Fulcrum Metals plc has increased its fundraise held earlier this month with two additional subscriptions.
HOLDINGS
The company raised £114,000 via a previously intended subscription by certain board members of 1,431,250 new ordinary shares at the issue price of 8 pence each.
A further £130,000 was raised from certain existing shareholders on the same terms for an aggregate 1,625,000 further subscription shares.
Fulcrum said that the total fundraise amounted to £863,270.
Participating directors subscribed for a total £89,769 new ordinary shares at the issue price and certain board members converted outstanding salaries totalling £24,731 into new ordinary shares.
Chief executive Ryan Mee subscribed for 774,123 shares for a total 7,673,909 representing 12.46% of the enlarged capital of the company.
Corporate development director Aidan O’Hara subscribed for 419,254 shares (7,294,739, 11.84%); chief financial officer John Hamilton,156,353 (0.25%); and interim non-executive chairman Alan Mooney, 81,520 (0.13%).
An additional £66,730 of new ordinary shares were issued for directors’ fee conversions and fee shares to advisers.
Following admission of the 1,431,250 director subscription shares and the 1,625,000 further subscription shares, Fulcrum will have 61,585,943 ordinary shares in issue, each with one voting right.
The company holds no shares in treasury.
Major shareholder Panther Metals plc which holds 7,625,122 shares, equal to 12.38% of the enlarged capital.