Arkle Resources plc has raised £215,000 before expenses through a placing of 61,428,571 new ordinary shares each at a price of 0.35p.
DIRECTORS’ DEALINGS
Each placing share has one warrant attached with the right to subscribe for one new ordinary share at 0.35p for a period of two years.
Chairman John Teeling subscribed for 28,571,429 new ordinary shares, taking his holding in the company to 41,947,202, representing 9.18% of the enlarged share capital.
Finance director and company secretary James Finn subscribed for 14,285,714 new ordinary to have 28,349,241 (6.21%).
Following admission, Arkle’s enlarged issued ordinary share capital will comprise 456, 810,997 ordinary shares. The company holds no shares in treasury.
Net funds from the placing will be used for lithium exploration in Ireland and general corporate activities.