18 September 2024
Kendrick Resources Plc
("Kendrick" or the "Company")
Issue of Equity and TVR
Kendrick Resources Plc (LSE: KEN), the mineral exploration and development company building nickel, vanadium, and copper battery metal projects in Scandinavia, announces that it has issued 6,365,385 new ordinary shares of £0.0003 ("Ordinary Shares") to settle £46,000 of accrued fees due to consultants as per the table below:
|
Period |
Fees |
Issue price |
No. of shares |
|
12 mths to 31 August 2024 |
£ 30,000 |
£ 0.00650 |
4,615,385 |
|
12 months to 2 May 2024 |
£ 16,000 |
£ 0.00914 |
1,750,000 |
Application to trading: Applications will be made to the Financial Conduct Authority ("FCA") and the London Stock Exchange for the 6,365,385 new Ordinary Shares, to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities (the "Admission"). It is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on or around 24 September 2024.
Issued Share Capital: Following the issue of the 6,365,385 new Ordinary Shares, the Company's total issued share capital will consist of 250,248,152 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.
Total Voting Rights On Admission, the above mentioned figure of 250,248,152 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, African Pioneer under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
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This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
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About Kendrick Resources Plc
Kendrick Resources Plc is a mineral exploration and development company with projects primarily based across Scandinavia. The principal of its business is to explore the opportunities within the natural resources sector with a focus on battery, base, and precious metals including but not limited to vanadium and nickel. In doing so, the Company is looking to build a long term energy metals business in Scandinavia which delivers energy metals to Europe to help enable its renewable energy transformation by building a top tier energy metals production business.
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