FIRERING STRATEGIC MINERALS PLC

Related Party Transaction • Sep 27, 2023

National Storage Mechanism | Additional information

RNS Number : 8198N

Firering Strategic Minerals PLC

27 September 2023

27 September 2023

Firering Strategic Minerals Plc

("Firering", the "Company" or the "Group")

PDMR Subscription

Firering Strategic Minerals Plc (AIM:FRG), an exploration and development company focusing on strategic minerals, announces that, further to the recent placing announced on 21 September 2023 (the "Placing"), Youval Rasin (non-executive chairman), Neil Herbert (senior independent non-executive director), Yehoshua Shai Kol (chief financial officer) and Vassilios Carellas (independent non-executive director), have subscribed for, in aggregate, 1,076,922 new ordinary shares of €0.001 each in the Company (the "Ordinary Shares") at a price of 6.5 pence per Ordinary Share (the "Subscription Shares"), raising additional cash proceeds of £70,000 (the "PDMR Subscription").  In total the Placing, which was oversubscribed, together with the PDMR Subscription, raised £826,000 in aggregate.

Pursuant to MAR, the directors of the Company, together with their related parties, were not permitted to enter into the subscription agreement until after publication of the Interim Results, which happened at 700 a.m. today: https://www.londonstockexchange.com/news-article/FRG/interim-results/16141160.

Related Party Transaction

The Subscriptions by each of Youval Rasin, Neil Herbert, Yehoshua Shai Kol and Vassilios Carellas ("Subscribing Directors") constitute related party transactions under AIM Rule 13 of the AIM Rules for Companies. 

Yuval Cohen, the Independent Director for this purpose, having consulted with the Company's Nominated Adviser, considers the Subscriptions by the Subscribing Directors to be fair and reasonable insofar as the Company's shareholders are concerned.

Issue of Equity

30,736 ordinary shares of €0.001 each ("Fee Shares") have been issued, at an issue price of 8.1 pence per share to certain advisors in settlement of fees due of £2,500.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the 1,076,922 Subscription Shares and 30,376 Fee Shares, making a total of 1,107,298 shares to trading on AIM. It is expected that admission will become effective and dealings in the Subscription Shares will commence on AIM at 8.00 a.m. on or around 3 October 2023.

The Subscription Shares and Fee Shares have been issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 101,836,699 with voting rights. This figure 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's issued share capital pursuant to the Company's Articles.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Company's announcement made at 6.33 p.m. on 20 September 2023, unless the context requires otherwise.

Revised shareholdings following Admission

On Admission, the revised shareholdings of the following PDMR's will be:

Name	Position	Holding of Ordinary Shares	% of Enlarged issued share capital
Youval Rasin	Non-Executive Chairman	12,994,615	12.76%
Neil Herbert*	Senior Independent Non-Executive Director	1,839,986	1.81%
Yehoshua Shai Kol	Chief Financial Officer	7,143,846	7.02%
Vassilios Carellas	Independent Non-Executive Director	153,846	0.15%

*Shares are held by Cambrian Ltd, a company in which Mr Herbert has a beneficial interest.

For further information on the Company, please visit www.fireringplc.com  or contact:

Firering Strategic Minerals Yuval Cohen Vassilios Carellas	Tel: +44 20 7236 1177
SPARK Advisory Partners Limited Nominated Adviser Neil Baldwin / James Keeshan / Adam Dawes	Tel: +44 20 3368 3550
Optiva Securities Limited Broker Christian Dennis / Daniel Ingram	Tel: +44 20 3137 1903
St Brides Partners Limited Financial PR Ana Ribeiro / Susie Geliher / Isabelle Morris	T: +44 20 7236 1177 E: firering@stbridespartners.co.uk

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Youval Raisin
2	Reason for the notification
a)	Position/status	Non-Executive Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Firering Strategic Minerals PLC
b)	LEI	2138005GMF9GR4W9MN36
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, type of instrument	Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC
Identification code
b)	Nature of the transaction	Subscription for Ordinary Shares
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		6.5 pence	384,615
d)	Aggregated information
- Aggregated volume	N/A
- Price
e)	Date of the transaction	27 September 2023
f)	Place of the transaction	AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil Herbert
2	Reason for the notification
a)	Position/status	Senior Independent Non-Executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Firering Strategic Minerals PLC
b)	LEI	2138005GMF9GR4W9MN36
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, type of instrument	Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC
Identification code
b)	Nature of the transaction	Subscription for Ordinary Shares
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		6.5 pence	384,615
d)	Aggregated information
- Aggregated volume	N/A
- Price
e)	Date of the transaction	27 September 2023
f)	Place of the transaction	AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Yehoshua Shai Kol
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Firering Strategic Minerals PLC
b)	LEI	2138005GMF9GR4W9MN36
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, type of instrument	Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC
Identification code
b)	Nature of the transaction	Subscription for Ordinary Shares
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		6.5 pence	153,846
d)	Aggregated information
- Aggregated volume	N/A
- Price
e)	Date of the transaction	27 September 2023
f)	Place of the transaction	AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Vassilios Carellas
2	Reason for the notification
a)	Position/status	Independent Non-Executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Firering Strategic Minerals PLC
b)	LEI	2138005GMF9GR4W9MN36
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, type of instrument	Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC
Identification code
b)	Nature of the transaction	Subscription for Ordinary Shares
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		6.5 pence	153,846
d)	Aggregated information
- Aggregated volume	N/A
- Price
e)	Date of the transaction	27 September 2023
f)	Place of the transaction	AIM

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