Harvest Minerals Limited

Related Party Transaction • Jun 30, 2025

National Storage Mechanism | Additional information

RNS Number : 0268P

Harvest Minerals Limited

30 June 2025

30 June 2025

Harvest Minerals Limited

("Harvest" or the "Company")

Issue of Settlement Shares and TVR

Harvest Minerals Limited, the AIM listed organic fertilizer producer, is pleased to announce the settlement of c. £342,000 of director / company secretary fees, through the issue of, in aggregate, 114,000,000 new ordinary shares of no par value at a price of 0.3p ("Issue Price") (the "Equity Issue"). The Equity Issue shares will be subject to a hard lock-in for six months from the date of Admission. The Issue Price is the same as the price at which the Company's fundraise as announced on 23 June 2025 was undertaken, and approximately equal to the current market price.

Issue of Settlement Shares

The Equity Issue of 114,000,000 new Ordinary Shares is to three of the four Board members, and to Palisade Business Consulting (which provides the Company with accounting and company secretary services) as settlement for all fees outstanding to the various parties up until 30 June 2025. As has been previously disclosed, Jack James is a director and shareholder of Palisade Business Consulting:

Party	Fees Owed (£)	No. of Settlement Shares issued
Brian McMaster	132,000	44,000,000
Luis Azevedo	120,000	40,000,000
Jack James	29,594	9,864,667
Palisade Business Consulting (PBC)	60,406	20,135,333
Total	342,000	114,000,000

Following the issue of the Settlement Shares, the Directors holdings will be as below:

		Shareholdings
Director	Position	Current Holding	Settlement Shares	Holding on Admission	% on Admission
Brian McMaster	Executive Chairman	35,842,996	44,000,000	79,842,996	15.9%
Luis Azevedo	Non-Executive Director	17,645,135	40,000,000	57,645,135	11.5%
Jack James, inc. PBC	Non-Executive Director	13,135,200	30,000,000	43,135,200	8.6%

Related Party Transaction

The issue of the Settlement Shares constitutes a related party transaction under AIM Rule 13 of the AIM Rules for Companies. Alex Penha, as the independent director of the Company for the purposes of this transaction, considers, having consulted with the Company's Nominated Adviser, that the terms of the issue of the Settlement Shares are fair and reasonable insofar as the Company's shareholders are concerned.

Application to trading on AIM

The Equity Issue is conditional on Admission.  Application will be made to the London Stock Exchange for the 114,000,000 new Ordinary Shares to  be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 4 July 2025 ("Admission").

Total Voting Rights

Following the Equity Issue, the total issued share capital of the Company will consist of 503,169,217 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. 

On Admission, the abovementioned figure of 503,169,217 Ordinary Shares may be used by shareholders in the Company 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, Harvest under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

Harvest Minerals Limited	Brian McMaster (Chairman)	Tel: +44 (0) 203 940 6625
Strand Hanson Limited (Nominated & Financial Adviser)	Ritchie Balmer James Spinney	Tel: +44 (0) 20 7409 3494
Tavira Financial (Broker)	Jonathan Evans	Tel: +44 (0) 20 3 192 1733

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFLFIVRTIIVIE