500,000 | |
| d) | Aggregated information | |
| - Aggregated volume | n/a | |
| - Price | ||
| e) | Date of the transaction | 22nd January 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Claire Bay |
| 2 | Reason for the notification | |
| a) | Position/status | Executive Director, Exploration & Business Development |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Oriole Resources PLC |
| b) | LEI | 213800X32GJR5AGAR511 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.01 pence each in the share capital of the company |
| Identification code | Ordinary share ISIN: GB00B0T29327 | |
| b) | Nature of the transaction | Exercise of warrants |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 0.25p | 1,666,667 | |
| d) | Aggregated information | |
| - Aggregated volume | n/a | |
| - Price | ||
| e) | Date of the transaction | 22nd January 2024 |
| f) | Place of the transaction | Outside a trading venue |
| Oriole Resources Plc | Tel: +44 (0)20 7830 9650 | |
| Tim Livesey / Bob Smeeton / Claire Bay | ||
| BlytheRay (IR/PR Contact) | Tel: +44 (0)20 7138 3204 | |
| Tim Blythe / Megan Ray | ||
| Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 | |
| Samantha Harrison / Ciara Donnelly | ||
| SP Angel Corporate Finance LLP Ewan Leggat / Harry Davies-Ball | Tel: +44 (0)20 3470 0470 | |
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