TIDMECR
RNS Number : 7183W
ECR Minerals PLC
14 December 2023
ECR MINERALS plc
("ECR Minerals" or the "Company")
Issue of Equity and Total Voting Rights
PDMR Dealing
ECR Minerals plc (LON:ECR), the exploration and development
company focused on gold in Australia, is pleased to confirm that
the new ordinary shares awarded to Nick Tulloch, managing director,
and Mike Whitlow, chief operating officer pursuant to their
remuneration arrangements announced on 19 September 2023 have been
issued and allotted. Accordingly, each of Nick Tulloch and Mike
Whitlow have received 12,857,142 new ordinary shares, in lieu of
GBP22,500 of their remuneration for the period 15 September 2023 to
14 December 2023, at a price of 0.175p per share.
The total ordinary shares in ECR Minerals currently held by Nick
and Mike, as PDMRs of the Company, are as follows:
Name Shares in Total Shares Percentage
the Company in the Company of the Company's
Issued today now held issued equity
held
Nick Tulloch 12,857,142 12,857,142 0.8%
-------------- ---------------- ------------------
Mike Whitlow 12,857,142 12,857,142 0.8%
-------------- ---------------- ------------------
Total 25,714,284
-------------- ---------------- ------------------
Additional Issue of Equity
At the same time, the Company has agreed to issue and allot
2,585,092 new ordinary shares in lieu of GBP6,000 of fees owed by
the Company in order to assist the Company in conserving its cash
resources. These shares have been issued at a price of 0.232p,
which is the volume weighted average price for ECR Mineral's
ordinary shares over the past 14 trading days.
Admission and Disclosure and Transparency Rules
Application has been made for 28,299,376 new ordinary shares to
be admitted to trading on AIM ("Admission") and it is expected that
Admission will become effective on or around 15 December 2023. The
new ordinary shares will rank pari passu with the existing ordinary
shares. Upon Admission, ECR's issued ordinary share capital will
comprise 1,597,382,518 ordinary shares of 0.001p. This number will
represent the total voting rights in the Company, and, following
admission may be used by shareholders as the denominator for the
calculation by which they can determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure and
Transparency Rules.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman
Nick Tulloch, Managing Director
Andrew Scott, Director
Email:
info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0) 207 220 1666
Nominated Adviser
Katy Mitchell / Andrew de Andrade
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited Tel: +44 (0) 20 7399 9425
Broker
Jon Belliss
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company.
ECR's wholly owned Australian subsidiary Mercator Gold Australia
Pty Ltd ("MGA") has 100% ownership of the Bailieston and Creswick
gold projects in central Victoria, Australia, has six licence
applications outstanding which includes one licence application
lodged in eastern Victoria (Tambo gold project).
ECR also owns 100% of an Australian subsidiary LUX Exploration
Pty Ltd ("LUX") which has three approved exploration permits
covering 946 km2 over a relatively unexplored area in Lolworth
Range, Queensland, Australia. The Company has also submitted a
license application at Kondaparinga which is approximately 120km2
in area and located within the Hodgkinson Gold Province, 80km NW of
Mareeba, North Queensland.
Following the sale of the Avoca, Moormbool and Timor gold
projects in Victoria, Australia to Fosterville South Exploration
Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor
projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold
Australia Pty Limited has the right to receive up to A$2 million in
payments subject to future resource estimation or production from
projects sold to Fosterville South Exploration Limited.
ECR holds a 90% interest in the Danglay gold project; an
advanced exploration project located in a prolific gold and copper
mining district in the north of the Philippines, which has a 43-101
compliant resource. ECR also holds a royalty on the SLM gold
project in La Rioja Province, Argentina and can potentially receive
up to US$2.7 million in aggregate across all licences.
2 Details of the person discharging managerial responsibilities
---- -----------------------------------------------------------------------------
a) Name Nick Tulloch
---- ------------------------------------------ ---------------------------------
2 Reason for the notification
---- -----------------------------------------------------------------------------
a) Position/status Managing Director
---- ------------------------------------------ ---------------------------------
b) Initial notification/amendment Initial notification
---- ------------------------------------------ ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- -----------------------------------------------------------------------------
a) Name ECR Minerals plc
---- ------------------------------------------ ---------------------------------
b) LEI 213800PBXY96KXHISJ17
---- ------------------------------------------ ---------------------------------
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, ordinary shares of 0.001p each
type of instrument
Identification code GB00BYYDKX57
---- ------------------------------------------ ---------------------------------
b) Nature of the transaction New ordinary shares issued
---- ------------------------------------------ ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------ -----------
0.175p per share 12,857,142
---- ------------------------------------------ ---------------------------------
d) Aggregated information
- Aggregated volume 12,857,142
- Price 0.175p
----------------------------------------------- ---------------------------------
e) Date of the transaction 14 December 2023
---- ------------------------------------------ ---------------------------------
f) Place of the transaction London Stock Exchange (XLON)
---- ------------------------------------------ ---------------------------------
1 Details of the person discharging managerial responsibilities
---- -----------------------------------------------------------------------------
a) Name Mike Whitlow
---- ------------------------------------------ ---------------------------------
2 Reason for the notification
---- -----------------------------------------------------------------------------
a) Position/status Chief Operating Officer
---- ------------------------------------------ ---------------------------------
b) Initial notification/amendment Initial notification
---- ------------------------------------------ ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- -----------------------------------------------------------------------------
a) Name ECR Minerals plc
---- ------------------------------------------ ---------------------------------
b) LEI 213800PBXY96KXHISJ17
---- ------------------------------------------ ---------------------------------
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, ordinary shares of 0.001p each
type of instrument
Identification code GB00BYYDKX57
---- ------------------------------------------ ---------------------------------
b) Nature of the transaction New ordinary shares issued
---- ------------------------------------------ ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------ -----------
0.175p per share 12,857,142
---- ------------------------------------------ ---------------------------------
d) Aggregated information
- Aggregated volume 12,857,142
- Price 0.175p
----------------------------------------------- ---------------------------------
e) Date of the transaction 14 December 2023
---- ------------------------------------------ ---------------------------------
f) Place of the transaction London Stock Exchange (XLON)
---- ------------------------------------------ ---------------------------------
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