REG - GreenRoc Strateg PLC - Directors' subscriptions and issue of Fee Shares

GreenRoc Strategic MaterialsAnnouncement

17/03/2025 07:15

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RNS Number : 8319A  GreenRoc Strategic Materials Plc  17 March 2025

GreenRoc Strategic Materials Plc / EPIC: GROC / Market: AIM / Sector: Mining

 

17 March 2025

GreenRoc Strategic Materials Plc

("GreenRoc" or the "Company")

 

Share subscription by Directors and issue of Fee Shares

 

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased to announce
the subscription of shares in the Company by two GreenRoc directors. 735,577
new ordinary shares of 0.1 pence each (the "Subscription Shares") have been
subscribed for at a price of 1.3 pence per Share (the "Subscription Price")
for a total of £9,562.50.

 

In addition, the Company has issued 543,269 new ordinary shares in the Company
("Fee Shares") at a value of 1.3 pence per Fee Share in respect of £6,000
payable to certain external advisers.

 

 GROC Directors                  Fees paid (£)   Shares Allotted
 Lars Brünner                    2,500.00        192,308
 Mark Rachovides                 7,062.50        543,269
 Subscription Shares             9,562.50        735,577

 External advisers (Fee Shares)  6,000.00        543,269

 Total                           15,562.50       1,197,115

 

 

GROC Directors

 

The table below provides details of the purchase of Shares by Directors of the
Company under the Subscription and their resulting interests following the
purchase. The PDMR forms are set out at the bottom of this announcement.

 

 Name             Interest in Shares prior to the Subscription  Number of Subscription Shares subscribed for  Interest in Shares following completion of the Subscription  % of Enlarged Share Capital
 Mark Rachovides  472,308                                       543,269                                       1,015,577                                                    0.40%
 Lars Brünner     125,000                                       192,308                                       317,308                                                      0.13%

 

 

 

Related Party Transactions

 

The subscriptions by the above-named GreenRoc directors constitute related
party transactions as defined by the AIM Rules. The independent directors of
the Company in relation to the subscriptions by the GreenRoc directors, being
all of the directors of the Company other than Mr Brünner and Mr Rachovides,
consider, having consulted with Cairn Financial Advisers LLP, the Company's
nominated adviser, that the terms of the subscriptions by the above-named
GreenRoc directors are fair and reasonable insofar as the Company's
shareholders are concerned.

 

Admission to Trading on AIM and Total Voting Rights

 

Application has been made for the Subscription Shares and the Fee Shares
(together, the "New Ordinary Shares") which will rank pari passu with the
existing ordinary shares of 0.1 pence each, to be admitted to trading on AIM
("Admission"). It is expected that Admission of the 1,197,115 New Ordinary
Shares, will become effective and that dealings will commence at 8:00 a.m. on
or around 20 March 2025.

 

Following the issue of the New Ordinary Shares, the total issued share capital
of the Company will consist of 252,618,786 ordinary shares of 0.1 pence each.
The Company does not hold any ordinary shares in Treasury, therefore the total
voting rights in the Company following Admission will be 252,618,786. This
figure 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 in their interest in, the share capital of the
Company under the FCA'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.

 

*ENDS** 

 

For further information, please contact: 

    GreenRoc Strategic Materials Plc                             +44 20 3950 0724

    Stefan Bernstein, CEO 

  
    Cairn Financial Advisers LLP (Nomad)                         +44 20 7213 0880

    James Caithie / Sandy Jamieson /

    Louise O'Driscoll 

  
    Oberon Capital (Broker)                                      +44 20 3179 5300

    Nick Lovering / Adam Pollock

   

 

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted company, which is led by a
group of highly experienced mining industry professionals. The Company is
focused on fast-tracking the Amitsoq Graphite Project in Greenland into a
producing mine to meet critical demand from Electric Vehicle ('EV')
manufacturers in Europe and North America for new, high grade and
conflict-free sources of graphite.  Amitsoq is one of the highest-grade
graphite deposits in the world with a combined Measured, Indicated and
Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of
20.41% graphite, giving a total graphite content of 4.71 Mt, and significant
further upside beyond this. Test work has proven that Amitsoq graphite can be
readily upgraded to high-grade, anode-quality graphite, with higher than
99.95% purity and relatively little energy input, boding well for future
production costs and sustainability commitments.

 

A Preliminary Economic Assessment released on 31 October 2023 gives a post-tax
NPV8 for the Project of US$179M, an IRR of 26.7% and capex estimated at
US$131M (including a 25% contingency).  These figures solely relate to the
economics of a mining and primary processing operation in South Greenland and
do not take into account any potential upside from a downstream processing
operation, which GreenRoc intends to establish. A Feasibility Study into the
establishment of a graphite spheronisation processing plant (published in May
and July 2024) shows a post-tax NPV8 for the project of US$621M, an IRR of
26.5% and capex estimated at US$340M (including a 25% contingency).  The
Company has signed a Letter of Intent to secure an area for the Company's
future Active Anode Materials Plant in Southern Norway and has received
expressions of support from the European Raw Materials Alliance and the US
EXIM Bank for future development. In November 2024, GreenRoc and Morrow
Batteries a/s, a Norwegian Gigafactory signed a MoU to work together on a
regional supply chain of battery anode material and the Company received a
Letter of Interest from the Export and Investment Bank of Denmark (EIFO) in
January 2025.

 

GreenRoc also has the Thule Black Sands Ilmenite Project ('TBS') in Greenland,
which has an initial Mineral Resource of 19Mt at 43.6% Total Heavy Minerals
with an in-situ ilmenite grade of 8.9%.

 

PDMR Disclosures

 

 Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
 596/2014
 1     Details of the person discharging managerial responsibilities/person closely
       associated
 a.    Name                                                           Mr Lars Brünner
 2     Reason for notification                                         

                                                                       

                                                                       
 a.    Position/Status                                                Director
 b.    Initial notification/                                          Initial notification

       Amendment
 3     Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a.    Name                                                           GreenRoc Strategic Materials Plc
 b.    LEI

                                                                       213800OAVF2KQAD11380

                                                                       
 4     Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a.    Description of the financial instrument, type of instrument     

Identification Code                                           Ordinary shares of £0.001 each

                                                                      GB00BLD3C518

 b.    Nature of the transaction                                      Subscription for Ordinary shares of £0.001 each
 c.    Price(s) and volume(s)
                                                                                  Price(s)    Volume(s)
       1.30 pence                                                                 192,308

 d.    Aggregated information

                                                                      N/A

 e.    Date of the transaction                                        14 March 2025
 f.    Place of the transaction                                       London, UK

 

 

 

 Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
 596/2014
 1     Details of the person discharging managerial responsibilities/person closely
       associated
 a.    Name                                                           Mr Mark Rachovides
 2     Reason for notification                                         

                                                                       

                                                                       
 a.    Position/Status                                                Director
 b.    Initial notification/                                          Initial notification

       Amendment
 3     Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a.    Name                                                           GreenRoc Strategic Materials Plc
 b.    LEI

                                                                       213800OAVF2KQAD11380

                                                                       
 4     Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a.    Description of the financial instrument, type of instrument     

Identification Code                                           Ordinary shares of £0.001 each

                                                                      GB00BLD3C518

 b.    Nature of the transaction                                      Subscription for Ordinary shares of £0.001 each
 c.    Price(s) and volume(s)
                                                                                  Price(s)    Volume(s)
       1.30 pence                                                                 543,269

 d.    Aggregated information

                                                                      N/A

 e.    Date of the transaction                                        14 March 2025
 f.    Place of the transaction                                       London, UK

 

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