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The board of IMC is pleased to announce that it has raised GBP 120,000 before expenses by way of a placing (the “Placing”) of 10,000,000 new ordinary shares of EUR0.001 each in the capital of the Company (“Ordinary Shares”) at a price of 1.2 pence per share (the “Placing Shares”). The total number of Ordinary Shares in issue following the Placing is 250,014,285.
The net proceeds of the Placing will be used to continue with IMC’s three main Projects: IMC’s study on PL 3850 on its spoils and tailings project in Avoca, Co. Wicklow, IMC’s north Wexford gold project and IMC’s zinc project in Tulla, Co. Clare.
The board has been advised that the new Chairman, Mr Eamon O’Brien, has subscribed for 4,340,000 of the Placing Shares. This will increase his shareholding in IMC from 1,900,000 (0.79%) to 6,240,000 Ordinary Shares, or 2.50%.
IMC further confirms that the directors’ shareholdings and their percentages of voting rights in the issued share capital of IMC as it has been enlarged by the Placing described above, are as follows:
|Name of Director||Number of Ordinary Shares||Percentage of Issued Share Capital|
|Dr. Glenn Millar||3,600,001||1.44|
Dublin, 3rd October 2018
The Directors of the issuer accept responsibility for this announcement.
IMC Exploration Group Plc
Mr. Eamon O’Brien
Telephone (Ireland): +353 87 6183024
Keith, Bayley, Rogers & Co. Limited
Mr. Brinsley Holman
Telephone: +44 20 7464 4098
Mr. Graham Atthill-Beck
Telephone: +44 20 7464 4091/+44 750 643 4107/+971 50 856 9408