Home » Posts tagged 'ordinary shares'
Tag Archives: ordinary shares
#MDH Mendell Helium PLC – Issue of Equity, TVR & Director Dealing
Mendell Helium (LON: MDH), the helium production company with operations in Kansas, announces that, in accordance with his share-based remuneration arrangements announced on 23 June 2025, Nick Tulloch, Chief Executive Officer, will receive 562,500 new Ordinary Shares (“New Shares”), as payment in lieu of £22,500 of accrued remuneration for the period from 1 April 2026 to 30 June 2026. Mr Tulloch will receive a further 1,500,000 new Ordinary Shares (“New Shares”), as payment of a £60,000 bonus following admission of the Company’s ordinary shares to trading on AIM in June 2026. The New Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company’s fundraising announced on 30 April 2026.
Following this issuance, the total number of Ordinary Shares that will be held following Admission by Nick Tulloch, a Person Discharging Managerial Responsibility (“PDMR”), is as follows:
|
Name |
New Ordinary Shares to be issued |
Total Ordinary Shares held in the Company following Admission |
Percentage of the Company’s enlarged issued ordinary share capital following Admission |
|
Nick Tulloch |
2,062,500 |
8,386,4831 |
2.43% |
1Including shares held by his spouse and Fetlar Capital Ltd, a company controlled by Nick Tulloch and his spouse.
Additional Issue of Equity
The Company has agreed to issue and allot 1,087,500 new Ordinary Shares (“New Shares”) as payment in lieu of approximately £43,500 of accrued fees owed by the Company to professional advisers. The majority of these accrued fees represent investor relations support in the period from 2024 through to 2027. These New Shares will be issued at the same price of 4.0 pence per share, being a price equal to the issue price of the Company’s fundraising announced on 30 April 2026.
Admission
Application will be made for the 3,150,000 new Ordinary Shares to be admitted to trading on AIM (“Admission”). Admission is expected to occur at 8:00 am on or around 27 August 2026. The New Shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
Following Admission, the Company’s enlarged share capital will comprise 345,036,938 ordinary shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 345,036,938. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
|
Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
|
||
|
Mendell Helium plc Nick Tulloch, CEO
|
Via our website investors@mendellhelium.com |
|
|
Cairn Financial Advisers LLP (Nominated Adviser) Ludovico Lazzaretti / Liam Murray
|
Tel: +44 (0) 20 7213 0880 |
|
|
SI Capital Limited (Broker) Nick Emerson
|
Tel: +44 (0) 1483 413500 |
|
|
Fortified Securities Guy Wheatley
|
Tel: +44 (0) 203 4117773
|
|
|
Tel: +44 (0) 20 3973 3678 |
|
|
AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
|
Tel: +44 (0) 207 4690930
|
|
|
Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608
|
Overview of Mendell Helium
Mendell Helium is a helium producer in Kansas, USA where it operates through its wholly owned subsidiary M3 Helium.
M3 Helium’s flagship well, Rost 1-26, is in Fort Dodge, just to the east of Dodge City, Kansas. It has been tested as containing 5.1% helium composition and a drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. Water removed from Rost 1-26 is delivered to Brobee, a nearby disposal well that has been permitted at 10,000 barrels of water per day at 1,200 psi. Production at Rost 1-26 commenced in early November 2025 and the most recently recorded flow rate in December 2025 was 250 Mcf per day equating to approximately $1.4 million of helium per year (at $300/Mcf helium).
M3 Helium has subsequently drilled and completed a second well, Rost 2-26, which is currently being de-watered. It also owns additional leases in the Fort Dodge area capable of supporting up to eight new production wells. It has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13A, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day.
At the Rost wells in Fort Dodge, M3 Helium treats the raw gas on site to concentrate the helium and has leased two tube trailers which it uses for deliveries to its offtaker.
M3 Helium also has interests in five producing wells (Peyton, Smith, Nilson, Bearman and Dimmitt) within the Hugoton gas field in South-Western Kansas, one of the largest natural gas fields in North America. Significantly these wells are in the proximity of a gathering network and the Jayhawk gas processing plant meaning that producing wells are all tied into the infrastructure.
#SVML Sovereign Metals LTD – Lapse of Performance Rights
Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX:SVMLF) (Sovereign or the Company) advises that 6,190,000 unlisted performance rights that were subject to the “Final Investment Decision Milestone” lapsed on 30 June 2026 without exercise or conversion.
Following the lapse of these unlisted performance rights, the Company has the following securities on issue:
· 655,961,203 fully paid ordinary shares (of no par value); and
· 13,262,500 performance rights subject to the “Construction and Finance Milestone” that have no exercise price and expire on 30 June 2028.
Change of Directors’ Interest Notices in relation to the lapse of unlisted performance rights have been provided below.
|
Enquiries |
|
Dylan Browne Company Secretary +61 8 9322 6322 |
|
Nominated Adviser on AIM and Joint Broker |
|
|
SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
|
Ewan Leggat Charlie Bouverat |
|
|
|
|
|
Joint Broker |
|
|
Stifel |
+44 20 7710 7600 |
|
Varun Talwar |
|
|
Ashton Clanfield |
|
#HREE Harena Resources PLC – First Day of Dealings
Citius Resources plc is pleased to announce the completion of its acquisition of Harena Resources Limited and the admission of its enlarged share capital of 413,884,352 ordinary shares of 0.5 pence each (“Ordinary Shares”) at an issue price of 3 pence each (“Issue Price”) to trading on the Equity Shares (transition) category of the Official List and the Main Market of the London Stock Exchange from 8:00 a.m. on 21 March 2025 (“Admission”).
The Company will change its name to Harena Resources Plc once processed by Companies House and the TIDM code “HREE” will be effective immediately.
Tavira Financial Ltd is acting as Financial Adviser and Broker to the Company.
The Ampasindava Rare Earth Project
Harena Resources owns 75% of the Ampasindava Ionic Clay Rare Earth Project (“Project”), one of the largest ionic clay rare earth deposits outside China. With a JORC 2012 compliant 698Mt resource grading 0.087% TREO, it is rich in Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb)-critical for military, AI, and clean energy applications.
Admission Highlights
· Admission to LSE: The Company commences trading under the ticker HREE.
· Total fundraising of ~£1.38m: comprising £0.6 million raised at 3p per share and a further and A$1.5m loan notes (£780,000) to fund the Feasibility Study (“FS”), Environmental Impact Social Assessment (“EISA”) and general working capital.
· Market Capitalisation on Admission £12.4 million.
· Politically Neutral Rare Earth Supply: The Project is located outside of China’s rare earth dominance, having the potential to provide Western markets with a secure and independent source of critical materials.
· Strategic Focus on Defence & Robotics: The project hosts high-value magnet metals essential for next-generation military technology, including:
· F-35 Lightning II fighter jets (Lockheed Martin)
· Tomahawk & Javelin missiles (Raytheon, Boeing)
· Virginia-class nuclear submarines (General Dynamics)
· Aegis Combat Systems & military radar (Lockheed Martin, BAE Systems)
· Non-Binding Offtake Secured: Non-binding term sheet signed with United Rare Earths Inc, a US-based group developing a Rare Earths Centre of Excellence in the US state of Tennessee, aimed at supporting domestic rare earth supply chains for defence and energy markets.
· Large Scale Ionic Clay Resource: The Project boasts a JORC 2012 compliant total resource of 698Mt of material grading 868ppm (0.087%) Total Rare Earth Oxides (“TREO”)
· Low-Cost, Environmentally Friendly Extraction: Ionic clay deposits enable simpler, lower-capex, rare earths processing compared to traditional hard rock mining.
· Short-Term Catalysts and Near-term milestones include:
· Completing the Feasibility Study and EISA to support the mining license conversion to permit extraction
· Advancing negotiations for additional offtake agreements
· Increasing Harena’s project ownership from its current 75%
· Engaging with US & European government initiatives for critical mineral funding
Joe Belladonna, Managing Director of Harena Resources, commented:
“We are thrilled to complete the reverse takeover of Citius Resources and bring Harena Resources to the London Stock Exchange. Our Ampasindava Project is a globally significant ionic clay rare earth deposit, positioned at the heart of growing Western demand for critical minerals.
With military, AI, and renewable energy applications driving rare earth demand, Harena offers the potential for low-cost, geopolitically neutral supply of the key rare earth elements. Our successful listing reflects strong investor interest in secure, ex-China rare earth supply chains, and we are excited to execute our near-term milestones to drive shareholder value.”
STRATEGIC POSITIONING
The Ampasindava Project is a globally significant rare earths asset, strategically located to supply Western markets amid ongoing geopolitical tensions surrounding China’s dominance in rare earth supply chains. The project has a JORC 2012 compliant 698.5Mt of resource at 868ppm TREO, containing 606kt of rare earth oxides, with a 22% of the Resource associated to the critical magnet metals such as Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb), essential for:
· Military applications
· Autonomous robotics
· Electric vehicles
· Renewable energy technologies.
A SECURE, NON-CHINESE SUPPLY CHAIN
China currently controls over 90% of global rare earths refining, creating supply risks for Western industries that depend on these critical materials. Harena Resources is strategically positioned as an independent, geopolitically neutral alternative that aligns with US and European initiatives to de-risk supply chains for critical minerals. With Western nations increasing focus on securing defence-grade rare earths, Harena is well-positioned to benefit from ongoing policy shifts that prioritise geographically diverse sources.
DEFENCE & ROBOTICS APPLICATIONS
Rare earth elements extracted from Ampasindava are crucial for advanced defence systems and next-generation technology, including:
· Military & Aerospace: Neodymium and Dysprosium are used in jet engines, missile guidance systems, and satellite technology.
· Nuclear Submarines & Radar Systems: Over 4,000 kg of rare earths are required for each Virginia-class nuclear submarine, highlighting the importance of supply into the global defence manufacturing industries.
· Autonomous Robotics & AI Systems: Rare earths are essential in servo motors, AI-driven robotics, and next-generation automation.
· Energy Security & Renewables: High-strength magnets in wind turbines and electric vehicle motors are dependent on NdPr and DyTb.
SENIOR MANAGEMENT TEAM
Joseph Belladonna (Managing Director)
Joseph Belladonna is a respected and highly experienced chief financial officer and mining professional, with more than 20 years of experience in the financial and commercial management field of listed mining companies.
Mr Belladonna was the chief financial officer and company secretary of ASX listed company, Western Areas Ltd, prior to its takeover by the Independence Group in June 2022 for approximately A$1.2 bn. He joined Western Areas Ltd as financial controller and subsequently promoted to company secretary and chief financial officer.
During his 16-year tenure at Western Areas, Mr Belladonna built a high performing accounting and finance function and established the internal control, risk management and reporting environment of the group as it discovered, developed, and commissioned multiple nickel sulphide mines and processing plants. Mr Belladonna was responsible for capital raisings and convertible bond offerings within the group. Joe has in depth knowledge and developed relationships with both local and international offtake customers, participating and leading commercial negotiations with metal buyers and smelter operators.
Allan Mulligan (Executive Director)
Mr Mulligan is a mining engineer with over 35 years of experience in mining operations, mine start-up and construction that culminated in management roles in large scale platinum and gold mines.
Mr Mulligan has specialised in technical assessment and production economics, feasibility studies, project design and costing of underground mines and prospects. He has worked extensively in exploration, mine development and operations across Africa and Australia.
Mr Mulligan’s experience includes 14 years with Lonmin Plc (London Stock Exchange) in a variety of senior and technical mine management roles. Mr Mulligan has served as Founder and Managing Director of ASX listed Walkabout Resources Ltd and is a former Non-Executive Director of AIM listed Future-Metals Limited.
CHANGE OF NAME
The Company’s change of name to “Harena Resources Plc” will take place once Companies House has issued a new certificate of incorporation reflecting the change of name. The change of name is expected to become effective imminently and the Company will make a further announcement following the completion of the change of name.
The Company’s website will transition from www.citiusresources.co.uk to
www.harenaresources.co.uk on completion of the change of name.
TOTAL VOTING RIGHTS AND ISIN
Following Admission, the Company will have 413,884,352 Ordinary Shares in issue. In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 413,884,352 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA’s Disclosure Guidance and Transparency Rules.
The Company ISIN remains GB00BMGRFP88.
Contact
|
Harena Resources |
|||
|
Joe Belladonna/Allan Mulligan |
+44 (0)1624 681 250 |
||
|
|
|||
|
Tavira Financial Jonathan Evans/Oliver Stansfield
|
+44 (0)20 7330 1833 |
||
|
|
|||
|
Flowcomms IR Sasha Sethi |
+44 (0) 7891 677 441 |
||
|
|
|||
|
|
|||
|
|
|||
#HREE Harena Resources Plc – Result of AGM
Citius Resources plc is pleased to announce that at the Company’s Annual General Meeting held earlier today, all resolutions proposed, including the special resolutions, were duly passed. Accordingly, the proposals set out in the Prospectus dated 26 February 2025 are now expected to complete, conditional on Admission, at 8.00 a.m. on 21 March 2025.
Change of Name
The Company’s change of name to “Harena Resources Plc” will take place once Companies House has issued a new certificate of incorporation reflecting the change of name. The change of name is expected to become effective imminently and the Company will make a further announcement following the completion of the change of name. The Company’s TIDM will change to HREE immediately.
The Company’s website will remain www.citiusresources.co.uk until the change of name has taken effect.
Application for Admission and Total Voting Rights
Following Admission, the Company will have 413,884,352 Ordinary Shares in issue. In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 413,884,352 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA’s Disclosure Guidance and Transparency Rules.
The Company ISIN remains GB00BMGRFP88.
Results from the GM
All resolutions were duly passed. A summary of the votes received for the General Meeting will be made available on the Company’s website at www.citiusresurces.co.uk
Contact
|
Harena Resources Joe Belladonna/Allan Mulligan |
+44 (0)1624 681 250 |
|
Tavira Financial Jonathan Evans/Oliver Stansfield
|
+44 (0)20 7330 1833 |
|
Flowcomms IR Sasha Sethi |
+44 (0) 7891 677 441 |
#BRES Blencowe Resources PLC – Subscription & Conditional Subscription – Replace
New Investor
The Company is pleased to report it has raised US$500,000 (£392,350) at 5 pence per share with a specialist African-based investor (“African Investor”) through the issue of 7,847,000 new ordinary shares. The investor has undertaken extensive due diligence over the last four months and the current investment is viewed as an initial entry into the project ahead of anticipated further investment as required. The shares have been issued to the African Investor under the Company’s existing headroom.
Additional Investor and the Issue of a Prospectus
In addition, the Company has conditionally raised a further £2,500,000 at 5 pence resulting in the issue of 50,000,000 new ordinary shares to an additional strategic investor (“Strategic Investor”). The Company is required to publish a prospectus on the basis that it will be issuing more than 20% of its issued share capital in a 12-month period. The Company and its advisers are in advanced stages of finalising the prospectus. The Company anticipates publishing the prospectus this month and will update shareholders prior to its publication.
Conditional Subscription
The Strategic Investor has received investment committee approval and made a firm commitment to subscribe. The subscription by the Strategic Investor is subject to the Company issuing the prospectus, a general meeting by the Company to approve certain resolutions relating to the issue of new ordinary shares, settlement of the investment and the issue and allotment of the new ordinary shares.
For the avoidance of doubt, the subscription by the African Investor is firm and not contingent on any investment by the Strategic Investor. The subscription funds have been received from the African Investor and the Company shall apply for the new ordinary shares to commence trading.
Admission
An application has been made for 7,847,000 new ordinary shares to be admitted to trading on the official list and the London Stock Exchange from 8.00 a.m. on Monday 12 February 2024 (“Admission”).
In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 217,226,950 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA’s Disclosure Guidance and Transparency Rules.
Mike Ralston, CEO of Blencowe Resources, commented:
‘I am pleased to provide this positive update with respect to our fundraising initiatives. As previously reported, we have already received US$2,000,000 in grant funding from the US International Development Finance Corporation (“DFC”) out of their approved US$5,000,000 grant. A further US$1,000,000 is expected from the DFC in the near term as the next milestones have been met.
We now welcome a new specialist African investor to the register following the fundraise of US$500,000 at 5 pence, which represents a healthy premium to the current market price and underlines their decision to invest for the long term after an extensive due diligence exercise. We reasonably believe that they will look to invest further as our relationship is built.
Moreover, we are now in the closing stages of a further subscription of £2.5m at 5 pence from another Strategic Investor and we are busily working with our advisers to finalise and issue the prospectus.
Both these investments at 5p underline the value proposition offered by Blencowe and will provide us with a good runway to complete the DFS this year. We are making rapid progress in de-risking the Orom-Cross project, especially following the recent letter of interest received from the DFC to provide a funding solution for the build and development of Orom-Cross. We will continue to work closely with the DFC as we complete the DFS to ensure construction can commence at Orom-Cross in a timely fashion.
I believe it is testament of the quality of the Orom-Cross project that we have been able secure funding partners like this at a time when the junior mining sector continues to face significant difficulties with respect to sourcing capital. We are hoping to deliver an NPV in the DFS significantly higher than the post-tax NPV of US$482M achieved in the Pre-Feasibility Study and will keep shareholders updated on our progress.’
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733
|
|
First Equity Limited Jason Robertson |
Tel: +44(0)20 7330 1833 jasonrobertson@firstequitylimited.com
|
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
Orom-Cross Graphite Project
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit.
A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit. Blencowe completed a successful Pre-Feasibility Study on the Project in July 2022 and is now within the Definitive Feasibility Study phase as it drives towards first production.
Orom-Cross presents as a large, shallow open-pitable deposit, with an initial JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total Graphite Content). This Resource has been defined from only ~2% of the total tenement area which presents considerable upside potential ahead. Development of the resource is expected to benefit from a low strip ratio and free dig operations together with abundant inexpensive hydro-electric power off the national grid, thereby ensuring low operating costs. With all major infrastructure available at or near to site the capital costs will also be relatively low in comparison to most graphite peers.